News Archive for May 2023

The ever changing lettings industry...

The lettings industry is constantly evolving, shaped by societal changes, technological advancements, and shifting tenant preferences. For landlords, it's crucial to stay updated with the latest trends to make informed decisions and maximise the potential of their rental properties. In this blog post, we'll explore some of the current trends in the letting industry that landlords should be aware of.

Written by: First 4 Lettings

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Tenant demand now at all-time high

In the dynamic world of real estate, tenant demand plays a vital role in shaping the market landscape. The demand for rental properties is influenced by various factors, including economic conditions, demographic trends, and lifestyle preferences. Recent research indicates that tenant demand has reached an all-time high, presenting both challenges and opportunities for landlords and property investors. In this blog post, we will explore the reasons behind this surge in demand, its implications for the rental market, and how stakeholders can leverage this trend.

Written by: First 4 Lettings

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What are the benefits of letting a property in Leicester?

Letting a property in Leicester can offer several benefits. Here are some potential advantages:

Written by: First 4 Lettings

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Fees

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PERMITTED PAYMENTS

As well as paying the rent, you may also be required to make the following permitted payments:

1) Holding Deposit: Up to one week’s rental

2) Deposit: One month’s rental (5 weeks rental dependent on individual’s circumstances)

3) Payments for utilities (gas, electricity & water), communication services (telephone & broadband), Installation/Subscription of cable/satellite, TV licence and council tax

4) Default Fee (late payment of rent): If full Rent is not paid within 14 days or more of the Rent Due Date there will be a charge 3% plus the Bank of England base interest rate of the full rental amount until full payment is received

5) Default Fee (breach of tenancy agreement, any other permitted payments, under relevant legislation including contractual damages): For any breach of the tenancy agreement based on the reasonably incurred costs of the agent or landlord

6) Replacement of keys, fobs or other security devices

7) Default Fee (changes to the tenancy): An administrative charge of £50.00 or greater for any assignment, variation or novation of the tenancy agreement made at the tenant’s request (only if agreed by The Landlord and/or The Landlord’s Agent)

8) Payments in respect of early termination of a tenancy agreement at the tenant’s request


TENANT PROTECTION

First 4 Lettings is a member of Client Money Protect which is a client money protection scheme, and also a member of PRS (Property Redress Scheme), which is a redress scheme.