With growing legislative demand on independent landlords, in the shape of the forthcoming Renters’ Rights Bill (RRB), selecting an experienced Manchester Letting Agent can be key to removing the stress from investing in property. Our previous blog gave an overview of the Renters’ Rights Bill as it currently stands, and the timetable as it goes through due legal process.
Involvement of local authorities, in terms of ensuring landlords comply with their new duties under the RRB, and implementation of any sanctions (for not complying) will result in a more complex lettings environment. Getting professional help and guidance will be more important than ever.
Once the RRB gets Royal Assent, ensuring any new tenancies created comply with the law will be essential. Those tenancies already in place will automatically become periodic tenancies and tenants will have the right to give 2 months’ Notice to end the tenancy (irrelevant of any fixed term in the contract already signed). Other changes will come into place too.
The Growing Demands of Being a Landlord
Being a landlord and managing a rental property reaches far beyond collecting rent every month. Instead, landlords have a myriad of legal responsibilities for managing tenant issues, prior to and during the tenancy.
During the tenancy, Landlords will need to keep the property safe and in good repair, ensuring any repairs reported are dealt with within strict timescales, or they will face sanctions.
Additionally, if you want your property back, with the abolition of Section 21, and possession being granted under the expanded Section 8 grounds, ensuring you follow due process will be key to avoiding costly delays.
Further, any rent reviews will need to be done using a Section 13 Notice and can only be done once a year, with the proposed rent to be in line with market rate – which can be challenged by the tenant and referred to the First Tier Tribunal. Our processes driven by technology means you will never miss a ‘rent review’ date. Additionally, liaising with the First Tier Tribunal in terms of any challenge to a rent review will be managed by Primo. Our expert knowledge of rental values in key markets will mitigate any risk of a rent review being challenged.
The above is a small snapshot of the changing lettings landscape for independent landlords and the new regime is still not finalised. It is envisaged the RRB will get Royal Assent in July with a commencement date later in the year (giving landlords and letting agents time to comply with the new legislation). With the use of leading letting agent technology, Primo, a Manchester letting agent are ideally placed to ensure the management of your investment property complies with the new legislation.
The Key Property Management Benefits That Save Time and Stress
While specialist property managers can offer comprehensive services to manage tenants for landlords, there are certain aspects of these services that provide vast benefits in terms of both the time, effort and stress involved (and sanctions in the upcoming RRB). As a leading Manchester Letting Agent, Primo Property Management are often complimented on the following:
Tenant Screening and Placement
Using the latest Goodlord referencing technology, Primo can ensure they secure good, reliable tenants. This mitigates any problems that may occur down the line. Once the RRB is enacted an essential element of good property management will be to secure the ‘right’ tenant at the outset.
Efficient Rent Collection and Financial Management
At Primo our CRM ‘ALTO’ ensures tight monitoring of rent payments and also provides Landlords with a property portal, showing all transactions and tenancies – with 24/7 access to information about your tenant and your property. No having to ask for copy statements. Additionally, Primo have Client Money Protection in place with ‘safeagent’ and are Members of the Property Redress Scheme.
Primo Property Management – FIXFLO
24/7 Maintenance and Emergency Handling
Always there for emergencies and property issues. Primo has an automated repair reporting system – FIXFLO. This allows tenants to report their issues and the lettings team progress those issues to resolution. Adhering to timelines in terms of reporting and resolving issues is fully recorded within the system. This will ensure any repairs are dealt with within the new RRB timescales. Additionally, with a 24/7 dedicated phone line, there’s no need for you to have disturbed sleep when an incident occurs in the middle of the night!
Legal Compliance and Evictions
As an experienced Manchester letting agent, we’re keeping a close eye on the RRB as it progresses through to Royal Assent. Working with us will offer independent landlords peace of mind with the changing legal compliance thanks to our expert guidance.
So, why work with Primo Property Management?
Primo Property Management offers a comprehensive management service that ensures investor landlords can focus on their investment return without getting bogged down in the day-to-day operations. It really is a ‘hands free’ investment, with Primo managing the day to day tasks.
Our experience means we’re well placed to take the stress out of managing your investment properties during this turbulent time.
The Primo portfolio currently consists of both residential and specialist student lettings, with competitive rates available for full management – starting at just 8.5% + VAT. Indeed it would only take one property emergency or a months’ missed rent to make this cost pay itself back, given the time, effort and money required to resolve such situations independently.
Primo landlords can focus on reaping the benefits of their investment while our expert team, with over 50 years combined property management experience look after your property and your tenants under the new RRB tenancy regime.
Contact Primo Property Management now to find out how we can look after your property investment and tenant
We have a fantastic offer of 8.5% (plus 20% VAT) of gross rental income for new landlords. Primo, a Manchester letting agent – You’re in safe hands !
