The rent is the fuel
which powers the letting business. It pays the mortgage and creates profit for landlords, but any
delays in collecting
the rent and pretty soon the wheels could well and truly fall off. So,
every landlord needs to do everything they can to ensure the rent cheque lands safely
in their bank account like clockwork every month.
Being a DIY landlord can sometimes be easier
said than done. Luckily, you do have options. And help is at hand. Here at MakeUrMove, we provide several services
to landlords to help ensure the smooth flow of rent. But how can we help you
with your rent collection process?
This may sound rather self-explanatory. Rent collection means MakeUrMove will collect the rent
from your tenant for you, including arrears chasing. This allows
you to be completely hands-off. This is especially useful if you have more than
one property to manage, are living in another area or have a second career.
Whatever the reason delegating rent collection to MakeUrMove saves you time and
streamlines your business.
MakeUrMove have collected over £10million in rent for our
landlords and we have an industry-leading arrears rate of less than 1%. Our
expert collection team is based here in Manchester. They are highly experienced
in dealing with tenants and the amazing arrears rate of 0.9% compared to an
average of 9% is a testimony to how efficient they are.
When your tenant pays the rent, we send an instant
notification to you. We then send you the payment within three working days. If
for any reason your tenant falls into arrears we will take all the action
needed to manage those arrears and get the tenant's payments back on track.
To take advantage of our rent collection service you should
subscribe to the MakeUrMove Good Landlord package. This service requires a
year's commitment but costs just £20 per month. And as an added benefit it also
includes legal eviction assistance. But we'll also market your property, as
well as referencing your tenants and helping with tenancy documents.
Given the importance of the rent, it's always nice to have
some safeguards in place. Ideally, the rent will arrive on schedule and in
full, which is usually the case. However, despite the best efforts of
all involved, a tenant can sometimes miss payments and slide into arrears.
MakeUrMove's Rent Protection package provides additional
peace of mind should your tenant falls into rent arrears. With the Rent Protection package, you can receive all the benefits included in the
Good Landlord package, and get rent
protection on top of it. The addition of rent protection costs only an extra £10 a month.
What is rent protection?
Rent protection is not the same as rent guarantee insurance. With rent protection, the landlord will need to make a claim to us once the tenant has met a fixed minimum for the amount of rent they have in arrears (usually at least 1 month in arrears). Once the tenant has met this fixed minimum, the landlord can file a claim to recoup the lost income.
If you are looking for more than just rent protection and basic management services, you can have complete peace of mind with our full property management service. Our full property management package costs just £65 per month, which also includes rent protection. The only condition for rent protection is that the tenant has passed our referencing process, which all our property management services include.
The full service is ideal for those DIY landlords who want to outsource the daily management tasks. Our full property management service also includes:
- Advertising Property
- Compliance Checks
- Tenancy Documents
- Utility Notifications
- Legal Eviction Assistance
- Rent Protection
- Maintenance Management
- Safety Reminders
- Regular Inspections
Rent Guarantee Insurance
Rent guarantee insurance is an insurance cover, which allows you to receive the full rent on time every month should your tenants be unable to pay their rent - regardless of whether the tenants have paid or not.
If you're a DIY landlord who depends on the monthly rental income to pay the mortgage on your buy-to-let property, or you rely on these payments from tenants as your only source of income, this type of guarantee insurance can be particularly useful.
Want to learn more about MakeUrMove services? Check out all our DIY landlord property management services