PlanetRent LANDLORDS: An app with audit trail to defeat most compensation claims
How to avoid tenant confrontation
Research by PlanetRent reveals that the number one gripe small landlords have with their rental properties is being given grief by tenants, who often have unrealistic expectations around repairs.
Any astute landlord knows that if they ignore a repair, more often than not the cost of fixing the problem is going to escalate. So it is rarely the avoidance of repairs that causes problems but the hassle of arranging everything - as well as the need to temper tenants’ expectations. Put simply, a landlord lets and a tenant rents a property (almost always) in good faith, on the understanding that each will behave responsibly: the tenant will protect the landlord’s property and in return, the landlord keeps things in working order. That said, things do break down, wear out, stop working, or need replacing.
A savvy landlord will have a service level agreement in place. He or she will ensure that this is pre-advised to tenants before they move in to help manage expectations should anything go awry. A rental property is not a hotel; there is rarely a 24-hour in-house maintenance engineer in post, and contractors will want to turn up on a weekday, during working hours. Tenants must be realistic and appreciate that this will be the case - they too have a part to play in getting things fixed. In our litigious culture, all too often the consumer will seek compensation for this or that. However, even the rail companies don’t pay out until a train is running late. A landlord service level agreement serves the same purpose.
How can PlanetRent help?
PlanetRent provides a service level agreement by way of target response times for the 45 most common rental repair issues as part of its tailor-made tenancy journey. This is shared with tenants via email when they move in, on their tenant portal and when they log a repair, it has a 'target date' set by the landlord. All of this is a way of managing tenant’s expectations as well as demonstrating that, as a landlord, one is acting reasonably while protecting the landlord’s position. Next week, we will look at PlanetRent’s fully-automated photo reporting repairs process, making all contact with contractors completely transparent for both landlord and tenant.
PlanetRent is brought to you by The Ringley Group which has more than 20 years of expertise in managing thousands of properties.
Planetrent Properties
Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
New and Exclusive: This term refers to a property that is either new on the market or a new instruction, exclusively available through a specific agent or portal.
New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.