What can Landlords do to protect themselves with the Renters Rights Bill changes

Landlords can adapt to the changes that the Renters Right Bill will bring.  It will now be even more important that the agent you are working alongside is prioritising you as opposed to their business cashflow.  What do I mean by this?

It will now be more important than ever to make sure that your letting agent takes the time to pre-qualify applicants who want to rent your property.  I have over the last 22 years plus been informed by applicants at a viewings that they are only looking for a short-term let.  This for an agent can be music to their ears as they will get repeat business.  Their focus is to look after themselves and not the landlords needs.  With the tenant being able to give two months notice from the outset means it can be a very expensive time paying fees.  This is why Julevic Property Consultants allows half an hour for each viewing so you can have a good chat with the applicants to find out what their long term plans are.

Also having Rent and Legal insurance is a must and again Julevic Property Consultants has taken the view of not adding an admin fee to any insurance premiums.  So some may say that this is missing an opportunity of additional income.  Not to me though, I look at it from the point of view that a landlord may decide it's too expensive and then if a tenant defaults both the landlord and agent loses income.  If a landlord has cover and makes a claim the agent will receive their commission.  To me that's a win win situation and why it's worth not adding a fee.  My priority is to ensure that the need to make a claim doesn't arise in the first place.

Another key factor to consider is the amount you pay for repairs at your property.  Agents are legally obliged to inform you if they mark up contractor invoices.  Something to look out for is when an agent pays the contractor invoice and then recoups those charges from you when the rent comes in. You won't see the contractors actual invoice.

You are already paying a management fee for your agent to organise repairs.  If an agent charges the contractor 20% of the bill the contractor will need to add on 25% so that they receive the amount they would charge.  Is this the agent looking after the client or the agency.  Julevic Property Consultants never adds a % on top of a contractors invoice.  You can ask any of the contractors we use and you will also have their original invoice.