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Why should I use Your Space Property Management?There are many reasons to consider me as your provider as I deal directly with the tenants, saving you a great deal of time and money during the entire rental process. Here are only some of the benefits; Enhanced screening of tenants, ensuring legal safety requirements are met, swifter occupancy ratio, compilation of robust tenancy agreements, access to wide range of maintenance expertise, improved rental values, not having to deal with face to face issues with tenants, and making sure rent is paid on time. Contact me to find out more by clicking here.
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I am a potential tenant, what should I do?You can contact me to discuss your requirements and I will endeavour to find a suitable placement for you within our area of influence of Hertfordshire, Bedfordshire, and Cambridgeshire. Even if I don't have a potential property available, we may still be able to assist. If I can help, I will.
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Can I rent a property without using a property management company?Of course you can. However, you must be aware of certain legal or statutory conditions placed upon you as a landlord. If you do not apply these requirements, it is likely you could be deemed liable for any offence found as a result of either reporting or occurrence. I can assist you with meeting these requirements so you may continue to manage your own portfolio. To find out more, please contact us by clicking here.
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What happens to the deposit placed on a rental property?You should always ensure that you are included in a Deposit Protection Scheme, whether you are a landlord or a tenant. Several independent bodies are approved to provide this service of holding the deposit to safeguard both parties. Current legislation will not allow a landlord (or a landlord's agent) to hold a deposit belonging to the tenant directly. If a dispute arises at the end of tenancy, the deposit will be returned where it is deemed the tenant causes no attributable damage or loss. If damage has been caused by negligence or mistreatment of the property by the tenant, it could be that all or part of the deposit is returned.
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What is meant by full management of the property?This is where the property is managed by an agent in terms of dealing with tenants, rent collection, maintenance issues, property inspections, and day to day tasks involved with the property. This is usually based on a percentage of the rental fee.
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What is a TDP?A Tenancy Deposit Protection (TDP) scheme is where the tenant's deposit is held by a government approved third party such as the Deposit Protection Service (DPS). This was introduced in 2007 to ensure deposits were protected from disruptive landlords.
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How is maintenance of a property dealt with?Under full management scenarios, issues can arise from either the contact from a tenant, or as a result of a property inspection. In either case, the landlord will be contacted to determine what remedy or solution is to be actioned.
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I am looking to rent out my property, what should I do?Please contact me, and I will assist in providing the necessary arrangements or services required to ensure the property is suitable for rental. This will involve ensuring certain statutory requirements or obligations are in place before introduction of potential tenants.
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What happens if maintenance or repair works are required?I have access to a team of tradesmen and experts who can deal with all usual maintenance issues. This service can be accessed at the discretion of the landlord, as sometimes they may prefer to deal with certain issues themselves.
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What is meant by tenant introduction?Sometimes a landlord may prefer to manage the property themselves but may struggle to find a tenant. I can assist the landlord in securing a tenant after relevant reference and affordability checks have been completed. This is usually based on a one-off finders fee.
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What does a property inspection involve?The inspection will check and record the current condition and cleanliness of the property, whilst taking into consideration that the tenant is living in the property. It may also highlight any necessary maintenance or repairs that need to be addressed, and allows the landlord or agent to make sure the tenant is looking after the property and to offer any necessary advice.
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How much deposit should a tenant pay?It is usual to provide the equivalent of one months rent as a deposit. However, the maximum deposit by law is capped at equivalent to five weeks rent amount.
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How often are rent reviews undertaken?This will depend on the type of tenancy agreement in place. For a fixed-term tenancy (running for a set period) you can only increase the rent if your tenancy agreement permits this. Otherwise, you can only raise the rent when the fixed term ends. For a periodic tenancy (rolling on a week-by-week or month-by-month basis) you can usually only increase the rent once a year. It may be under agreement in writing with your landlord or by an official Landlord notice proposing a new rent form which provides a minimum of one months notice.
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What checks are carried out when you apply for a tenancy?Landlords and agents usually want to check that you can pay the rent. It is likely they will request proof of some, or all of the following: Employment contract or letter from your employer, recent payslips or bank statements, independent credit checks, proof of address, proof of identity, and right to rent certification. Further checks may be undertaken in certain circumstances.
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How often are property inspections undertaken?Some landlords carry out the first inspection after only one month, to satisfy themselves that all is well, and this can also help build on the landlord, tenant relationship. Following that, the frequency of the inspections should be no less than every three months, to avoid harassment.
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