Let’s be honest, the current situation with Covid – 19 has affected the property industry in a many different ways.
The property sales been booming due to short term tax reliefs.
It is what has saved many of the estate agencies during these challenging times.
The lettings and management situation is very different however.
Especially the HMO industry in London.
Just a few days ago I was reading a very detailed survey that stated that one of biggest landlord worries is compliance; it was second after the COVID- 19 effects on rental industry, and I really understand where this worry is coming from.The safety of our tenants is extremely important and the government fines for noncompliance are very generous.
Property business consists of two main components:
The property itself and the people to whom you are selling or renting it to, most often defined as your clients.Very often we hear the expression that property business is all about the people, well I would like to believe that it’s both, the property or the building itself, as well as the people living in it.
As property managers, we deal with both of these areas on daily basis and to make sure your business runs smoothly, you need to take care of both of these aspects – maintaining the building in a good order and cultivating productive relationships with your clients.
We hear this phrase many times over, especially in an entrepreneurial environment, but do we actually act on it?
Now days it seems that everyone has an opinion and advice on what everyone should or shouldn’t do whilst they re in the quarantine, so I thought I would share my thoughts on it.
As a landlord and property manager, I am sure that at some point, all of you have had to deal with messy tenants.
Receiving tenant complaints about dirty dishes, oily cooking worktops, dirty bathrooms full of hair and many other issues is not fun at all, especially when you are paying the housekeeper who cleans the property every week or two for it to be messy again the next day.
This situation can make you feel frustrated and upset as you expect, as grown adults, renting a room in a shared house, they would be more responsible and courteous to their housemates and themselves.
But what do you do? And how do you solve this common problem?
Management of HMO properties comes with endless lists and lists of serious responsibilities and regulations. The industry is so highly regulated that if anything goes wrong because of your error, you can end up in an imprisonment.
By nature I am a serious and collected person and running a serious business highlights this characteristic even more.
As a landlord or a manager of an HMO, it is your legal responsibility to regularly check fire safety and fire alarms and keep the record of all the checks.
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