Rent Collections

Just because agents are happy to assume that your direct debit will actually arrive every month, don’t expect all independent landlords to take that view – especially experienced ones. Many landlords live on the income from their units, they’re not all some distant investment portfolio but often produce our living. For a multitude of good reasons, many independents prefer the weekly/monthly direct contact with our tenants that rent collection brings.

Tenants often have relatively trivial issues they want to raise – like a dripping tap that’s keeping them awake every night that might not sound a serious fault in itself, but is causing real frustration. Other times tenants prefer discussing problems about a noisy neighbour with their landlord, sooner than banging on the ceiling.

For any number of reasons, rent collection is still remarkably common, popular and convenient. Many tenants prefer to be able to pay less, more often, too. Plus, not everyone wants to phone some call-centre miles away about a broken lock and hope someone shows to repair it.

Of course, you may hate the idea. Like all your other options, these are choices that you make as you work your way through our vast marketplace.

If It’s Often Cheaper, Is There A Downside?

Yup. Where disputes arise, you have to discuss these direct with your landlord – there’s no buffer. Of course, most tenancies don’t have disputes. There’s a difference between reporting a fault and chasing someone’s tail for a couple of days and all out warfare. Nevertheless, some tenants really are willing to pay a string of supplementary charges for the opportunity to arbitrate through a third party – even one who works for the landlord. Unfortunately, many landlords behave unreasonably just because they can make an agent do their dirty work. Being a letting agent is certainly profitable, but it isn’t always comfortable to play pig in the middle.

Many student landlords are models to us all. They know and like young people, enjoy the contact with them, understand their financial realities and their reluctance to dust until moving out day. Very few successful student landlords need agents. Huge numbers of landlords enjoy modest contact with their tenants. Many want to do a good job and take their responsibilities very seriously. These buildings are, after all, seriously expensive assets that must earn their keep. And no independent landlord wants to have empty buildings so they tend to look after their tenants – because that’s how they earn their money. However, beware the landlord who talks too much and listens too little when you first meet them. They won’t change.

But Isn’t An Agency Just More Competent?

I couldn’t possibly say – you tell me.

Property management with tenants in place requires co-operation between parties. You want to be safe and it’s the management’s responsibility to see that you are. I can’t imagine a single independent landlord handing over every key to their precious investment without retaining an emergency only spare. But don’t allow your landlord to wander willy nilly through your life just because they have a key. If they begin doing so, politely but firmly tell them that you have a right to 24 hours’ written notice when they need to come inside and that they need a reason to disturb your privacy. They may not like it – but they certainly can’t argue with it.

What Costs Can I Expect To Pay?

Taking on strangers to let them live (guaranteed for six months minimum) does require some background checks that the tenant is expected to pay for to validate their suitability. Expect charges for:

• References.
• Parental guarantor forms if required.
• Credit checks and bank and employer references. Agencies charge all kinds of fees. As these numbers begin to mount up, agents often throw in other ‘unexpected fees’, which can again amount to considerable sums of money.
• – Check-in costs.
• – Inventory fees.
• – Leasesigningfees.

 

On and on goes the list of charges that a tenant is expected to meet with a smile.

Buried in the small print can be a variety of other hidden goodies for agents. Watch out for things you’re signing up to pay for! Add them up. If you don’t want or can’t afford these, try finding a decent private landlord. There are thousands and thousands of them. And again, ask even the friendliest of landlords what up front fees there will be to move in.