Managing Rent Arrears
Today Letting Expert Karen English looks at how a letting agent should manage rent arrears
Firstly what is their arrears rate across their management portfolio?
Rent arrears are the pain of many landlords and the main reason many choose to go with an agent, no-one likes chasing rent arrears… or do they? If handled correctly, arrears handling is quite an art and can have amazing results.
Let’s consider what you are looking for. You will need someone who is focused on property management (not doing deals); they will need to understand the landlord’s needs for the rent to be paid and the pain he suffers when it is not.
The staff members need to be trained on communication skills, because with rent arrears, it is all about ‘continuous communication’. As an example at Hennings Moir with continuous communication, we are proud to maintain less than 2% arrears and a .004 eviction rate (at a time when the national average is 10% arrears and 2% eviction rate).
This can be achieved through understanding the process, being absolutely clear in our communication and also being persistent. It really does work!
So when considering an agent, find out more about them by asking what their arrears rate is across their portfolio, you may be surprised. It will show just how well the team work underneath the surface, or not as the case may be!
Karen English is the lettings manager at Hennings Moir estate agents. She has over 18 years experience in the Lettings Industry. Hennings Moir have been trading in the area for over 30 years.
Further information contact Karen English or Amy LLewellyn at Hennings moir on 01752 850440
Hennings Moir 136 fore st Saltash Pl1 6JR http://www.henningsmoir.com