Sales & Lettings

blog yellow circle pmgHere are various blog resources related to the sales & lettings of a property, and all related transactions. Whether you're involved in these directly yourself, or you're working with other sales/letting agents and interests, these help highlight important property managemnet factors to consider.

 

The Secret Ingredients of a Sales or Lettings Property Management Pack

management pack lettings property management guideYou often hear of these with a residential sale or letting – a ‘management pack’, or sometimes ‘lettings pack’ being needed.

In short, it’s a set pack of information about a property that any proposed new owner or tenant wants in order to gain a better understanding of issues at a property. Almost a form of MOT, as with a car, to find out if a property has a clean bill of health.

Alternatively you can have Replies to Enquiries which are on a similar line of requesting information, but more of a questionnaire that the seller or landlord completes.

The packs are more ready-made, and therefore arguably easier to issue. Hence the frustration by some at the perceived high costs of these, sometimes hundreds of pounds for what appears to be a...

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The Fee Basis For Asset Management Advice

asset management fees property management guideAsset management is very much linked with core property management, and is to do with the bigger-picture property asset and how it can be managed and worked in order to become a more valuable and desirable asset. This benefits from lots of day-to-day core property management tasks like rent collection, compliance and maintenance, and effective service charges in order to keep costs down, tenants happily in occupation, and rents and values up.

However, asset management then goes further to look at wider strategies to improve things, so for example if any new lettings and terms can be agreed, any existing leases and occupation tweaked, and even any future re-development or refurbishment angles considered. It’s about extracting that...

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The New Right to Rent Checks Under the Immigration Act

right to rent immigration act property management guideFrom 1st February 2016 there was a notable change for all private residential landlords in the UK and what ‘checks’ they need to make on new tenants, with 7 out of 10 landlords back in February apparently not realising this.

This Right To Rent scheme has been piloted by the government in the West Midlands since December 2014, but was introduced and now applicable for the whole country through the Immigration Act 2014. Get this wrong and you face a civil penalty with up to £3,000 fine, and proceedings underway through parliament to bring in further sanctions including imprisonment.

Put simply, landlords need to check that all adult occupiers are legitimately allowed to reside in their property as their main home with a ‘right to rent’ in...

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