Rent Collection Management Service
Our Letting and Rent Collection service is the ideal management service for Landlords who wish to self-manage without the hassle of finding tenants and the month by month collection and processing of rent.
This is an ideal service for those landlords who do not want to get involved in the financial management of their tenants.
When letting a property, we understand that one of the most common concerns you’ll have is whether the tenant is going to stop paying rent during the tenancy. When using The Possibilities Lab LTD Management’s Rent Collection service, you will no longer have to worry about this. If the tenant does stop paying, we’ll chase them for all payments on your behalf.
Our Rent Collection Management Service Explained;
STEP 1/
An initial market valuation of your property
Our property managers have expert knowledge of the local area and are always ready to help you achieve the best possible rental value for your property.
On average, properties we manage achieve a rental income 10% higher than our competitors.
Why not complete this free rental valuation form now to find out how much we could achieve per month on your property?
STEP 2/
Property Marketing
To find the best tenants for your property, we will advertise your property both online and offline. We will advertise your property on Rightmove and Zoopla among other online portals. On top of this, we have hundreds of tenants come to us every week asking to be directly notified of new properties that match what they are looking for. We even pre-reference all tenants before allowing them to be added to our database. they are ready to go. Once we are instructed to find tenants for a property, we guarantee to have the property listing live within 48 hours. 97% of the time, we have listings live on all portals within 24 hours. We hate wasting time.
STEP 3/
Guided Viewings
After marketing your property, we will start right away with viewings.
We will conduct viewings during the day, in the evening and on the weekend.
On average, it takes us 11 days before we find the perfect tenant ready to move in.
STEP 4/
Tenant Referencing
Don’t worry. We always make sure all tenants have been referenced before they can move in. We even ask for a guarantor!
We wouldn’t place anyone in your property that we wouldn’t want in our own homes.
Our referencing process includes but is not limited to identity & fraud information, any court information, written verification of employment and income, full credit checks, previous letting references and affordability calculation.
STEP 5/
Tenancy Agreement
Once tenants have passed referencing and confirmed they want to move in, we begin writing up a contract between ourselves and the tenant.
All properties and tenants are different so instead of using a standard AST we personally write tenancy agreements which will best protect your property.
And of course, we have all agreements checked over by our legal representative before handing them over to tenants!
STEP 6/
Move-in monies
Once contracts have been signed, tenants must then pay the deposit (which will be equal to one months’ rent) and the first months’ rent before they can move in.
We will then register the deposit with mydeposits.co.uk within 5 days.
STEP 7/
Move-in day
Once all the above is completed, it is time for the tenant to move in.
We’ll meet the tenant at the property and do a basic schedule of inventory as well as our first property inspection with the tenant present.
We then hand over 2 sets of keys to the tenant!
STEP 8/
Rent Collection
Every month we will collect rent from the tenant on your behalf.
We promise to transfer the rent to you within 1 working day of it clearing our account. This means no more waiting around wondering when your property managers will pay you!
In the rare case, a tenant does not pay rent on time, we will chase the tenant on your behalf for payment.
STEP 9/
End of tenancy
3 months before the tenant’s tenancy agreement expires, we contact them asking for their future plans.
If they want to continue renting your property, we will review the rent with yourselves before signing new contracts with the tenant.
If they do not want to continue renting your property, we will begin the process again to find your property new tenants.
STEP 10/
Move-in day
Once all the above is completed, it is time for the tenant to move in.
We’ll meet the tenant at the property and do a basic schedule of inventory as well as our first property inspection with the tenant present.
We then hand over 2 sets of keys to the tenant!
Rent Collection
Services
Get your questions regarding our rent collection management service, answered here.
