Indlu estate agents in Denton, Manchester are delighted to launch their brand new lettings service.
For a limited period only, Indlu’s “Fully Managed” service is now available to landlords for a three-month free trial. At the end of this time, landlords have the option to cancel without any obligation. Alternatively, they can continue with the service and benefit from the reassurance not only that their property is in safe hands, but that they are being charged a very fair rate for the service they receive. The standard rate for the fully managed service is just £432 including VAT and 10% (plus VAT) of the monthly rental income.
Full transparency over services and prices
The ban on charging fees to tenants has put both lettings agents and landlords under the spotlight. The former have to be able to provide clear justification for the fees they charge, while the latter have to decide how best to proceed in this new environment. In short, landlords have to take two decisions. Firstly, are they going to continue using a lettings agent at all? If yes, then will they put up the rents they charge to cover the additional cost? If no, then how can they ensure that their property is managed in a way which is both legal and effective?
The case for using a high-quality lettings agent
Property is a very unusual investment niche in that it typically requires a fairly high degree of hands-on management. What’s more that management not only has to be effective, it has to be seen to be effective. In other words, buy-to-let property investors operate in what is already a highly-regulated market and hence need to be able to demonstrate full compliance with a wide variety of laws.
In addition to the widely-known (but possibly less widely-understood) Right to Rent legislation, there are a whole host of other laws which landlords must follow. Some of these may be more obvious than others. For example, landlords may be aware of the rules around health-and-safety and HMO licencing (although these can actually be customized by the local authorities), but they may not realize that they also need to comply with legislation such as the Equality Act and GDPR. Even inadvertent breaches of the law can have significant consequences, such as hefty fines.
The issue of charges
Assuming a landlord wants to (continue to) benefit from the services of a high-quality lettings agent, they will then have to decide whether to absorb these costs themselves or increase their rent to cover them. While absorbing the costs has the potential to lower their return, increasing the rent has the potential to create voids (possibly lengthy ones), which can have even more of a financial impact.
Indlu offers an effective solution to this dilemma. It prices its services at a level which makes it feasible for most landlords to absorb all, or at least part, of the cost themselves. What’s more, it does so without compromising on customer service either to the landlords, or crucially, to the tenants. For example, if landlords opt for Indlu’s fully managed service they have the peace of mind of knowing that Indlu will not only undertake regular property checks but that they will also deal promptly and reasonably with any maintenance requests raised by the tenants themselves.
For more information on their new lettings service, please contact Indlu on 0161 820 4993.