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Buying an investment – some of your frequent questions

 

What and where should I buy?

Its important to understand local patterns and trends, the sought after areas, good schools, employment centres and where long term demand for property is likely to be.  Generally speaking, modern property – with low levels of maintenance and the “mod cons” that meet the needs of your tenants – work best. 

Talk to your local Webbers office – we will be very pleased to give you advice on areas and realistic income projections for any property you are looking at.


 

 Do I have to supply furniture? 

In most cases, no.  The overwhelming demand is for unfurnished property and for this the expectation is that only carpets, curtains and a cooker will be supplied. 

People who rent unfurnished property are also more likely to stay longer, and because there are no appliances or items of furniture your potential repair and upkeep costs are reduced.


 

 Maximise its “letability”

Just like everyone, the expectations of your potential tenant will always rise.  What once was considered a “luxury” is now standard and that’s a social pattern that relates to everything from restaurant food to the cars we drive.

The simple rule is that better quality property will generate more interest.  It is not acceptable to have paper thin carpets and tired and worn décor.  Properties that don’t meet expectations will simply stand empty and be costly to its owner.  Modern kitchens and bathrooms, neutral décor and plain carpets are all essential. Property with ensuite facilities, good parking and high energy efficiency (meaning low utility bills) are those which will do particularly well. 


 

Everything lets quickly, surely?

Demand for good quality property remains high but our priority is to find you the most suitable tenant.  Effective and high quality marketing - whether that’s in newspapers, online or in our office windows - is essential to help generate the right interest in your property.   We also have an active database of people looking to rent, a growing presence on social media and work closely with our sales teams as clients who successful sell their property may choose to rent.


 

What rules should I be aware of?

As a landlord you have a duty of care to your tenant and will need to ensure that the property is safe. 

This will include checks to gas appliances, electrics, the water system, smoke and carbon monoxide alarms as well as a more general overview of safety which will include identifying any hazards and addressing any risk where harm is reasonably foreseeable.  There are also rules that govern shared accommodation, communal areas, appliances and soft furnishings.

When you ask us to carry out an appraisal on a property, we will be able to talk in depth about your obligations, and offer advice and assistance to ensure you comply.


 

Do I have to inform my mortgage company?

If you have a mortgage then you will need your lenders permission prior to letting the property.  This permission may need to be renewed periodically.  Failure to do so could find you in breach of your mortgage conditions. 


 

Do I have to accept pets?

Quite simply, no.  Although in some areas, particularly rural areas, a “pet considered” policy may be sensible.  But most properties will not accept pets, people who smoke (its prohibited within our tenancy agreement), sharers (groups of friends) or someone in receipt of benefits (this could be a breach of mortgage conditions)


 

Who deals with day to day maintenance?

If we manage the property on your behalf this is overseen by us. Your tenant will be able to report repairs direct to our maintenance department using the Fixflo software on our website.  In a busy world, this provides a convenient reporting system through their PC, tablet or smart phone.   We have a team of trusted, competitive and qualified contractors that are able to respond quickly and carry out repairs with minimal inconvenience to your tenant.  If necessary, we will obtain quotes and we pay the contractors on your behalf, deducting costs from the rent we collect for you.


 

What happens if there’s an emergency out of hours?

Effective property management doesn’t stop at 6.00pm when the office closes.  Luckily, out-of-hours emergencies are rare, but if something were to happen you can be reassured that your tenant will be able to call a dedicated number for assistance.


 

When do I receive my rent?

Rents are paid monthly, in advance and as soon as we receive cleared funds we will transfer monies to you through the BACS payment system. We will email you a statement each month together with any invoices for work for your accounts.

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