Make sure you consider all the facts…
Managing your own tenancy
Keeping direct contact with your tenant and visiting the property on a regular basis may be something you want to do as part of managing a successful rental.
If you are happy to combine this with keeping yourself regularly updated with the latest lettings legislation and ensuring you have all the safety certifications up to date there is no reason why you cannot successfully be your own tenancy manager.
Have you considered some of the not-so-obvious reasons?
Do you have the time?
Landlords managing their own tenancies often state they never realised how much time is involved in dealing with a maintenance issue or chasing their tenant with rent arrears.
The second most common difficulty a landlord experience is finding the time to keep up to date with the latest legislation changes, which becomes a lengthy and exasperating task.
This is not without forgetting to schedule regular property inspections!
We are your tenants point of contact
Are you comfortable with your tenants being able to call you at any time, day or night, to discuss an issue with their tenancy?
There is a requirement to provide your tenant with the contact details of the tenancy manager, so if you manage your tenancy you will need to understand your tenants must be able to contact you directly with any issues.
This tends to be when you’re at work or relaxing in the evening or weekend, but worst of all it typically happens when you are on holiday or enjoying valuable relaxation time.
We stay on top of repairs and inspections…
All properties require some form of maintenance to keep them in good condition.
Part of this process involves regular contact with your tenant and routine inspections. You must not assume your tenant will automatically call you if there is an issue especially as they might not realise there is one!
Some tenants will not trouble you about issues like topping up the boiler pressure or noticing a small stain that has started to appear on the ceiling.
If an issue is not dealt with correctly it can lead to bigger problems like having to replace the boiler or a ceiling having to come down because it is beyond repair!
We oversee the compliance checks you need to carry out
If a landlord manages their own tenancy, the first thing they must ensure they do is set up reminders of the renewal dates for all safety requirements.
It is also essential to make sure any tradespeople they use are adequately insured…it’s your responsibility if something goes wrong, not the tenants.
A landlord must also ensure the EPC is up to date and within the acceptable parameters.
Let us manage your tenancy for you...
At Fairfield, we manage a large portfolio of rental properties on behalf of our landlords, and we are well versed with all the legal and safety requirements to ensure your let complies with the law.
To ensure you have complete peace of mind we are members of and regulated by the key governing bodies for the industry.