Why having a managing agent on board to let your property could save you both time, money and hassle

managing agent

Whether you are a seasoned landlord or new to the letting business, the most important and time-consuming part of renting out your property will begin when your tenant moves in. There will be financial and legal aspects with regards to the tenancy to be managed and with any property there will be the inevitable ongoing maintenance and repair issues that must be dealt with.

As a full-service Managing Agent, the team at Paul Carr Lettings provide landlords with a full range of services to help make the process of letting out a property as hassle free and easy as possible.

We Will Deal Directly with Your Tenant to Resolve any Maintenance Issues

For the rental properties that we manage, we provide the first point of contact for tenants which means that as a landlord you won’t have to be available 24/7 to respond to any issues that your tenant may have, we’ll do it for you.

So, when the heating won’t come on, or there’s a leaking tap, tenants know to contact us directly, either through our Online 24/7 Repair Reporting facility or by calling us. In many instances we can resolve issues by providing advice and guidance, or even through directing them to look at the help videos we have covering a wide range of subjects that tenants can resolve themselves such as how to restart a boiler. This avoids incurring the potential unnecessary expense of a contractor call-out for what is really a simple matter to rectify.

When a problem can’t be so easily rectified, or it’s something that really does need sorting out quickly, we will contact one of our trusted network of tradespeople and organise for them to undertake any necessary repair work. In many cases we won’t even have to bother before we resolve an issue, where we have an agreement in place authorising us to be able to instruct work to be carried out on your behalf up to a certain value.

Handling Difficult Situations and Conversations

As a Managing Agent we will also have the difficult conversations with your tenant that you might not want to have. For example, if your tenant is having problems paying their rent or isn’t paying on time, we will speak directly with them and agree a resolution to ensure your rent is paid as quickly as possible. 

We will inspect our property regularly allowing us to discuss any concerns we have about how they are looking after your property. Landlords who self-manage often neglect inspecting their property resulting in very difficult conversations when their tenant leaves.  

Where there are joint tenants, we can deal with tenancy issues that can arise due to a change in their personal circumstances such as a relationship breakdown.  Such events need dedicated and careful handling to minimise the potential impact on you and your rental property.

Keeping on top of Legislation

Currently there are over 170 separate pieces of legislation that landlords are required by law to comply with to ensure that they are letting their property both fairly and safely. And with new legislation being implemented all the time this can be daunting for even the most experienced landlord.

The Paul Car Lettings Team have the experience and knowledge to provide you with all the guidance that you need and when legislation changes, we’ll let you know how this will affect you and what needs to be done to stay compliant and keep your property investment and your interests safe. 

Get in touch with the Paul Carr Residential Lettings Team

Paul Carr Residential Lettings experts are here to help your experience as a landlord, run as smoothly as possible – every step of the way. Our range of services includes;

  • Carrying out a market appraisal for your property, advising on any work that needs to be carried out and providing a realistic and achievable rental figure.
  • Marketing your property to potential tenants.
  • Sourcing reliable tenants for the property and undertaking reference and credit checks.
  • Carrying out accompanied viewing with potential tenants
  • Providing you with up to date information and advice on the latest health and safety regulations.
  • Preparing the tenancy agreement with detailed written & photographic inventory.
  • Managing ongoing rental payments.
  • Providing the first point of contacts for your tenants and managing and arranging any necessary repairs from our trusted network of tradespeople.
  • Undertaking periodic inspections of your rental property and feeding back any relevant information to you.
  • Re-marketing your property when tenants decide to move on.

To find out more how we can help you to let your property, find the right tenant and fulfil your management obligations as a landlord give our team a call today on 0121 726 9417.

What do you do when your tenant can’t pay their rent?

tenant can't pay

If you are currently considering the possibility of becoming a landlord for the first time, or you may already be renting out a property – one of the real issues that you may be faced with is that your tenant is unable to pay their rent. And for you, this will then mean loss of income and the possibility of legal costs.

How we can help

The Paul Carr Residential Lettings Team already let and manage over 1,000 properties in the North Birmingham area with rental charges ranging from £400 pcm to £3,000 pcm. One of the many benefits of having our Lettings Team manage your rental property on your behalf, is that we have a team of experts who can help in situations like this.

With over 30 years’ experience in the local property market, we have a dedicated team who are highly knowledgeable in all aspects of letting properties and managing tenancies and the issues which may arise – including the non-payment of rent. We have procedures in place to try and avoid such a situation happening in the first place, but if it does, we will provide the support needed to ensure a quick resolution. We also have a dedicated protection policy available to ensure you continue to receive your rent and cover for all your legal expenses.  

Finding the right tenant for you

To help you find the right tenant for your property from the outset, we ensure that for every prospective tenant that we obtain up to three references – a credit reference, an employer reference and where appropriate a current landlord reference. Our reference provider will also check their database for any past failed rent payments and they will do a CIFAS check of the national fraud database.  When a tenancy agreement is arranged, we ask for the first month’s rent up front and a security deposit in excess of one month’s rent to be paid.

Tenants are also asked to set up a standing order to ensure future monthly payments are made and that rent arrives with us on the due date.

How to resolve the none payment of rent

Unfortunately, sometimes a landlord will face the situation where a tenant can’t pay the rent and therefore falls into rent arrears. This is where we can help you. As a full service, value added agency we have experts on hand who can discuss options for serving notice on your tenant in addition to the cover under our protection policy for unpaid rent and any legal costs which may arise to secure legal possession including tenant eviction.

