Chichester has long been a fantastic location for property investors and landlords, with demand continuing to outstrip the availability of premium quality residences, well-maintained flats, and apartments for students studying at the nearby university.
From holiday properties with views over the South Downs and Chichester Harbour to housing for professionals commuting into Chichester during the week, the rental market in the city is strong and stable, presenting an excellent opportunity.
Here we'll look at the complexities of managing one or several rental properties and how delegating these tasks to a reputable, experienced property lettings team can save time, cost and stress.
Common Challenges Associated With Property Rental Management
A great letting agent takes over all the practicalities of your property rental management, from marketing the home when a current tenant leaves to securing deposits, running background checks, ensuring tenants are settled and happy, and dealing with maintenance issues or problems that crop up from time to time.
Landlords often find that the biggest pressures on their time relate to:
- Sourcing good quality tenants, completing the necessary checks, collecting references, and performing other mandatory tasks such as ensuring they have the right to rent a property in the UK.
- Dealing with monthly or weekly rental collections, chasing up rental arrears or communicating with tenants if there are issues with on-time payments.
- Drawing up compliant, legally enforceable tenant agreements in line with the ever-evolving legislation around private property rentals.
- Protecting tenant deposits, using an appropriately tandardiz scheme to ensure deposit funds are secured and comply with conditions.
- Managing repairs, complaints or issues, from neighbourhood noise disturbances to appliance breakdowns, decorative problems or requesting permission to change something within the property or bring a pet into the home.
The regulatory landscape we've mentioned is frequently the most significant concern, where landlords must meet health and safety rules, electrical appliance testing, fire safety, gas appliance inspections and Energy Performance Certificate regulations – among many others.
Adding the unlikely but possible stress of handling an eviction scenario can mean many landlords with superb properties find the process of finding a tenant, managing the rental agreement, and remaining up to speed with their obligations demanding.
The Advantages of Working with a Professional Local Chichester Letting and Rental Management Agent
ced letting agent works as a property professional, and part of our role is to remain current as regulations and requirements change, including the long-announced Renter's Reform Bill and the changes to rules around things like tandardized tenancy agreements.
Our team has been working in and around Chichester for over 30 years, and we have an established series of processes and policies we follow for every landlord, whether we are managing one rental flat, a large-scale HMO with multiple units, or a considerable property portfolio.
In short, we take all the elements of managing a rental property and tenant away from you and implement best practice checks, tenant liaison schedules and payment collection processes to ensure your rental properties generate the returns you expect without any surprises.
Our Services for Landlords
The Tod Anstee team can step in at any time to support landlords with newly acquired rental properties looking for long-term tenants or those keen to reduce the time they spend communicating with tenants or managing rental payment collections.
We offer a comprehensive service and can manage as much or as little of your rental business as you would like, including:
- Marketing rental properties across West Sussex and via our Mayfair, London branch.
- Tenant screening, reference checks and deposit management, ensuring you are satisfied your tenant is reliable and has a stable credit background.
- Rental collections, providing regular updates and ensuring your finances are well protected and collected on time.
- Property maintenance, managing tenant relationships and carrying out necessary repairs quickly, efficiently and cost-effectively through our network of experienced local tradespeople.
Adding Value to Rental Property Returns With Expert Support
We'd always recommend working with a local letting agent who can visit tenants directly if there are any issues to deal with, can suggest contractors that offer excellent standards for a competitive cost, and understands each aspect of a property that will dictate the ideal tenant.
Examples include apartments aimed at professionals or family properties with large outdoor grounds. The types of tenants most interested in these two very different types of properties should be carefully targeted through professional marketing, ensuring landlords and tenants are equally happy with their agreements.
In many cases, a local lettings team can improve the profitability of owning and letting a rental home by:
- Conducting thorough checks before recommending a landlord offer a tenancy agreement, pre-empting potential issues or tenancies unlikely to meet their requirements.
- Reducing the cost of maintenance works, including regulatory compliance jobs. As an established lettings team, we can achieve economies of scale on most work and manage any repairs directly with our approved contractors.
- Marketing a property to the most suitable tenant groups and highlighting aspects of the property that will most appeal – from commuting distances to local schools and amenities.
Maintaining regular contact with tenants and providing a location where they can pop in to discuss the types of rental homes they would like is ideal and means our lettings team establishes positive relationships with all parties.
Working With the Tod Anstee Chichester Lettings Team
Tod Anstee's lettings department is available at any time to discuss your objectives or rental property portfolio, either virtually or in person, at our offices based in West Pallant, Chichester.
Our primary goal is to offer every landlord peace of mind, assuring they have the convenience of an experienced letting agent who will deal with every element of their property rental and deliver the hassle-free experience we are known for.
Please get in touch to arrange a good time to talk.
Original Source: - https://www.todanstee.com/latest-news/letting-agents-chichester-for-rental-management/
