Tuesday, 16 July 2019
In a marketplace where legislation has recently caused a change in pace and a shift in power and control. The relationship between the landlord and the tenant is entering new territory presently. Never has there been more of a need for a strong management relationship with a trusted Lettings Agent.
The fee changes, which came into law at the start of June 2019, have seen the tenant move into the driving seat of the lettings market and the volume of properties available to let suddenly increase. For the first time in recent history, stock is higher than demand. Tenants have options and choice. Coupled with the costs of a tenant change now laying at the foot of the landlord rather than the tenant, and it becomes more important for properties to be presented with their very best foot forward and for landlords to be prepared to invest into their properties.
One of our multiple house landlords, whose houses are always full and sort after, maintains a philosophy of providing the very best decor in order to attract the best possible tenant who will be well treated, and in return, treat his properties with respect.
Importance of a Strong Relationship
Michael Goodridge is a professional painter and decorator, owning and running Goodridge Commercial Decorating and Maintenance Contractors, in Northampton. A relationship has been built up over a number of years between Michael Goodridge and Howkins & Harrison’s lettings management team at Northampton and has developed into a relationship of absolute trust. The team at Howkins know that any property ready for viewing by potential tenants, owned by Michael Goodridge, will be presented with excellent interior standards, good quality appliances, fixtures & fittings. In return, Michael has had the lettings management team at Howkins & Harrison provide quality, reference checked, trustworthy and reliable tenants to fill Michael’s properties for over 25 years.
Michael’s standards for his properties when we let them on his behalf, mean that the tenants have respect for their homes. Moving into a property in a good state of repair ensures that the tenant can begin their tenancy on a solid footing and maintain good standards during the duration of their tenancy. For their part, the lettings management team at Howkins & Harrison are expected to provide good quality, referenced tenant who know the rules: keep the property to a good standard, pay the rent in good time and report any issues as soon as possible.
By reply, Michael will refurbish his properties regularly,
keeping them fresh and attractive. Coupling the quality of the tenant with a
landlord who really looks after his properties means that the Michael Goodridge
properties are always in high demand and let very soon after they hit the
Investment into the Portfolio
Michael invests into properties in key locations and without the need for mortgages to fund their purchase. Therefore, he enjoys a solid capital return on his investment and sees a consistent capital growth for his assets.
Of course, things do go wrong! On one occasion, the Howkins & Harrison lettings management team acted quickly upon a tenant who had been late paying rent a couple of times, giving the tenant notice to leave. When the team attended the property to check the tenant out and to complete the exit inventory, they were faced with a house minus the brick walled conservatory that had been in place when the tenant moved in! The knee-high walls marking the circumference of the conservatory were all that remained of the structure! The theft was immediately reported to the police and resulted in a successful prosecution!
Howkins & Harrison offer a variety of options to all manner of landlords- those with just one property, through to those with a significant portfolio. If you would like a no obligation consultation to discuss your property options, in the first instance, please contact Howkins & Harrison’s lettings team at the Northampton office on 01604 823445 who will direct your call to the most appropriate office for your enquiry. We have a variety of service options, including part and fully managed services, let only and bespoke options to reflect landlord’s individual needs.