Boothroyd

Landlords Reap Rewards

23rd August 2010

When the property sales market began to encounter difficulties as recession hit in 2007, experienced Kenilworth agency Boothroyd and Co knew this would lead to a boom in the lettings market and immediately took steps to ensure their landlords would cash in.

For the last three and a half years Boothroyd and Co have been encouraging their landlords to upgrade their properties and keep the standard of accommodation really high. And it has paid off with quality tenants, good rental income, absence of arrears and minimal void periods when the property is empty.

“These days people aren’t looking for somewhere cheap to rent short term while they look around for something to buy – they’re looking for a home,” said Stephanie Burridge, who heads the dedicated lettings team at Boothroyd and Co.

“Times have changed. People are staying in rented accommodation many more years than they used to before taking on a mortgage. And they are fussy. They want a home they will be happy to live in longer term. Given the economic climate that is not likely to change and the landlords with well maintained properties command a premium rental, especially when demand outstrips supply, as it has been doing for some time.”

“We also find that offering superior property attracts the right calibre of tenant. We are very strict on procedures regarding arrears but there are times when circumstances such as bereavement, illness or redundancy affect a tenant’s ability to pay, and in such cases we adopt a sympathetic and pragmatic approach.

“Our landlords have the option to take out our rental guarantee, which covers loss of rent after the first 30 days and also court costs if a tenant should have to be evicted, but in cases of genuine hardship we always recommend the landlord releases the tenant from their agreement. This way they can find somewhere more affordable and we can move in a new tenant before arrears build up.

“We are very conscious that a large part of looking after our landlords’ investment is attracting the right tenants and keeping them happy. So while all the paperwork is watertight, sometimes it’s in the interest of both landlord and tenant to be flexible.”

Using the latest Vebra and CFP software means Boothroyd and Co manage properties in the most efficient way possible and their state of the art website makes it easy for prospective tenants to view properties available.

Landlords can choose let only or fully managed services, the latter removing all the day to day worries of looking after a property and tenants.

“Boothroyd and Co is an independent family-owned firm with traditional values complemented by modern technology. Our experience over the last few decades has enabled us to fine tune our services and predict trends, which is why we were able to steer our landlords in the right direction three and a half years ago,” said Stephanie.

“It has paid off for them and for us”.

If you have a property to let, call Boothroyd and Co on 01926 851451 for a free rental evaluation.