Is your agent constantly trying to maximise your income?
A good property manager should always be on the lookout for legitimate savings and income opportunities to make your investment work better for you.
At Rent North East, we regularly renew our tenant’s contracts, and increase income for our landlords.
How we do this:
1: Our tenants are usually keen to renew and extend their contracts, largely as a direct result of our constant efforts to maintain an excellent relationship with them. We do not charge our landlords or tenants anything to renew their agreements.
2: We regularly check our tenant’s benefit entitlement for those who are in receipt of housing benefits, and ensure that their agreement is up to date.
3: We put rents up incrementally for all tenants, whether professional, student, or benefit recipients, in a way that is affordable for tenants.
Alongside these efforts, we also work hard to cut costs for our landlords. In addition to usual measures to try avoid letting properties to bad tenants, maintaining regular inspections, and carrying out inventories before and after letting properties, we also try to ensure that strict control is kept on expenditures.
How we try to save our landlords money:
- We troubleshoot all issues to avoid unnecessary or avoidable expense.
- We ensure that tenants are aware of what is / isn't the landlord’s responsibility.
- We use contractors who carry out good standards of work, to try to avoid repeat visits.
- We use contractors who are reasonably priced, and try to obtain discounts whenever possible
- We take advantage of bulk discounts granted to us as a larger customer, and pass those savings on to our landlords
- We ensure that tenants are kept updated, to try to avoid causing frustration. Frustrated tenants report more issues!
- We ask our landlords to approve any expenditure before we carry out any works, giving them the opportunity to decline our quote, or to raise any queries. (Our landlords can also request a breakdown of labour and material costs, to help them to understand contractor quotations.)