The market for renting out residential property has dramatically expanded in recent years with the increasing popularity of rental property as a long term investment. Most landlords will use an agent to manage the rental of their property and it is important to choose the right one. Things to consider when choosing an agent are;
It makes sense to use a letting agent that is located in the same area as the rental property. Xact have a network of offices that manage rental properties across the whole of Solihull, South Birmingham and surrounding areas.
Xact are able to offer landlords two levels of service.
· Tenant-find – Xact will market your property for rent, find and vet your tenant and collect the security deposit and first month’s rent. The landlord will then have ongoing responsibility for the rent collection and management of the property.
· Full Management – Xact take care of everything to do with the letting from start to finish and will only involve the landlord if something out of the ordinary needs your attention.
For new or less experienced landlords, full management is often the service level of choice for peace of mind.
Xact will handle all the paperwork involved in a letting your property. We will take references on new tenants, carry out credit-checks, confirm the tenant’s employment details and check that the tenant has the right to reside in the UK before drawing up the tenancy agreement.
Marketing, advertising and rent
We can advise you on what level of rent you can expect for your property and will be able to show you details of similar properties that we have let for comparison purposes. Xact will market your property online, via our network of local offices, in the local press and to our existing database of applicants looking for properties.
Complying with deposit law
Xact comply with the Tenancy Deposit Scheme (TDS) Code of Practice and will, on your behalf, ensure that your tenant’s security deposit is paid before they move into the property and is held securely within an approved TDS third party.
There are numerous legal responsibilities for landlords when letting a property which Xact will ensure compliance with, specifically obtaining the necessary gas and electrical safety certificates and Energy Performance Certificate (EPC).
Inspections, Repairs and maintenance
Xact will regularly inspect your property to ensure that the tenant is taking good care of it and there are no outstanding maintenance issues to be addressed. Xact use a number of approved trades people who can be called upon to undertake repairs and maintenance although landlords are free to appoint their own trades people if they prefer.