Help to Let

first_imgBy having dedicated people working across various in-house departments, potentially including inventory clerks, receptionists, property management agents, among a host of other key service providers designed to support your lettings business, your company’s reliance on outsourcing work is likely to be kept to a minimum.But for many letting agencies, particularly smaller companies, having access to reliable firms to which they confidently outsource work is growing increasingly more important, in light of the rapidly expanding private rental sector, which now comprises around 16.5 per cent of all households, or nearly 3.8 million homes in England alone.“As a small firm, we outsource quite a lot, whereas bigger businesses might carry out those functions in-house,” said James Wyatt, Partner of Surrey prime estate agent Barton Wyatt.PR, website design, graphic design, search engine optimisation, photography, floorplans, energy performance certification, inventories, these are just some of the things that Barton Wyatt outsource.“These are all functions of the business that we, potentially, could do ourselves – indeed have done in the past,” Wyatt added. “But we choose not to as we can outsource at a reasonable cost to others who have vastly superior expertise in their field.“In the case of inventories, for example, using an independent inventory clerk keeps any conflict of interest out of our business which is occasionally a real plus.“InventoriesCheck-in and check-out inventories and, occasionally, photographic evidence, are necessary to help protect landlords and agents when it comes to letting property, and with independent service providers charging from around £60, they are also cost-effective.“Outsourcing can be a useful tool not only for keeping costs down for landlord and tenant, but also for making a letting agent’s offering more efficient,” said George Spencer of Rentify. “When it comes to inventories, for legal reasons, it’s important to use a third party who is impartial, in case of any dispute.”Without evidence of the state of the property before and after a tenancy, in the form of an independently compiled detailed inventory, any subsequent disputes that arise at the end of a tenancy will be hard to resolve fairly, making it more difficult for a landlord to dispute the condition of a property with a tenant.If there is no impartial schedule of condition at the start of the tenancy, it is difficult to make a comparison at the end.Without an inventory showing that a property has been damaged by the tenant, the landlord or letting agent will struggle to make a successful application to the tenancy deposit protection (TDP) scheme holding the tenant’s deposit to deduct money from the tenant to repair or replace the damaged goods, illustrating the significance of property inventories.“In the case of inventories, for example, using an independent inventory clerk keeps any conflict of interest out of our business.” James Wyatt – Barton WyattIndependently produced inventories can also help to “protect the reputation” of both letting and management agents, according to Adrian Kelly, Director of LetCheck Inventories.“Being an independent third party, the reports we produce minimises the conflict of interest between our fee paying landlord clients and the duty of care that they have for their tenant,” he said. “If a landlord wants to claim for any part of the [tenancy] deposit, they have to prove what condition the property was in at the beginning of the tenancy. Without a professional inventory, the adjudicator’s hands are tied.”Property managementWhile very few letting professionals would dispute the importance of inventory providers, some agents do not believe that all services should be outsourced, particularly property management.   May 23, 2014The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Help to Let previous nextHelp to LetProperty Drum23rd May 20140570 Viewslast_img

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