Five questions you need to ask every new landlord
Letting agents act as an important cog in the private rented sector wheel, being the glue that holds tenants and landlords together, and making sure that both parties are not only happy, but also holding up their end of the bargain, whether that's paying rent or ensuring the property is in a good state of health.
For this reason, it's important that the letting agent's communication with new landlords is as strong as it is with new tenants. With the rented sector as popular and profitable as it is, there are more new landlord investing in the sector all the time, many with little to no experience. So agents must ensure that they take the time to find out from these landlords what they expect, and what they want from the process.
Here, we take a look at five things letting agents need to check with every new landlord.
Communication with the tenant
Some landlords are more open to communication directly with the tenant than others, but the majority like to take a more passive approach, allowing the letting agent to be the primary point of contact. It's important that your landlord's preference is identified early so you know if they want the tenant to contact them directly or not.
Are pets allowed '
A more common query from tenants than ever before, and something that landlords are increasingly open to, pets in rented homes are still a hot topic. You need to find out if your landlord is completely closed off to the idea of pets, happy to accommodate them, or simply open to discussion with the tenant. Knowing their position early makes it easy to deal with tenants' requests.
Maintenance and repairs
Throughout any tenancy, the tenant themselves will be in touch multiple times to discuss repairs, maintenance and other jobs that will need carrying out. You need to know your landlord's policy for such occasions to streamline the process. Do they want to be asked first before any work is carried out, for example, or are they happy simply being notified of what is going on?
In many cases, there will be times when it's important that the landlord can be contacted quickly - for example when there's a big repair needing carried out urgently. As an agent, it's vital you know how best to get in touch with the landlord through their preferred method of communication. Whether it's email, text or phone, knowing how to contact them gives you a head start.
New landlords are unlikely to know all that much about how the market works, so it's important you discuss things like rental increases early on. It allows you to set out a plan and lets them see what their future investment worth could be. Knowing what they plan to do allows you to make better strategic decisions along the way.
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