Property renting and management is a lot of work and comes with its fair share of problems. It starts with finding suitable tenants, keeping them happy, and handling problematic ones, and it never ends. At Aksum Lets LTD, we understand your problems and can offer you practical strategies to overcome them. So, join us as we tackle them, one issue at a time.
High Turnover Rate
If your tenants tend to leave before their lease term ends, that’s a sign that something is wrong. Of course, the reasons may differ, but a common one is repair disputes.
To solve this issue, you need to prioritise responding to maintenance requests. This way, you can keep tenants happy and maintain a good relationship with them.
We understand that it’s challenging to do that because time, money, or both may be obstacles, so what can we do?
At Aksum Lets LTD, we offer local property management and online property management packages. If you sign up for either, we’ll manage maintenance and construction-related issues. To start with, our tenant enquiries team will respond to your tenants’ calls at all times and relay any problems to you.
And since our sister company, Right Space Solutions, has experts in numerous maintenance fields, we can give you excellent offers compared to other contractors. Also, we’ll communicate any maintenance requirements with you to make a decision.
Aside from that, it would be best if you were more proactive about the property functions. To elaborate, hire experts to test the gas and electricity so that your tenants don’t have to complain about them.
Thankfully, the packages we’ve just mentioned include organisations of yearly gas; our gas safety qualified experts and electricians conduct these tests. Also, our top-notch domestic energy assessors allow us to carry out energy performance tests if you need them, and the best part is that it’s all for excellent prices!
Another solution to implement is negotiating renewals in advance. With these packages, we’ll consult with you regarding extensions and terminations when you’re nearing lease term ends.
One of the main problems landlords face is property damage. We aren’t talking about regular wear and tear but severe damage and unapproved improvements.
We recommend documenting the state of the property with time-stamped photos before the tenancy, as it’s helpful in legal matters and can make the damage apparent if you place the before pictures next to the after ones.
Fortunately, our local tenant find packages come with a property survey. In other words, we take professional photos and create a detailed description of the place and its condition. Then, we compile these photos and descriptions in an inventory that you can use as reference later to decide whether the tenant can retrieve their deposit or not.
Even better, our local property management package provides you with regular inspections. So, we’ll inspect the property every 3 months. The strict time frame means there are no surprises or frequent visits that’ll upset your tenants. And at the same time, you’ll receive a detailed condition report after each visit to monitor the property’s condition.
Now that you have documentation of the damage, you should analyse the needed repairs and estimated costs. Then, you can sanction the tenant for the damage, and if they refuse to pay, you have the required documents to take them to court.
Another route is withholding the tenant’s security deposit fully or partially to cover these repairs. Be sure to make an itemised list of repairs and costs and prepare pictures so that you can shut down security deposit disputes quickly.
Also, with our sister company, Right Space Solutions, we have access to high-quality maintenance experts with special prices for our clients. So, that should take the edge off pricey repairs.
Tip: Consider getting landlord property insurance to cover your possessions, liability, and damage to the property’s inside. Note that a traditional homeowners insurance policy won’t cover them.
Concerning unapproved improvements, such as painting and shelving, you should review the lease agreement. Accordingly, you may be able to withhold some of the security deposit if the improvement isn’t flattering. This way, you can restore the property to its original state.
And if you’re yet to rent it out, we can include a clause in the contract detailing your requirements for improvements.
Late or Partial Payments
Isolated incidents aren’t a red flag, but consistently failing to pay rent on time, in full, or both is one. If you purchase our local or online tenant find packages, we’ll tailor the assured shorthold tenancy agreement to your requirements. For instance, you can detail the deposit requirements, rental price, late fees (typically 5 to 10% of rent), and other details that’ll highlight the importance of on-time payments.
To illustrate, we create a direct debit for rental collection. Then, we monitor payments on the due date. If they aren’t made, we send out three payment reminders. If your tenant still doesn’t issue the funds, we can take legal action, including prosecution and other procedures required to collect your rent.
Additionally, you can get guaranteed rent insurance for an extra £30 PCM, issued in your name. This way, you can have peace of mind knowing that the insurance policy will cover the rent if your tenant misses their payment. And you can contact us to learn more about the policy details.
Depending on the contract and location, your tenants may not be allowed to sublet the property or part of it. Still, some tenants do it without informing their landlords. The problem with subletting is that strangers that don’t go through the tenant screening process get to stay at your property.
What is the solution, you may ask? Add an exclusivity clause to the lease so that only the legal tenant can occupy the property. Otherwise, you can enable subletting with a personal meeting and the same screening process you have for tenants.
Where do we come in? As we’ve mentioned, we carefully curate a tenancy agreement to your liking if you invest in our local or online tenant find packages, including the clauses you require in the contract. So, communicate your preferences regarding subletting, and we’ll phrase it for you.
Aside from lease-breaking subletting, there are numerous violations that tenants may commit. For example, your tenant might have a pet, which can be against their lease. Perhaps they park somewhere they aren’t supposed to. Even worse, they might be running an illegal business (like selling drugs) on the premises.
While some violations are less severe than others, a pattern of lease breaking usually means you’re dealing with a bad tenant. That takes us to your screening process, which should filter them out.
At Aksum Lets LTD, we’ll give you 2 free comprehensive checks with our tenant find packages, and you can pay £35 for each additional reference check. These checks include credit checks, references from previous employers and landlords, and verification that they have the right to rent.
Also, our reference agency can give you tenant recommendations with these insights in mind. This way, you’ll be able to filter out tenants who participate in illegal business and learn about significant problems they might’ve caused for their previous landlords.
As for the minor issues (like illegal pets), tenant screening may not be able to detect them. Instead, it’s helpful to state everything clearly in the lease agreement. For example, do you have a strict no-pet policy? If the tenant pays a pet deposit, fee, or liability insurance, are they allowed? As mentioned, we can put all your requirements into writing.
Still, what if the lease agreement is clear and your tenant still violates it? You can communicate with them and update the contract with a relevant fee if needed. Delivering a notice to quit is also a sound decision.
Needless to say, tenants should be able to complain if the water is leaking or so. But there will always be tenants that take it too far with persistent calls and overboard requests.
With our local or online property management packages, you don’t have to worry about attending to your tenants’ every request. Instead, our tenant enquiries team is available at all times to respond to their problems and emergencies. Also, we’ll pass on the information to you so that the issue is resolved fast.
Ultimately, at Aksum Lets LTD, our packages are designed to resolve all of the issues you may face as a landlord. So, contact us by filling out this quick online form.
You can invest in our online tenant find and online property management packages if you want to save some money in exchange for being more involved. Otherwise, you can opt for the local packages if you want us to lift the weight off your shoulders entirely!