Tenant Fee Ban

Business Growth

Tip 2: Upselling

This is really to focus and formalise on the way that you upsell during the tenancy process. We’ve got a lot of stuff in place for our clients, things like online landlord portals, repair reporting and a whole host of innovative prop-tech that will generate you additional income which you may not be using at the moment. You can look at key areas, like utilities and communication packages and link to those companies so there is an automated process in place. Therefore, you’re not increasing your overhead but you are generating additional revenue from the tenancy. Discover Openview property software, call 0800 328 0460, email info@vtuk.com or visit vtuk.com.

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Tenant Fee Ban

Tip 6: Move Landlords Back To A Managed Strategy

Now for this one you need a bit of a retrospective scope. It’s to change something that a lot of agencies actually put in place 4 years ago, which was to move away from a managed service to a let only service, theory being that there was actually more profit in let only than there is in a managed service. Well, with the fees going obviously a managed service is a lot more attractive and it does generate far more revenue. So, the strategy is to move your landlords back to managed strategy. We all know a managed strategy is actually better for the tenancy, all that you as the agent should do is help the landlord understand why it’s a benefit. I’m sure you’ve got your own ideas as to how you’re going to do this but if you need any help, give us a call on 0800 328 …

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Tenant Fee Ban

Tip 9: Move Landlords Back To A Managed Strategy

Now for this one you need a bit of a retrospective scope and it’s to change something that a lot of agencies actually put in place in the last 4 years, which was to move away from a managed service to a let only service, theory being that there was actually more profit in let only than there is in a managed service. Well, with the fees going obviously a managed service is a lot more attractive and it does generate far more revenue. So, the strategy is to move your landlords back to managed strategy. Explaining why this is better, well we all know it is actually better for the tenancy and helping the landlord to understand why that’s a benefit for them. I’m sure you’ve got your own ideas as to how you’re going to do that but if you need any help, give us a call and …

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Tenant Fee Ban

Explaining The Tenant Fee Ban

With the fee ban set to come in on the 1st June 2019, everything from the fees you charge to deposits is set to change. Below we’ve outlined some key things you need to know. Security Deposits These must be capped at 5 weeks rent where annual rent is below £50,000. Pet deposits are banned but increased rent can be charged provided this is advertised in the property advert that an increase in rent will apply should the tenant have pets. Pest control can come out of the security deposit but cannot be charged as an admin fee to tenants during the tenancy. Holding Deposits A deposit can only be withheld should the: Tenant pull out Fails Right To Rent Provides false or misleading statements (If the tenant actively lies about earnings or CCJs, this lie must be able to be proved via a tenant application with declaration.) The agreement …

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Compliance

Things Landlords Should Be Aware Of

With over 150 forms of landlord law, the complexities of drawing up a tenancy agreement and the continuous maintenance of the let, letting a property is getting more and more difficult. As a letting agent, you should elaborate on this when trying to win business from your landlord, convincing them to turn to a managed strategy. Below we’ve outlined key things your landlords and yourself as a letting agent need to consider. 1 Repairs Ensuring you correctly manage your repairs and maintenance will not only allow you to successfully serve a Section 21 but will also keep the property in good condition, reducing the risk of the tenant living in conditions unfit for human habitation. Openview’s Task Manager ensures tenant’s report repairs, instantly, online to yourself, meaning you can consult the contractor immediately, resolving the repairs process. 2 Tenants Knowing your tenant is an important part of letting a property. …

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Lettings Tips

Beat The Tenant Fee Ban

With the tenant fee ban due in 2019, VTUK have put together a series of videos outlining how letting agents can circumvent the income they’ll lose as a result of the ban. Whether it’s increasing rent/management fee or moving your landlords from let only to a managed service we’ve pondered everything you could be doing to not just replace your income but grow your agency in 2019. Find all of our Ponder Property videos below or watch the full playlist of videos on YouTube here. Challenging The Lettings Fee Ban Tip 1: Increase Rent Tip 2: Upselling During The Tenancy Tip 3: Sell Separately As A Service Tip 4: Sell Involuntary Landlords Stock Tip 5: Increase Tenant Fees Now Tip 6: Move Landlords Back To A Managed Service Tip 7: Fixed Costs Tip 8: Use Automation Tip 9: Charge For Additional Landlord Services Find out more about VTUK’s property software, …

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