ATTN Landlords: Why renewal fees matter
Landlords; we are here to help you, to help your property succeed, but above all, to ensure your most valuable asset reaches its full potential. This is why renewal fees matter. They help us help you.
Many don't see the point in renewal fees, as they see this as less money in your pocket and more in your agents. But we are here to tell you that this isn’t the case. Renewal fees exist to ensure your property is seen, to ensure it is attainable but to also ensure that at the end of the day there is in fact, more money in your pocket.
There is no denying that a renewal fee matters to the sustenance of our office. The fees allow us to continue to do what we do best: manage the flow of your property. Without these fees we would not be able to continue to have access to the markets most accessible online portals. Other forms of advertising that we do would not be fathomable. We would not be able to invest in the latest technology that allows us to be more efficient and reliable than we have ever been before. We would not be able allow our team to grow, and the training they would receive would not go above and beyond the standard that we expect. It is without this kind of support that we would not be able to make your property matter; to us, to the market and to you.
Whilst the benefits of a renewal fee are great to our office, they will in effect benefit you more. If you have read through the PropertyTime terms of business you would have seen that it states the renewal fee is payable regardless of any renewal work that we do. The fee covers the continuation of our service which is providing a tenancy for your property. However, the service we provide to you is much more than this. We ensure that if your property needs to be remarketed that it is done at the earliest opportunity, which should help prevent any costly void periods. It also allows us to time to negotiate rent increases with your tenants and more importantly it ties the tenancy over smoothly. Our processes also exist to provide you with better protection, so that if for any reason a landlord had to go to court with a tenant, they would have up to date memorandums and more importantly section notices in place. The memorandums also protect as landlord as they ensure that both the landlord and tenants have to serve two months’, and only on a rent due date. Whereas with periodic tenancies the landlord must serve months’ notice and the tenants only have to serve one months’ at any point.
We believe so much in the importance of renewals that we now have Charlotte Wilkins dedicated only to this department, to ensure that it is carried out most efficiently and to the best of our knowledge.
So you now see that the fee is not just something to get the office by, it is a fee that ensures the progress and sustainability of your property. We know that our work matters to you and know that you matter to us.
If you have any further questions regarding our renewal fees or would just like some guidance, please contact our office and speak to either Charlotte or Ken who will be able to steer you in the right direction.