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How To Tell If Your Letting Agent Is An Expert

Posted on by prateek

General Manager Toby Martin breaks down exactly how to tell if your letting agent knows their onions.

If your boiler broke down, what would you do? The chances are you would find a Gas Safe plumber to fix it for you – someone suitably qualified, who you can trust to carry out a quality job.

You would be highly unlikely to approach someone with no background in plumbing or boilers – the local greengrocer, perhaps. Why? Because if they get it wrong, it could cause a lot of damage.

With over 150 different pieces of legislation to comply with over the course of a tenancy, being a landlord is no different. If you get it wrong, it can cost you dearly.

Why is it then that so many landlords place their valuable investments in the hands of unqualified and unregulated letting agents?

Consider this – on any given day, anyone can wake up, get out of bed and decide to open a lettings agency. Within hours, they can have a Rightmove page and a glossy website boasting unsubstantiated claims about their service levels. In an unregulated sector, anyone can become a self-appointed expert overnight, even if they have no real knowledge of the industry.

So to all of the landlords reading this, my question is: how do you know you’re hiring the expert, and not the greengrocer?

This is where ARLA Propertymark come in. Whenever you see this logo (right), you know you’re dealing with an agency that has chosen to be regulated, chosen to undertake industry qualifications, and has made a commitment to stay up to date with new legislation through ongoing CPD and training. In other words, you’re dealing with an expert.

With landlord regulation at an all-time high, and strict punitive measures awaiting those who do not comply, the risks of using an unregulated agency are too great.

You’re in safe hands with a regulated and qualified agency.

Reside is an award-winning independent letting agent in Bath. Please get in touch if you would like to discuss any aspect of letting or managing your property; we would love to hear from you.

We Are Hiring: Lettings Negotiator

Posted on by prateek

Please note, this position has now been filled.

Lettings Negotiator

Hours: Monday – Friday, 9am – 5.30pm, and occasional Saturdays.
Salary: £26-30k per annum

Reside is an independent letting agent whose innovative, ethical and successful service is highly praised by its tenants and landlords. We recently won our second Bath Property Award, in which we were commended for the growth of our business and the innovative ways in which we adapted to the pandemic.

We are looking for an approachable, capable Lettings Negotiator to join our hard working team, who will contribute to our future growth and improvement. The role has potential for growth as your own knowledge of the industry develops.

You’ll join a busy and dynamic lettings team that is at the core of our company’s profile, providing a warm welcome to new clients and ensuring that they receive a personal and professional service.

In this role, you will:

  • Be the first point of contact for prospective tenants, registering them on our CRM software and matching them to suitable properties.
  • Schedule and conduct property viewings.
  • Negotiate tenancy terms between landlords and prospective tenants, and provide landlords with regular updates on the letting of their property.
  • Record video property tours, and contribute to Reside’s video marketing content.
  • Produce property particulars and brochures.

Requirements

  • A compassionate and approachable manner, with the ability to form a good rapport with our clients.
  • You can command a busy workload, offering and accepting support from your fellow Negotiators.
  • Confident computer user, especially MS Office.
  • A clean full UK driving licence.
  • Industry experience and qualifications are desirable, but not essential. You must be prepared to study towards a relevant qualification, if you do not already hold one.

Benefits

  • Salary from £26,000 to £30,000 per annum, based on your experience and qualifications.
  • The opportunity to obtain an industry qualification.
  • 20 days’ annual leave, plus public holidays.
  • Headspace account to encourage a healthy and mindful approach to you work.

This is a permanent full-time role.

If you are interested in applying for this role, please send your CV and a covering letter to ben@localhost.

Toby Climbs Everest For Charity (Sort of)

Posted on by prateek

The Sofa to Summit challenge caught my eye as a way to become more active whilst fundraising for a cause that is close to everyone’s hearts right now. The NHS and the RUH have been spectacularly stretched since early 2020, and it will feel good to do something, no matter how small, in recognition of that.

A happy, healthy Brandon Bower

Over the course of any normal year, Reside usually organises several fundraisers to support local charities; in the past, we have worked with Off The Record Bath, Bath Area Play Project, VOICES and Bath Samaritans to name a few. However, given the recent lockdowns it has been difficult for us to arrange these kinds of events over the past 12 months – so I jumped at the opportunity to do something again that gives back to our local community.

The RUH, however, holds a special place in our hearts at Reside due to the experience of our Managing Director and the founder of Reside, Ben Bower. In 2018, Ben’s wife Natasha gave birth to their son Brandon at just 28 weeks – more than 12 weeks early. It was a tough time for Ben & Natasha, but the wonderful staff and state of the art facilities in the Neonatal Intensive Care Unit meant that they could not have been better cared for. Brandon happily went home two months later – still in advance of his original due date!

I recall visiting Ben, Natasha and Brandon on the NICU ward. We’d had a baby boy ourselves just a few months before and were alarmed by what they were going through, but so reassured to see how well they were being looked after. Having heard so much about Brandon, Ben & Natasha’s experience, I’m very proud to be fundraising for the Forever Friends Appeal – no matter how small my contribution is, I am sure it will help to maintain the hospital’s incredible work.

