Frequently Asked Questions
How do I change the management of my property over if it is currently being managed by another agent?
Simple! If you currently have a property managed by another agent and for any reason would like to change over to InvestRent, all you have to do is fill out our enquiry form and we will take care of the rest. If you choose to have us manage your investment property we will organise for your tenants to be notified and for the keys to be collected from your managing agent. Everything else carries on as usual. Changing your management agent couldn't be easier.
What happens if my tenant doesn't pay rent?
We have invested in technology, which allows us to monitor tenant arrears on a daily basis. After 4-7 days we contact tenants via telephone, email and SMS to follow up on payments. ON the 8th day of arrears (the legal minimum) a Notice to Remedy Breach will be issued to the tenant giving them 7 clear days to bring the rent up to date. If rent is still not paid within this time frame a Notice to Leave will be issued to the tenant giving them 7 days to vacate the property.
How do you determine the best rent for my property?
We always strive to get you the maximum rent possible, however, we also must keep in mind, setting the correct market rent to get your property rented as soon as possible.
To do this, we consider this;
- Demand: Is there currently a high or low demand for rental properties? This can be seasonal and affected by a number of factors.
- What is available now: We look at properties currently available for rent and consider their location and features for comparison to calculate a maximum rent for your property.
- What we have rented right now: We compare your property with what we have currently rented, taking into account property location and features.
These points allow us to give you enough information to set the right rent for your property.
Do I need Landlord's Insurance?
As with any insurance policy, it is not compulsory to have landlord insurance on hour property. However as property specialists, it is our recommendation that every investment property owner has a specific landlord insurance policy in place for their property.
Landlord insurance protects you in the event of a tenant not paying rent, departing the property early or damaging the property. It also includes public liability and limited cover for contents.
While there are many options, we suggest choosing very carefully. Be sure to look at how well a policy can cover unpaid rent, liability claims, damage to contents and extreme weather and most importantly have a look at the excess conditions.
How long will it take to find a tenant for my property?
This is a common question and unfortunately there is no one answer. What we can tell is that if a property that is better presented, more professionally marketed, priced according to market conditions and represented by a professional agent, it will be rented more quickly.
What happens when the Tenancy Agreement expires?
The Agreement continues with an agreement signed to extend the tenancy or each party will then be required to give the following notice period to terminate the Agreement:
- Tenant: 14 days
- Owner: 90 days