How To Avoid Bad Tenants

https://youtu.be/f8_B6D6DxWE

New landlords often flirt with the idea of ditching traditional tenant selection processes and taking a DIY approach instead.

After all, there are so many ways to source tenants these days – like Gumtree or social media – why bother with anything else?

Trust us, side-stepping a formal selection process may seem like it might save you time, but it can be so much costlier in the long run.

Wind up with a bad tenant and you can expect:

  • Sleepless nights.
  • Sky-high legal bills.
  • Lost income.
  • Property damage.

Let me explain more about the risks of skipping proper reference and credit checks.

If you use an online platform like Gumtree

The internet has made it easier for landlords to find tenants, but not easier to find good tenants. Post an ad online, and you’ll get lots of responses – but many of them will be from time-wasters and con artists, not genuine candidates. Professionals are more likely to use a traditional bricks and mortar letting agent because they’re wary of getting ripped off in an online scam.

Tenants aren’t the only ones to fall prey to online scammers; landlords can be targets, too. Online crooks often use ‘to let’ adverts as ‘phishing’ opportunities. They pose as tenants to get as much information as they can about you and your vacant property, before they get to work fleecing you.

If you let to a mate or relative after asking around on social media

You may be tempted to ask your contacts on WhatsApp or Facebook if they’re looking for a place to rent. But be warned: things can get very messy when you blur the lines between personal and professional. If things don’t work out, it could cause a major family fall-out or friendship rift.

Sometimes, when a landlord knows the tenant, they don’t bother with a contract. Please, never, ever do this. If you do get into a dispute later, your legal options will be limited.

Some buy-to-let mortgages prevent landlords from renting to a family member or friend. Always check the fine print before making a decision.

Insurance companies often get twitchy if the tenant is a relative. In some cases, your cover is invalidated if the tenant is a family member. In other circumstances, you won’t be covered if you haven’t conducted reference checks.

What’s the alternative?

Here at Parkview Property, we have a 5 star tenant selection process that offers you peace of mind and legal protection. It involves screening candidates by phone, in-person interviews, and rigorous reference, credit, and employment checks.

Remember, it’s never too late to screen your tenants – even if they’ve already moved in.

If you want to know more about our referencing procedures, please feel free to contact us here at Parkview Property Ltd  Tel; 01292 442888

Copyright 2021

by Andy

Staycations in Scotland

In this three-minute read, we share top tips for successful camping trips in Scotland or closer to home in Ayrshire.

Friday 2 July sees the start of the UK’s National BBQ Week – one of the Great British public’s favourite pastimes as well and checking out properties on Rightmove!   Whether it’s bangers, halloumi burgers or spicy cauliflower steaks on the menu, BBQs are the number one meal option when it comes to camping trips.

We’ve put together a list of essential items for a successful camping trip.

Prepare for all kinds of weather

We all are very well aware or how unpredictable our Scottish weather can be. However, there’s no such thing as bad weather if you’re appropriately dressed. But a lightweight rain coat and an extra sweatshirt are a good idea if the weather is unkind.

A travel-size games compendium might come in handy if rain forces you to retreat inside your tent.

Portable power bank

In an ideal world, camping trips should be full of wholesome fun; muddy knees, swinging on tree ropes and marshmallows by the campfire.

In reality, the kids still need their Peppa Pig fix or Instagram updates and you might need to keep an eye on work too.

So, to keep you connected, a portable charger is an absolute must-have   

First-aid kit

Be prepared for all manner of first-aid needs – nettles, insect bites, BBQ or sun-related burns, and don’t forget about the famous Scottish midges.

Kit yourself out with plasters, antibacterial cleansing wipes, healing cream, and maybe some paracetamol for the morning after. Better to be safe than sorry.

An extra loo roll (or two)

Not that we’re endorsing buying more than you need (we still remember the Covid-19 loo roll fiasco), but a couple in reserve is always sensible.

A gadget for everything

Don’t forget the corkscrew, imagine a camping trip with no wine!!  Or better still, invest in a Swiss army knife – opening tins is near on impossible without a can opener. And you never know when you might need that emergency nail file.

If you’ve got any camping tips to share, or even better, recommend your favourite campsite in Ayrshire or Scotland in general, get in touch with us here at Parkview Property Ltd.