Working with inspirational local people, our vision is to raise the funds needed to support the delivery of gold-standard healthcare in first-class surroundings.  We aim make a difference to every patient and every condition.
The Forever Friends Appeal 

My plan for scaling Everest is currently very basic: 48 flights of stairs for 61 days. But as lockdown restrictions ease, I am hoping that Bath’s hilly surrounds will help to mix up the scenery and preserve the stair carpet.

This is, would you believe it, my first time climbing Mount Everest, but I have thrown myself into similarly reckless commitments before. Despite being supremely unathletic, I ran the Bath Half in 2017 to raise funds for Sarcoma UK. I was joined by several members of the Reside team, and this has since led to similar unwise but worthy endeavours, including another Bath Half in 2019 in aid of Jamie’s Farm.

If you would like to track the progress of my climb, or even make a donation, you can find my Sofa to Summit page here.

Reside is an award-winning independent letting agent in Bath. Please get in touch if you would like to discuss any aspect of letting or managing your property; we would love to hear from you.

Covid-19: Landlord Legislation Update

Posted on by prateek

Extended Section 21 Notice Periods

The Ministry of Housing, Communities and Local Government (MHCLG) has confirmed that it is to extend the evictions ban in England until the 20th of September 2020, and will also introduce six-month long notice periods that will run until the 31st of March 2021.

The ban, which was announced in March as a result of the Coronavirus pandemic, was to end on the 23rd of August, with some cases due to be heard immediately at the newly approved Nightingale courts. It has also been confirmed that once the courts do re-open, only serious cases such as those involving anti-social behaviour and domestic abuse will be prioritised.

Now that the ban on evictions has been extended, the Government must use this time to introduce further guidance and prepare the sector. It is important to take steps back towards normality so that both landlords and tenants have access to the justice system while putting measures in place to offer further support to tenants who have built up COVID-related arrears and this four-week extension will give Government the time to introduce such measures.

Timothy Douglas, ARLA Propertymark

MHCLG has advised landlords to work with tenants who are experiencing financial difficulties as a result of the pandemic and consider all possible options – such as flexible payment plans which take into account both parties’ circumstances – to ensure cases only end up in court as an absolute last resort.

Landlords must disclose impact of COVID-19 on tenant

Those cases which do make it to court will be affected by new rules requiring landlords in England and Wales seeking possession of their properties to set out in their claim any relevant information about a tenant’s circumstances.

This information includes what effect COVID-19 has had on a tenant’s vulnerability or whether they are claiming benefits – information should also be provided on how the pandemic has affected a tenant’s dependents, if they have any. However, the rules do not require agents or landlords to actively seek out information but merely to make the court aware of what information is known.

The rules do not change the regulations around possession for landlords and they do not amend Section 21 claims or Section 8 arrears claims. What is changing is some of the steps that landlords must follow if they want to apply for possession through the courts.

STAY COMPLIANT WITH PROFESSIONAL MANAGEMENT

With landlords now needing to comply with nearly 150 pieces of law, it has never been more important for your tenancy to be managed by a knowledgeable, professional and regulated agency.

For guidance on all aspects of tenancy management, or if you are considering letting your property in Bath, contact us on 01225 445777 or info@localhost.

New Year, New Letting Agent?

Posted on by prateek

A Landlord’s Biggest Decision.

A very Happy New Year from us all at Reside! Some people’s 2020 resolutions will involve exercising more, eating less or – heaven forbid – both; however, many take this as an opportunity to review contracts and working relationships – who to bank with, or which lettings agent should manage their investment properties.

When letting a property a landlord has two vital decisions to make, both of which can have huge implications on their health, wealth and quality of life.

It’s really no exaggeration to say that if a landlord chooses the wrong letting agent and compounds that error by renting their property to a tenant who has not been properly vetted, one thing is usually guaranteed – trouble. And often a lot of it.

Poorly referenced tenants cause the most problems and letting agencies that don’t have stringent checks in place leave their landlords vulnerable.

At Reside, we’ve always believed that one of the most important parts of our role as letting agent is to ensure the right tenants are placed in the right properties. So how do we ensure we get good tenants for our landlords? Well, during our years in the property lettings business we’ve learned (sometimes the hard way) what to look out for.

So what makes a good tenant?

Simply someone who pays their rent on time, respects the property, is reasonable to deal with and gets on with the neighbours. These are all factors which can contribute to a successful long term let.

The next part of the process is one where less well-equipped or experienced agencies often fail.

A good quality referencing agent is vital for ascertaining credit history, as well as ensuring the tenant has the means to pay the rent. Our referencing covers employment, credit and previous rental history.

While proper referencing is very important, it’s sadly not a 100% guarantee that the tenant will be a good one. But, when done properly, it is usually a very good indication of the calibre of the person applying to rent your property.

