Real Estate Law Title

Who uses a tenant search?

Tenant searches are conducted by responsible landlords and letting agents in order to protect their property investment from rogue tenants. A tenant search is used to check out a potential tenant credentials - from their financial history to previous landlord and employer references. The information gathered will paint a clearer picture as to whether you would like to rent your property to a particular individual or not.

Why conduct a tenant search?

Conducting tenant searches will enable you as a letting agent or landlord to make an informed decision about renting your property to the right candidate. It will protect you against complications in the future. A tenants search will look at an individuals financial history including information on CCJs (County Court Judgements) which will tell you if a tenant has any outstanding payments or debt that they are being taken to court for. If that is the case then this tenant may be unreliable with money and it might be best to avoid them. On the other hand a tenant search can act as a guide for further insurance. If a tenant had a bad credit history then you can ask for a guarantor to take responsibility for the tenancy agreement, protecting you against any defaulted rent, as the guarantor would have to pay it in that circumstance. It gives you the options and freedom to make the right choices on a tenant’s suitability for your property.

How much do they cost?

Costs vary for tenant searches and so do the methods, from faxing, phone calls and online applications. Some take days and others take a matter of seconds. Online tenant searching is an easy, cost effective and quick method to get results fast. Everything is done through an online system and some even offer free tenant referencing as well. Most good online providers will let you download a form for your tenant to fill out so you have all the details to run the credit check - the best online services will allow a tenant to fill out their details online themselves so you don’t have to do very much at all but run the check and collect quick and simple online tenant references from employer and previous landlords. Both Letting Agents and Landlords should conduct a comprehensive tenant search, most good services will allow you to either pay-as-you-go or buy in bulk to get a cheaper rate.

Home Information Packs (HIPs) have been a feature of the residential property market for over two years now but few people involved in the property sector would have raised much of a cheer for that particular anniversary.

Since their inception HIPs have not fared particularly well. It appears that there is no incentive for Estate Agents to put Packs in front of potential buyers and buyers themselves in the main are not asking for them. A lot of this is may be to do with negative media coverage, consumers are therefore not seeing them and so cannot make better informed decisions.

It is a similar story as regards the Energy Performance Certificate again the problem is that if consumers are not seeing the contents of the Pack then they are highly unlikely to action the Certificate’s recommendations.

The reaction of most of us engaged in conveyancing has largely been one of indifference if not hostility. The Home Condition Report seemed a good idea but when it was dropped, the remaining HIP was not really going to progress the transaction at all or give purchasers any real information. There are of course some Conveyancing Searches with the Pack but even now these are often out of date by the time Solicitors are instructed.

It remains to be seen whether HIPs have a long term future in the property market.

Last year the Office of Fair Trading launched a comprehensive study into home buying and selling. The aim is to establish whether consumers receive a good service and that the market is competitive innovative and well functioning. It remains to be seen whether the study will have any significant impact on HIPs.

A greater shadow over the Packs is the Conservatives stance. The Shadow Housing Minister has consistently said the party will scrap HIPs if they come to power.

We are probably all aware that over recent months there has been increased activity in the housing market but if HIPs are considered to have stood in the way of this revival one can expect many more calls for their withdrawal.

An experienced Solicitor will ensure that all clients make the most of the information available when purchasing (or selling) their home, therefore you benefit from making informed decisions.

Property management has proved to be a lucrative and interesting option over the years making more and more people opt for this business. Many people have spare property or home which they prefer to lease out sell in order to make profit from the property. In fact it is a wise decision to make use of the property as keeping it empty can lead to many problems. But becoming a landlord is no easy job. In order to prosper in this business it is imperative to follow certain factors one of which is legislation overview. Legislation overview is a very important legal affair which should be dealt by the landlords to avoid falling in trouble in the future.

Why is Legislation overview important?

Many landlords fail to take care of the factors associated with the land letting business and thus their inability leads to improper property management. Legislation overview is equally important for both landlords and tenants as legal affairs if neglected can land people in great trouble.

Often landlords are seen to evade the legal matters because they fail to understand the intricacies of legal matters. In such a situation, it would be a wise decision to handover the responsibilities to letting management consultants in order to take the best care of legislative overview and to avoid any undesirable condition. These companies are experienced in legal affairs hence can be helpful to both landlords and tenants.

Know about Legislative overview

If you have decided to take the aid of property management companies to help you in legislative overview, be sure of the fact that you have chosen the right company.

Legislative overview and other legal matters should be dealt with care so don’t choose a company without prior research. Internet can be of great help in this regard for it. Here you will be able to find out the names and other details of the companies involved in this type of matter. It would be easier for you to locate firms at your own locality too.

When you are with these companies, you can be rest assured of having the best legal support, as these companies usually hire experts who are capable enough to provide you personalized and customized service based your specific condition.

To avail the facility of the legal aid of the letting agents you need to pay a fee stated by them.

Why Do You Need of the Help of the Letting agents?

The laws concerning property and house acts keep changing from time to time. It is not possible for every person to keep regular track of these changing laws, hence the need of the letting agents.

The letting agents help you to avoid botheration of dealing with legal matters as they are experienced enough to deal with these stuffs. The letting agents can help the tenants and the landlords specially, the latter in more than one way. This is the reason why more and more landlords are resorting to the help of the letting agents.