In a world of referendums, extraordinary elections and surprises around every corner, we can report some reassuring predictability from our lettings department.
No rollercoasters here: recent months have been characterised by satisfied people wanting to renew their tenancy agreements, and landlords happy to retain good quality, creditworthy tenants.
We see various factors coming into play. Our tenants like the flexibility of renting, particularly when the horizon is not perhaps as visible as it used to be. Some may already own a property elsewhere, and/or prefer to put their capital to work in other ways. They also – and who wouldn’t - enjoy being able to hand over every maintenance and upkeep duty to someone else.
For landlords, the key as ever is to offer high-quality properties with a close eye on market dynamics. Tenants have instant access to market data and rates. Realistic, competitive rents are key to maximising returns and minimising voids.
Behind the scenes, we continue to relieve our landlords of a growing admin burden: from energy efficiency certificates and gas safety checks, to the face-to-face interviews and verification now required by Right to Rent legislation.
We also continue, as we always have, to keep administration fees (for tenancy agreements, credit checks, inventories and so on) on the tightest rein. We believe this is not only fair, but good business that encourages loyalty. Indeed, we have one tenant who has renewed with us every year since 2004, and several landlords have trusted us with their properties for over 30 years. We are proud of our relationships.