Once a tenant has been selected it’s important for the property to be professionally and ethically managed. Keeping a tenant waiting for an unreasonable amount of time for a washing machine or boiler repair could lead to problems for the landlord, such as claims for compensation. It’s important for any prospective landlord to apply a vetting process to their agency. Are they a diligent, conscientious and regulated letting agent? This is where Google reviews are particularly useful, as they give a genuine insight into the experience of a company’s clients. You can also check what professional affiliations your agent has; here at Reside, we are regulated through our memberships of ARLA Propertymark, SafeAgent and The Property Redress Scheme.

“The amazing team at Reside have let and managed our property in Bath for the last two years. I cannot tell you how incredible their level of service is… above and way beyond any estate agent we’ve dealt with in the past.”
– Google review from Betsy Huggins, Landlord

Equally, a landlord should not always be swayed by the agency who places the greatest value on their property. If a lettings agent overprices a property’s rental value, it could lead to extended void periods. These costly episodes put pressure on the landlord and the letting agent to fill the void as quickly as possible and this can mean the vetting process is not rigidly carried out. Which, as we said at the start of this article, can lead to a lot of trouble.

If you want to let your property in Bath quickly, professionally and cost effectively call Reside on 01225 445777 or email: info@localhost for honest, expert and friendly advice.

You spin me right round…

Posted on by prateek

We’re always looking for new ways to show our landlords’ properties, and better ways to help our tenants decide which properties suit them. So when we came across BubblePix, producers of a brand new technology that creates 360° photographic images, we saw an exciting opportunity.

The BubblePod creates 360° images that will give our prospective tenants an honest view of property interiors – before they decide to visit.

We’re proud to announce we’ve made a small investment in BubblePix and that inventor Tom Lawton has agreed that Reside will be pioneering this exciting technology.

There are two elements to the technology: the BubblePod and the BubblePix App.

The BubblePod is a clockwork turntable that grips your smartphone and smoothly, silently rotates it by 360º.

Meanwhile the BubblePix App on your phone captures the 360º image. Users can shoot and share images in less than a minute.

Reside has agreed to act as a test bed for the early production versions. This means we’ll be one of the first letting agencies to use these images to present our properties.

Once they go into production, this will create a fantastic tool for letting agents everywhere.

To find out more about the BubblePod, click here.

Rent payments to go on tenants’ credit files

Posted on by prateek

By the end of 2012, tenants will have details about their rental payments included in their credit file under an initiative launched by Experian, one of the UK’s three credit reference agencies.

Under the new scheme, tenants who consistently pay their rent on time will benefit from an enhanced credit rating, thus boosting their chances of being granted mortgages, loans, credit cards and future tenancy agreements. Conversely, tenants who have paid their rent late will find that their credit score falls – something that will show up on future credit checks by banks, landlords or letting agencies.

Tenants living together under a joint tenancy agreement will also have to keep on their toes, as late joint rent will also count against them, regardless of who is to blame.

Reaction to the announcement has been mixed, with experts coming out both for and against the proposal. Quoted in The Guardian, Sian Williams, head of Transact, said “this could be a very useful tool for allowing [renters] to access a wider range of services at a more affordable cost.” She concludes that it is a “very welcome development for many people living in private rented accommodation, who until now have often found it difficult to build a credit history.”

Dan Plant, a money analyst for MoneySavingExpert.com, is rather more reserved in his reaction to the initiative: “This adds to the ever-expanding pool of information banks can use to make a snap judgement about you, and it’s not even about how you’ve previously borrowed money. This makes it absolutely crucial you pay your rent on time, and regularly check credit files to make sure everything that’s reported is true – and if not, get it put right.”

Experian is now beginning the process of talking to major letting agents and landlords to encourage them to state in tenancy agreements that they can share tenants’ payment history. If successful, the data should start to appear by the end of the year.

At Reside, our tenants are referenced through Endsleigh, a branch of of Experian.

RESIDE Bath on Phil Spencer Podcast.

Posted on by prateek

A couple of weeks ago, our resident Property Mark Trustee and Regional Executive (and all-round lettings expert) Mr Toby Martin (MARLA), was invited on to MOVE IQ’s local housing market review podcast with host and MOVE IQ founder, PHIL SPENCER!

MOVE IQ is all about providing all the information and a one site fits all space for all property questions. With a range of property experts and journalists across all backgrounds providing crucial information to the consumer.

MOVE IQ’s site aims untie the common goal of making sure that everyone has no-nonsense access to all market information when looking to sell, buy or rent, away from any bias and to make sure they meet all their readers and listeners needs within a market that is constantly changing.

RESIDE shares this goal of making sure that we too provide all the market information that we can, but on a more local basis here in the City of Bath. With that said, Toby was ever so kindly invited to be involved with the podcast and talk all things Bath rental market. He gives meaningful insight into the growth the bath rental market has seen over the last decade and what this has meant for the market, the growth in the average rent, difficulties landlords are facing and why we need more investment in the sector.

In this podcast Toby talks all things Bath Rental market. All the trends and statistics you could ask for are all here alongside more market insights further afield. If you wish to watch then please click the big red play button in the video attached below!