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Why use a property lettings agent?

Do you have a property that you need/want to rent out?

First of all ask yourself how much do you know about property lettings?

It is possible to let your property privately without the use of a property lettings agent, but using one like us has quite a few advantages. We will market your property for you and organise viewings, get references from your tenants and draw up a tenancy agreement for you. We will also manage the property and take care of any maintenance issues, dealing directly with the tenant on your behalf.

A very important task we handle is rent collection. According to The Tenant Arrears Tracker, published by LSL Property Services the number of tenants who are more than two months behind of their rent has risen dramatically in the first quarter of 2013 from 4,000 to 94, this represents an increase of nearly 5 per cent. We take the worry and stress out of this part of letting.

Did you know that your tenant’s deposit must be kept in a government-authorised tenancy deposit protection scheme. It is held there until the end of the tenancy when it should be returned, assuming the tenant has kept your property in good order. The idea is to protect tenants from unscrupulous landlords who withold it unreasonably.

WHAT WE DO AS YOUR PROPERTY LETTINGS AGENT

  • Advertise the house for rent
  • Show potential tenants round your property
  • Screen potential tenants
  • Collect rent and security deposits
  • Negotiate rental agreements and sign leases
  • Conduct periodic property inspections
  • Handle repair and maintance issues
  • File evictions, if necessary

Many people don’t want to handle all these extra responsibilities or simply don’t have the time. At Mistoria Estate Agents, your property lettings agent we will ensure that your property and tenants are well looked after.

For more information please see our LANDLORDS page.

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Why a house share is a great idea

Right now the number of people living in shared homes is increasing month on month, mainly because so many of us have been priced out of the market when it comes to buying a property, but there are both financial and personal reasons why people house share.

Why rent in a house share?

1) Moving Area

If your job or another reason is taking you to a new area, a house share can be a great short term solution before you get settled and find out where you want to live. Some people house share with this intention but it becomes long term accommodation. Also if you don’t know anyone in your new area a house share offers some instant friendships and companionship.

2) Leaving Home

Some people can’t wait to leave home and others are more nervous. With a house share you have the independence and responsibility of your own place, but also some house mates to have fun with.

3) Lonely

Some people love their own company, but for others it can be extremely lonely so choose to house share.

4) Cost

We’re all affected by the economy and House Shares are an extremely financially attractive living solution. At Mistoria Estate Agents we have house shares with fully inclusive rents. This means everything is included, right down to the linen on your beds. 

Living in a house share is usually much cheaper than renting your own place. You still have your own bedroom (which has a lock so plenty of privacy) but the bathroom, kitchen and living room are communal areas. Effectively by sharing you split the cost of these extra rooms. By sharing it’s often possible to live in a better property or in a better area than you could afford on your own.

 

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Letting Agents to be more upfront when it comes to cost

A new ruling by The Advertising Standards Authority (ASA) now means letting agents must now be much clearer about their fees for rental properties.

Certain estate agencies have been accused of hiding compulsory administration fees making it difficult for the consumer to really know what they were going to be charged for their rental properties.

The ASA have said that all prices now quoted must be transparent to ensure a much fairer system. Now when an agency is letting a property the monthly rent must be advertised alongside any extra admin fee to be paid including information about a property’s deposit, any rent to be paid in advance and also any contract fees involved. These changes are being made to protect all renters but especially vulnerable people such as first time renters and students from looking for a home.

With these new regulations in place consumers will now have all the information they need to compare prices and shop around, so that they can be confident when choosing a property. 

Guy Parker, Chief Executive of the Advertising Standards Authority, said:

“Hidden fees are not only unfair, they hit those who are struggling hardest. Our ruling today makes clear that Letting Agents need to get their houses in order and treat potential tenants fairly.

Renting a property is a significant commitment. And for those who are new to the rental market, like students, navigating it can be particularly difficult. That’s why the ASA is clamping down on Letting Agents who hide fees. Today’s ruling makes clear that agents must include all compulsory fees and charges in their quoted prices. If the fees cannot be calculated in advance then the agent must make clear that fees have been excluded, and provide enough information for consumers to establish how fees are calculated. It’s now our priority to make sure agents across the sector bring their advertising into line.”