Your Rent Paid On Time, Every Time
Every new landlord who meets the lettings team at Capital Estate Agents is always asked the same question: what their biggest concern is about becoming a landlord. They almost all say non-payment of rent or ‘arrears’. Landlords deserve an agent who will help them ensure the rent is paid in full and on time, every time.
Your Rent Paid On Time, Every Time
Every new landlord who meets the lettings team at Capital Estate Agents is always asked the same question: what their biggest concern is about becoming a landlord. They almost all say non-payment of rent or ‘arrears’. Landlords deserve an agent who will help them ensure the rent is paid in full and on time, every time. This is a key part of our obligations under the terms of a full management contract and one which we take very seriously at Capital.
Technology
At Capital Estate Agents, the software we use to run our operations ensures we have automated checks for rent being paid on time. When rent is overdue, our systems ensure follow up action is triggered at pre-determined intervals to chase arrears. These actions escalate as time proceeds.
Communications
Key to our low and manageable levels of arrears at Capital is communication. We build a relationship with our landlords and tenants from the first minute we come into contact, and that ensures good channels of communication exist between us. All parties therefore feel able to discuss issues that arise before they become a problem. If a tenant finds themselves with a change of circumstances that could affect their ability to pay the rent, we encourage our tenants to discuss this with us early so we can work with them to manage the situation. It may be that staggered payments are appropriate or that we need to engage with the council regarding benefits payments or take up payment from a guarantor.
Timely action
Because we have the tech to prompt us immediately of any overdue payments, this gives us the ability to act quickly, which can prevent arrears building up. Rest assured that action will be taken up to issuing a Section 21 if necessary, however, we do find that a polite reminder of rent that may have been forgotten, at an early stage, is often all that is needed.
Rent Guarantee
At Capital, we encourage our tenants to take out Rent Guarantee insurance. This is the simplest method of ensuring arrears will not be an issue as the insurance covers the non-payment of rent up until eviction plus the eviction costs themselves. It has a nil excess and £100,000 limit of indemnity. Capital Estate Agents offer all tenants Rent Guarantee Insurance through Goodlord when they sign their shorthold tenancy agreement.
For more information about how to best manage your rental property to maximise profitability, speak to our experienced lettings team at Capital Estate Agents on 0208 313 0010 or email us on: info@capitalestateagents.com