October 18, 2017 - Fleet, Hartley Wintney, Odiham McCarthy Holden Estate Agents

How choosing the wrong letting agent will make you cry…

It happens more often than you think.You might get a new job offer that’s too good to turn down, you may decide to move in with your partner or you may just fancy a change of scenery and take some time out traveling.

The thing is, what do you do with your home? You could sell it, and reinvest the money, although returns on most things are very poor nowadays, as well as taking on a large amount of risk. So why not keep it?

If you keep it, you can either leave it sat empty and have a friend or family member check on it every once and a while, or you could let it out and hopefully make additional income along the way.

This is where doubts start to creep in…this is where becoming a first time landlord really can start you off worrying about your home that you have painstakingly improved and maintained over the years. There are so many horror stories about people renting out their homes from tenants not paying the bills, blocking the drains, decorating in unsuitable colours to running illegal ‘so-called businesses’. The problem is that a lot of dysfunctional, criminal, deranged or antisocial people can, when the occasion demands, give an impression of being an upstanding trustworthy member of society.

Unfortunately, without carrying out the right checks and trying to mitigate the risk as much as possible you may find, to your cost, that you end up with an unsavory character renting out your home.

Even if you do carry out the right checks, there is always the chance of things going wrong …way into the time scale of the tenancy. For example, what happens if the tenant stops paying, for no apparent reason? This can really start to cause cash flow issues.

There are also the legal obligations of being a landlord. Falling foul of the law can end up costing you an awful lot of money. For example, failure to comply with gas safety regulations could lead to prosecution and/or imprisonment with fines up to £25,000. Then, of course, there is the legal requirement to put your tenant’s deposit into a government-backed tenancy deposit scheme (TDS) See details about ‘Tenancy deposit protection’ on the UK Gov. website.https://www.gov.uk/tenancy-deposit-protection

So the choice is yours… do it yourself or bring in a Letting Agent to help you.

So what should you really be looking out for in a lettings agency?

There are a few things that your letting agent must cover without a shadow of a doubt. If they can’t help you with these five things…then stay well clear.

Processes and measures in place for finding the right tenants
Health and Safety – complying with the law
Optimising rental income
Tenancy deposit scheme
Comprehensive tenancy agreement

Accreditations
Choose a letting agent who is a member of the National Approved Letting Scheme (NALS), or one of the professional bodies that support it.

– The Association of Residential Letting Agents (ARLA/Property Mark)

– The Royal Institution of Chartered Surveyors (RICS)

– The National Association of Estate Agents (NAEA)

Level of service
Can the agent offer you different levels of service, from full management to just finding a tenant, depending on your requirements?

Do they have professional indemnity insurance?
This will cover the letting agent against the possibility of being sued. Do they also have a client money protection policy in place

Tenancy deposit scheme (TDS)
Can the letting agent deal with this for you? If so, check that the scheme they belong is a government-backed reputable scheme.

Ongoing support
Does the agency undertake regular property visits to check up on the state of the property and the wellbeing of your tenants?
Is there an emergency maintenance out of hours contact number available?

These are just a few of the things you should consider when renting out your home for the first time. However, there is nothing like meeting up with the letting agent, to see what they are like in person. Do they get on with you, how helpful do they seem? How knowledgeable are the staff, and are they continuously being trained (CPD courses) on the latest legislation for example.

Also, check out a post by ARLA on “How to find a good Letting Agent”
https://www.ukala.org.uk/agents/press/releases/how-find-good-letting-agent

Blow away the cobwebs and take inspiration from a wealth of autumn walks where you can appreciate flora and fauna in dazzling shades of burnt orange, warm yellows and deep burgundies. Here are some of the country’s best…

Winkworth Arboretum, Surrey – During the autumn months, the splendour of Winkworth Arboretum comes to life with rich, blazing colour from the Japanese, American and Norwegian maples. The 2.5-mile walk to Oakhurst weaves its way through the woodland to the top of Hydon’s Ball, where you can enjoy spectacular views across the landscape.https://www.nationaltrust.org.uk/winkworth-arboretum

Killerton, Devon – Admire the pallet of colours offered in this garden, including the deep orange berries of the Chinese scarlet rowan, the red berries and furry leaves of the Cotoneaster lacteus, and the Zelkova carpinifolia turning a deep, buttery yellow. https://www.nationaltrust.org.uk/killerton

Felbrigg, Norfolk – The Great Wood on the Felbrigg estate is full of interesting fungi in the autumn. After inspecting these, look up to see the bright copper leaves of the Victory V beeches. It’s worth taking a detour (at point 6 on the route) down Lion’s Mouth in autumn. The route feels like you are walking into the jaws of a lion with the tunnel of colour provided from the trees. https://www.nationaltrust.org.uk/felbrigg-hall-gardens-and-estate

Fountains Abbey and Studley Royal, North Yorkshire – The sweeping landscape of Fountains Abbey and Studley Royal is full of autumn colour at this time of year. One of the rangers has designed a deer park walk through the estate which gives you the chance to see the deer rut as well as the beautiful autumn colours. https://www.nationaltrust.org.uk/fountains-abbey-and-studley-royal-water-garden

Gibside, Tyne and Wear – Buzzing with wildlife, Gibside is home to red kites, roe deer and many other rare animals. During the autumn months, you can see the colours changing on the trees below as you rise out of the Derwent Valley on this circular skyline walk offering plenty of pportunities for panoramic views. https://www.nationaltrust.org.uk/gibside

Dinas Island, Pembrokeshire – This circular walk on Dinas Island boasts some of the finest views anywhere on the Pembrokeshire coast. In early autumn, the coastal slopes are cloaked with the yellows and browns of fading bracken, while on the headland, the pinks and purples of common heather are just coming in to bloom, alongside the yellow gorse flowers. https://www.nationaltrust.org.uk/strumble-head-to-cardigan

Dunster, Somerset – A walk to the keep of the castle rewards visitors with a 360-degree view taking in Dunkery Beacon (the highest point on Exmoor) and the Bristol Channel. The south terrace offers views across the former deer park which will be full of colour and the opportunity to spot red deer. The area has a Mediterranean feel due to its microclimate which enables tender plants to thrive, including a row of Chusan palms. https://www.nationaltrust.org.uk/dunster-castle

Visit www.nationaltrust.org.uk for more details about the gardens.

By Hannah Stephenson

So you’re just about to become a first time landlord?

How choosing the wrong letting agent will make you cry…

So the choice is yours… do it yourself or bring in a Letting Agent to help you.

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How choosing the wrong letting agent will make you cry…

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