Careful tenant selection delivers maximum letting performance
- 13th June 2019
- Landlord Property News
Buoyant employment rates and strong local demand boost total returns for London landlords
Following the introduction of the Tenant Fees Act this month, it’s now more important than ever to use a trusted estate agent with a strong referencing and compliance policy.
With referencing now being a supplementary levy to landlords, it is important to remember that ludlowthompson implements a number of referencing checks, with a comprehensive final report to ensure you find the best tenant for your property.
ludlowthompson delivers a transparent and observant letting service ensuring landlords meet the requirements of ‘Right to Rent’ and adhere with the requisite money laundering directive commonly known as AML further explained here. All these measures provide maximum trust and reassurance to landlords about the transactions they are involved with.
Careful tenant selection minimises the risk of rent arrears and helps improve total returns over the long term. Such is the quality of our tenant selection that our serious rent arrears rate is just 1% which is 45% less than the national rate**. We also underpin our offering with a £7,500 rental warranty for up to 6 months unpaid rent and up to £10,000 legal fees cover ***.
As the market evolves, the best tenants will be attracted to the best practice agents and ludlowthompson maintains a large prospective tenant database, which means maximum exposure for your property through open and accessible 24/7 on-line marketing combined with a strong high street presence.
London landlord returns have been boosted by buoyant employment rates and strong demand in the market. The UK unemployment rate, reflecting the ‘beating heart’ of the economy, stayed at near-record low levels of 3.8% in the three months to April as the jobs market shrugs off Brexit uncertainty. Furthermore, wages which traditionally trend with rental growth, increased by 3.1% in the three months to April 2019 ****.
Stephen Ludlow, Chairman of ludlowthompson, says: “As the Tenant Fees Act comes into force, our landlords have an estate agent with 25 years’ worth of experience on their side, to ensure they get the best expertise when looking for a tenant.”
“Using a fully regulated estate agent which goes the extra mile when checking potential tenants, reassures landlords that their investment will be hassle free and deliver stable returns.”
If you are looking for a buy-to-let investment in London or already have a property you wish to Let, speak to a local expert today by contacting your nearest office or start with an instant rental valuation by clicking here.
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Louis Wetz via Google Reviews:
Both Natalie and Alex were very helpful, polite and responded quickly to our questions. It was not hard to get hold of them over the phone, thanks for your help. Would definitely recommend.
Dorota Procter via Google Reviews:
Jacob was very friendly and helpful throughout my letting. I was a complete novice at being a landlord and he guided me very well. Built a good relationship and he will be on my Christmas card list!
*Right to Rent under immigration Act 2014 and Fifth Money Laundering Directive.
**Source: LSL Property Group tenant arrears tracker June 16
***Applies to full managed and rent collection services only
****ONS April 2019
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