Archive for May, 2013
So many thanks for all your very professional advice and tremendously helpful information.
With thanks, and my best regards
Mr Gerard O’Sullivan
Tanya Macleod, Property Manager at iConn Property Management writes;
In April, two members of staff attended their annual First Aid Training Course and I’m pleased to announce that they both passed with flying colours! Congratulations to Iris O’Connell, Managing Director and Sam Douglas, Accounts Coordinator! We are in safe hands for another year!!
Sam Macdonald, Lettings Negotiator at iConn Property Management writes;
Here’s some great advice from The Association of Residential Letting Agents (ARLA) regarding buy to let properties:
Think of buying to let as a medium to long term investment.
Seek advice from an ARLA letting agent on local market demands.
Get your sums right. Will the rent cover borrowings and costs, after allowing for void periods?
Decorate, fit out and furnish to high quality standards, especially kitchens and bathrooms, to attract the best tenants and let quickly every time.
Use an ARLA member as your letting agent. They have Client Money Protection, hold Professional Indemnity Insurance to required standards, have staff trained to ARLA’s competency standards and are kept up to date with the latest legal and regulatory requirements.
Let personal taste cloud your judgement. Be sure the property you choose meets market requirements
Purchase anything with potential maintenance problems like a lot of woodwork or large gardens. It will add nothing to the rental value and cost a lot to keep up.
Think that the running of an investment property to let can be left to friends or relatives in your absence. Tenants require a full management service.
Use off-the-shelf tenancy agreements from HMSO or law stationers, or forget to issue the right notices or fail to have a proper inventory and condition report made before a tenant moves in. Leave all documentation to a professional agent.
Furnish with second hand furniture or cast-off soft furnishings. These will probably contravene the Furniture and Furnishing Regulations.
If you require any further information regarding renting your property, please feel free to contact us on 01227 765008.