Our Rent Recovery Plus Policy provides cover for 100% of the value of monthly rent payments for up to six months. And of up to £50,000 legal expenses are included in the policy to cover eviction costs if a tenant is in breach of their agreement. And if tenants change, the policy continues to give you peace of mind.

Get in touch with the Paul Carr Residential Lettings Team

Paul Carr Residential Lettings experts are here to help your experience as a landlord, run as smoothly as possible – every step of the way.

To find out more how we can help you to let your property, find the right tenant and fulfil your obligations as a landlord give our team a call today on 0121 726 9417.

Thinking of Becoming a Landlord? Here’s What You Need to Know

First time landlords holding keys

Thinking of becoming a landlord? 

You may be considering purchasing a property on a buy to let basis for the sole purpose of renting it out, or planning to move and don’t need to sell your current home, or you may even have inherited a property. Whatever your situation, becoming a landlord for the first time is a big decision which alongside the financial benefits, brings with it certain important obligations that you need to be aware of.

How we can help 

The Paul Carr Residential Lettings Team are here to help you on every step of your journey to becoming a landlord. Our team has a wealth of experience of the local lettings market and we already let and manage over 1,000 properties in the North Birmingham area. Our aim is to make your role as a landlord as stress and hassle free as possible and we are here to help you navigate the complexities that can be involved. 

Getting the right rental income for your property

We understand that you want to achieve the maximum amount that you can for your property while still making it an affordable price to attract a tenant. Our team have an expert knowledge of the local lettings market and we’ll carry out a full market appraisal of your property to ensure we can advise you of what is a realistic and achievable rental price for your property. If you are just at the stage of thinking about what and where to buy, we can help you with that too.  

Making sure that your property is both legal and safe to rent

There’s over a hundred rules and regulations that you will need to comply with, to ensure that your property is being rented out both legally and safely. And with legislation continually changing it is important that you know what your responsibilities are. Our team have the experience and knowledge to provide you with all of the guidance that you need and we will ensure you receive practical advice at every stage, from before your property goes on the market, right through to managing the tenancy and looking after your interests on an ongoing basis.

Legislation that you need to comply with

There are essential inspections that have to be carried out in order to let your property, including certifications for energy performance (EPC), gas and electric safety. The EPC needs to be ordered before your property can be marketed, while the Gas Safety inspection is required every 12 months and the Periodic Electrical Safety inspection every 5 years. We have dedicated and trusted contractors who are able to carry these checks out for you quickly to ensure there are no delays getting a tenant into your property. 

When renting out a property you need to have dedicated landlord’s insurance rather than just householder’s insurance in place to protect you. We have a strong relationship with HomeLet who though their insurance arm Barbon can arrange for the appropriate cover for your property, as well as protection against unpaid rent and the payment of legal expenses, if required.

Finding the right tenant for your property

One of the most important parts of being a landlord is finding the right tenant for your property. As soon as your property is ready to let, we will market it via the appropriate marketing channels including On The Market, Rightmove and the Paul Carr website, through our branch and our tenant matching system and by erecting a ‘to let’ sign. 

Our Team will then carry out accompanied viewings on your behalf with prospective tenants, who we insist can only submit an application to rent your property once they have actually seen it and we have actually met them. For every prospective tenant we will obtain up to three references – a credit reference, an employer reference and where appropriate a current landlord reference. We also ask our referencing service provider to make additional checks such as a CIFAS check of the national fraud database, and their own database which would highlight past failed rent payments.  We carry out these checks to help minimise the risk of rent arrears and other problems.

Declaring Income

It is important to be aware that any income that you receive from renting out your property must be declared and may be subject to taxation. We would recommend that you seek professional advice from a financial advisor or accountant who will guide you on the steps that you need to take based on your personal circumstances.   

Ongoing Commitment

Being a landlord doesn’t just stop when you have a tenant in your property. There will be inevitable issues that a landlord has responsibility for sorting out, such as any repairs or dealing with broken down appliances or boilers. Our team is here to support you and your tenant through our online 24/7 repair reporting facility.   As a matter of courtesy, we will always contact you then instruct one of our trusted contractors to undertake any work that needs carrying out.

Remarketing your Property

And when your tenant decides it’s the right time for them to move on, we can deal with all of that too. We’ll reassess the market rent and guide you on any work needed to ensure your property remains attractive to the tenants allowing us to find you the best tenant for your property.  We’ll also handle everything to conclude the current tenancy making detailed checks to the property, dealing with the paperwork and contacting service providers.

Get in touch with the Paul Carr Residential Lettings Team

Paul Carr Residential Lettings experts are here to help you every step of the way in becoming a landlord.

To find out more give our team a call today on 0121 726 9417.

How do you store your belongings when you rent out your property?

So, you have decided to rent out your property. What do you do with all your belongings (if you aren’t moving them to another property)?

❏    List the items you plan to store
(Your storage company should be able to advise on the size of space you require. If storing the entire contents of your property, you just need to advise the size, i.e. a large/small three bed house, etc.)

❏    Work out when you will need to put your stuff into storage
(You can take it out when it suits you. Most self storage companies only ask for seven days notice when you want to leave.)

❏    Decide how you will get your goods to the storage facility
(All good self storage companies will be able to recommend a local removal company)

❏    Will you need access outside the reception opening hours?
(If so, find out when these are and when you can get access outside of these times. Check your storage company opens at convenient times, e.g. Sunday.)

❏    Do you need any packing materials?

❏    Check the storage facilities have the following security:

Individually alarmed rooms
24 hour CCTV with external monitoring
Staff onsite 7 days a week
Secure perimeter fencing with electronic gates
Pin code access
Well lit corridors and intercom to the reception