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This top tip guide is to help you find the right professional letting agent for you.
How to choose a Letting Agent
The growth of Buy-to-Let is getting stronger increasing the popularity of rental property as a long term investment. 20% of households were renting in the private sector in 2015-2016, that has more than doubled since the 1980's/ 1990's. Since 2000 2.5 million more households now rent.
Most landlords will appoint an agent to handle the rental. There are a considerable number of letting agents. Given that the agent will be responsible for financial and legal matters you need to make sure you are happy with the agent you choose.
It makes sense to use a letting agent that is located in the same area as the rental property. Most towns have more than a few lettings specialists to choose form. You should always look out for agents who are members of a property professional body. For example Dinsdales Estates are member of Safeagent and ARLA Property Mark. You should look out for these agents as they follow codes of professional conduct and have proper protection schemes to protect the money of landlords and tenants.
Most letting agents offer more than one level of service. Find a Tenant Only means that the landlord will be undertaking the day-to-day management for the letting but the agency will ensure all the legalities are covered up until it getting passed back to the landlord to manage. Full management service is when the agency takes care of everything. The agency will keep you up to date with the property without it being a stress to you.
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We know the new lockdown and the guidelines can be confusing so this blog will help explain what you can and cannot do when it comes to moving home.
While people are only allowed to leave home for limited reasons, non-essential shops and schools have closed. We expect the restrictions to remain in place until mid-February.
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During the current coronavirus lockdown restrictions virtual property viewings are increasingly helping movers find their perfect home. The housing market remains open and essential in person viewings are permitted but they should be done virtually wherever possible.
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Buying and Selling Over Christmas
Dinsdales know the importance of online presence, so we make your home live and visible on major property portals. For example Rightmove and On the Market. To have your property live and ready for Christmas/ the new year you need to be instructing your agent sooner rather than later. At Christmas people have more spare time to browse properties online due to the festive season. Property portals statistically show that there is a substantial spike on Boxing Day. Agents appreciate it is a busy time of year so they offer a 'DO NOT DISTURB' policy. This is when your property is live and enquiries are being generated ready in preparation to book viewings in the new year. As estate agents we believe sellers should take advantage of the busy time of year. Buyers are often looking for properties over Christmas ready to buy in the New year. You want them to see your property before more sellers make their houses live in the new year.
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Our Guide to some Lettings Rules and Regulations
- All deposits must be placed in a Tenancy Deposit Scheme
Any deposits must be placed in a designated government backed tenancy deposit scheme within 30 days of the tenancy commencing or the deposit being received. Dinsdales use My Deposits (https://www.mydeposits.co.uk/). Failure to do this is a criminal act and may make the landlord liable for a fine at court of up to 3 times the deposit sum. Putting the money into a separate bank account doesn't qualify. Failure to place a deposit fund within a scheme will terminate any section 21 Notice (Eviction Notice) which the landlord wishes to serve.
- Electrical Installation Condition Report (EICR)
An EICR is when an Electrician inspects all the properties wires for fraying or damage. They also note where wiring has or could become unsafe. It is the responsibility of the landlord to make sure every tenanted property they have, has a valid EICR (an EICR is only valid if carried out by a registered Electrician). They are valid for 5 years and typically cost between £100-£250. Under the Landlords and Tenants Act (1985) you must ensure the electrical Installation in a rental property is maintained. It is Law to have the EICR done at least every 5 years.