Have a great weekend and Happy Fathers Day

by Andy

Buy To Let Calculator

https://www.youtube.com/watch?v=Okw_o4PvTho

Here's a quick and simple calculation to help you figure out if your Buy To Let Property will offer you a healthy return. If in doubt, do the math! Don't buy blind, always consider the 're sale' value for long term capital gains.

Here are a couple of things to take into consideration when looking for a really good investment.

  1. How much is the property and will you achieve enough rent to make it worth your while
  2. How long has the property been on the market. Too long? - Find out why
  3. Is it in a good Rental area, i.e. close to travel links, shops, university.
  4. Has it been rented before. If so, ask for legislative certificates and why are there no tenants in situ?
  5. What Capital Gains might I get. Although you’re initially looking at rental income as your key return, long term capital gains and property price increases can be very nice too. So invest in up and coming areas.

If you're unsure of where, what or how to purchase a Buy To Let, feel free to call us on 01292 442888

Our advice is always free with no strings attached.

by Andy

6 Reasons Why Property Inspections Are a Must for Landlords

In this three-minute read, we look at why regular inspections should be central to your property management strategy.

When you’re a busy landlord juggling a multitude of responsibilities, it’s easy to let a crucial part of managing a property – regular inspections – slide.

Landlords usually carry out inspections with clockwork regularity at the start of a tenancy, but things can get a little lax over time.

Perhaps the tenant presents as a model citizen, and the landlord develops a false sense of security. (To which we say, remember Walter White, the unassuming science teacher turned crystal meth baron in the TV series Breaking Bad.)

Or maybe, the tenant pays their rent on time and never says a peep, so the landlord assumes that everything is ticking along nicely (silence is golden, right?).

No matter how much you like your tenant or how busy you are with other commitments, never skip or delay a property inspection. They are one of the best ways to protect your investment – and head off disaster.

Here are six reasons why Ayrshirelandlords should carry out regular inspections.

  1. Maintenance

It’s easier (and cheaper) to rectify a minor maintenance issue than a major one. A tenant may not mention a leaky tap or a little bit of damp, but these problems can morph into expensive repair jobs if left unresolved. It’s also essential that you check that carbon monoxide monitors and smoke alarms are working.

  • Paper trail

The photographs and notes you take during each inspection (yes, you should be doing this) create a valuable paper trail. If there is a dispute at a later date, you’ll have evidence to support your side of the story.

  • Build rapport

If your tenants find you approachable, they’ll be more likely to let you know when there is an issue and treat your property respectfully.

  • Contractual obligations

It’s important to know that your tenants are complying with their contract and haven’t sublet the property or sneakily adopted a pack of Great Danes.

  • Spot illegal activities

With regular inspections, you can ensure your property isn’t being misused by a criminal gang. We know this sounds far-fetched, but gangs – particularly those involved in cannabis production – are becoming increasingly brazen. Trust us, the last thing you want is a police cordon and Sky News reporter outside your property.

  • Insurance disputes

Many insurers won’t pay out on a major claim if the landlord hasn’t conducted regular inspections. They argue that by neglecting to visit the property, the landlord has not been vigilant and has therefore invalidated the policy. Whatever you make of this justification, cover yourself, so you don’t wind up out of pocket.

For advice about our property management services, please contact us here at Parkview Property 01292 442888.

by Andy

The Euros Are Here!

A two-minute read looking at the price of property across our continent.

The month-long football festival AKA the Euros 2021 kicks off today

And the home nations of Scotland, England and Wales are all competing to win the crown of the best national side in Europe.

A win for Scotland would be priceless, and we thought it might be a bit of fun to look at how property prices compare across the continent.

So, we jumped on Google to see what the average prices for a place to call home are in the following eight countries taking part in the 24-nation tournament.

England – £268,000

Wales – £178,907

Scotland – £164,099

France – £200,241

Across other parts of Europe, the focus is on the average price based on a square metre of the property.

Germany – £2,922 – per square metre (psm)

Portugal – £964 – psm

Spain – £2,071 – psm (based on new build properties)

Switzerland – £5,078 – psm

To give you a comparison, the average price psm across England and Wales was £2,954 (Jan 2021) and in Scotland £1,579 (2018).

And just like star footballers, the average values depend on how in-demand the areas are.

The cost of properties in many of the above countries is much higher in cities and areas where people buy holiday / second homes.

At Parkview Property, we can’t predict with any guarantee who will win the Euros when it concludes at Wembley Stadium on 11 July, but we can guarantee you a champion level of service if you choose us to help with Selling or Letting your property.

Thanks for reading and C’mon Scotland! 

by Andy

Landlords and Data Protection

For more information to protect both yourself and your tenants, watch the video or read more details below

https://www.youtube.com/watch?v=_wfjsi8L77U

The ICO is the Information Commissioner’s Office and covers the whole of the UK. The ICO website explains that they are ‘The UK’s independent authority set up to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals.’

It doesn’t matter how many properties you have, how many tenants, nor how many people you work with or have working for you. It is the whole business that must be registered. As a landlord, you are considered to be a business, even if you’re a sole trader.

Some landlords think that their letting agent has to be registered and therefore, they themselves are exempt. This is not the case. Anyone who handles personal data and stores it electronically must register. This could be as little as a name or phone number for the tenant that was texted or emailed to you.

The ICO fee will be between £40 and £2,900 per annum. The fee is paid annually. It is worked out depending on the size of the business and turnover. There is a self-assessment you can carry out on the website. Have a look at it, ico.org.uk  This will show you what amount you will have to pay.

Tenants could raise complaints about you to the ICO if they believe you’re misusing their data. The ICO might then investigate. If you had a complaint about the tenant, like unpaid rent, the tenants could use your non-registration against you. If you don’t register with the ICO and get caught, the fines can range from £400 to £4,350.

It’s a simple 15-minute process to get registered. It’s not something an agent can do on your behalf.

Here’s what you’ll need to get started;

  • The name and address of the business that needs to be registered
  • Turnover and staff numbers
  • Business details
  • Credit/debit card details

The fee will be due again in 12 months’ time. It could be easier to give the ICO direct debit details. If you are a landlord and would like further advice about this or any other lettings issue, please don’t hesitate to get in touch for a free, no-obligation chat on 01292 442888

by Andy

WARNING - The Property Survey That Every Ayrshire Landlord Should Read

In this three-minute read, we look at a study that found some landlords were putting themselves and their investment at risk by cutting corners on checks and maintenance.

Landlords are leaving themselves exposed to the risk of criminal and civil prosecution by failing to conduct critical safety checks and taking a back seat on maintenance, a survey of renters has revealed.

The study by property management platform Plentific found that a surprisingly high proportion of landlords aren’t meeting their legal responsibilities regarding gas safety and that in some cases, tenants are handling maintenance and repairs.

The survey of 1,000 tenants found that:

  • 46% of private tenants don’t believe their gas appliances have been checked in the last year.
  • 52% of private tenants don’t have a gas safety certificate.
  • 56% of private tenants don’t have a carbon monoxide alarm.

What the law says

Annual gas safety checks must be carried out at all rental properties by a qualified engineer and all tenants should receive a copy of the subsequent safety report.

Landlords who fail to meet these obligations could face prosecution – and be fined or imprisoned. 

Furthermore, landlords could wind up embroiled in a civil suit if a tenant is injured or killed in a fire, explosion or carbon monoxide poisoning at the property.

Other maintenance issues

The survey also looked at how landlords respond to maintenance concerns raised by tenants. 

About 40% of private renters said requested works were completed within three days, although overall, the average was ten days.

Issues raised included damage to the garden (26%), property damage (24%), ­maintenance (21%), and electrical problems (20%).

Worryingly, 37% of renters said they had organised repair works themselves (20% with permission from the landlord, and 16% without).

We would advise landlords in Ayrshire to oversee maintenance and repairs (or to entrust a property expert like a letting agent to handle it) to ensure that work is done to a safe standard for a fair price.

Faulty work could result in further problems down the line or damage to your property that proves costly to rectify.

Managing your responsibilities

Being a landlord comes with a host of legal responsibilities. If staying on top of all the paperwork and red tape feels overwhelming, then you could benefit from working with a reputable letting agent like us. We can shoulder the burden for you and will advise you expertly and honestly.

Let us take the stress out of managing the property and use our experience to make your life a whole lot easier.

Please get in touch with us here at Parkview Property Ltd if you have any questions about property management.

COPYRIGHT Parkview Property Ltd 2021

by Andy

How to Keep Your Tenants Happy and Staying with You for Longer

In this two-minute read, we look at how landlords can foster a good rapport with tenants.

Every successful landlord needs a rock-solid tenant retention plan or what we like to call “a happy tenant strategy”.

This is because happy tenants are loyal tenants. And loyal tenants are more likely to stay in your property for longer, helping you to avoid the ultimate landlord bugbear – high tenant turnover.

Whenever a tenant moves out, the landlord gets hit with extra costs such as end-of-tenancy cleaning and repairs and marketing and reference checks to cover the new tenancy.

Then there is the issue of lost rent when a property sits empty in between tenancies.

So, it makes good business sense to minimise turnover by going the extra mile to keep hold of good tenants.

Here are six tips for Ayrshire landlords for avoiding tenant turnover.

  1. Choose the right tenant

By following a detailed selection process and carrying out thorough credit and reference checks, you’re more likely to land a “keeper” in the first place.

  • Good communication

Ensure your tenants can quickly get in touch with you (or your representative) when they need to. If they raise an issue, listen to their concerns, and try to be accommodating. While you want the relationship to be business-like, it also needs to be personable.

  • Keep on top of maintenance and repairs

Ensure the property is kept in good condition and respond promptly when there is an issue. If you ignore a tenant’s complaints, they’ll wonder if the grass is greener elsewhere.

  • Be honest 

Don’t overpromise or be economical with the truth. Trust is important in the tenant/landlord relationship.

  • Don’t set the rent too high

Setting the rent too high can be a false economy. If a tenant feels that they’re getting ripped off, they’ll quickly move on – leaving you to fork out to find a new tenant.

  • Be flexible

Give requests about decorating or having pets due consideration (even if you’re initial instinct is to say no). If a tenant feels that they can create a home environment in your property, they’re more likely to stay for a long time. If a tenant is working out well, consider offering them a longer lease.

Get in touch with us here at Parkview Property to find out how we can help you find and retain good quality tenants.

COPYRIGHT Parkview Property 2021

by Andy

Deposit Disputes: How Ayrshire Landlords Can Avoid the Most Common Cause of Conflict

In this three-minute read, we look at how Ayrshire landlords can protect themselves from getting caught up in the most common cause of end-of-tenancy disputes.

When a tenancy comes to an end, one issue more than any other causes disagreements.

And it’s not holes in walls or missing rent payments that take the number one spot.

According to recent data* cleaning is the most common cause of strife.

Yes, that’s right, grotty carpets, greasy ovens and filthy loos most often turn out to be the bone of contention between tenant and landlord.

The latest figures (which cover the year up to March 2020) show that there were 34,993 disputes in 12 months (a slight drop from the previous year).

Of these disputes, cleaning was cited in 42% of cases followed by:

  • Damage to the property (41%)
  • Redecoration (39%)
  • Gardening (23%)
  • Rent arrears (14%)

So why does cleanliness (or lack thereof) spark so much antagonism? The problem is everyone has a different definition of what constitutes “clean”.

A landlord may be looking for a professional standard of cleanliness, while the tenant may think waving a cloth over a surface or two is enough.

As most tenants want their deposit back, they almost always vociferously argue that they have left the property in the same condition as it was at the start of the tenancy.

I cannot stress this enough:

The only way a landlord can push back if this isn’t the case, is by having a clear and definitive inventory that includes proof of the property’s condition.

The inventory should include photographs and videos (dated, of course) and written descriptions of the condition of the property. (Make sure you cover areas that might be the subject of dispute, such as inside the oven or the shower.)

A good inventory serves two purposes:

1) It gives the tenant a clear understanding of what is expected of them. They know you’ll be checking at the end of the tenancy, so they are more likely to take good care of the property.

2) If you do end up in a dispute, you have the inventory to back up your side of the story. An inventory that is too general and lacking in detail, means it will be almost impossible to make your case.

With the issue of cleaning – as with pretty much all other aspects of being a successful landlord – it all comes back to communication.

Being open and clear with your tenant right from the beginning (and giving them a copy of the inventory) will set the right tone.

Regular inspections throughout the tenancy will maintain the momentum, and a friendly but straightforward chat just before the final inspection will leave little room for confusion.

If you’re a landlord in Ayrshire or anywhere for that matter, and have any questions about managing a tenancy, get in touch with us here at Parkview Property, we’re happy to help.

* Data from The Dispute Service – an organisation that offers a landlord/tenant resolution service – was analysed by Decorus for Sage, property management software providers.

COPYRIGHT Parkview Property Ltd 2021

LARN 2010001

by Andy