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Recent News

High Levels of Tenant Debt Will Effect Cashflow For Landlords

It is clear that residential landlords are going to need to get a tighter grip on rent collection practices given the al time high levels of tenant debt in the UK. The ability of tenants to ensure that they make rent payment a priority over the servicing of unsecure credit commitments will prove to be a challenge for many landlords with larger portfolios.
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NLA and NFRL To Merge

Two leading bodies representing UK landlords are to merge to become the largest organisation of its kind in the country, news that is likely to impact upon people with Buy to Let Mortgages.

Following months of negotiations, the National Landlords Association (NLA) and the National Federation of Residential Landlords (NFRL) will together represent 20,000 UK landlords after agreeing a deal that will see the formation of a larger NLA.

Barry Markham, chairman of the NFRL, stated that buy to let landlords are fortunate in the current climate as there are a number of "commercial opportunities" available, but that they must still be represented adequately.

"It remains critical that the NLA continues to lobby government and highlight the important role that landlords play in providing decent and affordable rental accommodation," he said.

According to the NLA, five of the UK''s largest lenders of Buy to Let Mortgages are special corporate members of the body. » Read More

Liverpool Rent Prices Dropping

While rent prices have been increasing across the UK, Liverpool and Nottingham have seen a drop in prices. In the past three months rental prices in Liverpool and Nottingham have dropped by 2%, compared with a 4% increase on average for the country as a whole.

The slump in rental prices is good news for some, such as the 50,000 strong university population at Liverpool’s three universities, who will be clamoring for cheap rental properties. However, for landlords and investors looking to re-mortgage, the fall in prices is disastrous.

The buy to let market in Liverpool boomed in previous years, with many amateur landlords jumping on the bandwagon, leading to an oversupply of rental accommodation which has prompted the drop in prices.

The buy to let market has now dropped off, with property and rental prices down, it is not such an attractive option. With less mortgage deals available, many are finding that they cannot secure a buy to let deal even at specialist brokers.

Investors who took part in investment clubs where properties were sold off plan with guaranteed rental incomes are finding that these guaranteed rental prices are now unrealistic and face trouble ahead.

On a brighter note, Hometrack, the housing intelligence firm which released the figures says that rental income should increase for the majority of investors over the next year.

 
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Expected Rent Collection Problems Date Looms Closer

As the date of April 7th, 2008 draws nearer, private landlords are anticipating increased rent collection problems as a result in the pending Housing Benefit changes that commence on this date. The changes to the Housing Benefit payment system will mean that new Housing Benefit claimants will have their rent payments deposited directly to them selves and not to their landlord as id mostly the case now. Rent collection issues are likely to cause problems for many landlords as a result.


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Low Cost Rent Collection & Solicitor Legal Protection

The Rent Management Service for landlords has been developed to make rent collection and tenant administration tasks more simple and much more economical in a time when cost reduction is of major importance for all residential landlords.

By utilising our landlords legal protection service and our bulk rent collection ability and payment processing efficiencies along with our ability to manage other administrative tasks such as tenant gas and electricity supply billing transfers, the Rent Management Service from Hutcheon Solicitors is changing the way private landlords manage their property portfolios in a Credit Crunch environment.

Our Gold, Silver and Bronze Service plans allow landlords to choose whichever level of management support and legal protection they feel is most relevant to their individual needs. Click below to learn more about our service plans:

Bronze Service - Click Here

Silver Service    - Click Here
Gold Service      - Click Here

A major benefit of the Rent Management Service is that it allows our landlord clients to gain greater control over their property investments without paying expensive letting agents fees for services that often do not include proper 'belt and braces' Solicitor protection from problem tenants.

The impact of the global credit crunch is making many switched on private landlords and business minded letting agents look at ways to reduce operating costs and our low cost rent collection and legal support service helps landlords and letting agents in their efforts to save money, maximise profits and legally protect themselves when dealing with tenancy issues.

Visit our Frequently Asked Questions Section - Click Here

Private Landlords Cut Costs And Save Money

Managing properties with private tenants can often be a time consuming and complicated task that needs ongoing management within a constantly changing environment. Between working hard to ensure that properties are let and dealing with tenant demands, rent arrears problems and housing legislation requirements, it can be too easy to lose focus on the fundamental importance of having an efficient rent collection system to ensure that rent income flows inward.

From £15 Per Tenancy Contract Per Month

This is where we come in. By outsourcing the entire rent collection, payment reporting, credit checking and problem tenant management process to our dedicated team you will be able to manage your time and energy more efficiently and focus on business and letting issues with greater clarity. We can even deal with time consuming utility supply issues that arise when tenancy contracts change.

Our low cost rent collection and management service can also include the undertaking of tenant credit checks and helping tenants deal with debt problems and rent arrears situations ethically to ensure that rent obligations are maintained whilst also offering tenants an ethical and sympathetic approach to managing genuine instances of financial difficulties as a responsible and modern private landlord.

Your dedicated personal account manager will liaise with you and your tenants, set up and manage the entire rent collection process centrally and help you to deal with problem tenants efficiently and professionally to ensure that rental incomes are maximised.

As we are a very experienced firm of legal litigators tenants respect our position as rent managers and problems are typically resolved very swiftly. Learn more about our low fee structure - Click Here

Why Put Up With High Letting Agent Fees?

The Rent Management Service is a dynamic and cost effective landlord and tenant support system that combines efficient rent collection and management reporting with direct access to landlord legal protection services to deal with any problem tenant issues, Section 8 and Section 21 Notifications and other formal proceedings as required.

The Rent Management and Collection Service from Hutcheon Solicitors will enable you to plan your property income better and grow your business with an increased profit focus knowing that we are collecting and managing your rental incomes whilst 'watching out for you' at all times.

We hold no bones about our views that letting agents and property managers have, in many cases, been overcharging private landlords for what constitutes a basic rent collection service for many years. Private landlords are now realising that letting agents monthly fees can be completely removed or dramatically reduced by handing over their rent collection requirements to the Rent Management Service.

Why dwindle your money away in expensive letting agency fees any longer? Contact our team today and we will start to increase your investment yields rapidly and without complication and demonstrate the real value for money that you deserve.

Rent Collection And Housing Benefit
Changes

From April 7th, 2008 the current status quo regarding Housing Benefit claims from tenants will change substantially. Rent collection and management for private landlords will undoubtedly become more difficult for those landlords that have tenants in receipt of Housing Benefit currently paid directly to landlords by local authorities.
Rent collection services will quickly become a better commercial proposition for private landlords in the face of increased rent collection problems brought about by the change in Housing Benefit Allowance and the need for landlords to have a tighter grip over the weekly rent collection challenges that the change in Housing Benefit legislation will bring about.

The Rent Collection and Management Service can help private landlords overcome rent collectionchallenges and retain a profitable and ethical approach to tenant management regarding individuals on low incomes.

About R. James Hutcheon Solicitors

Since its foundation R. James Hutcheon Solicitors has diversified from core litigation and personal injury client representation to developing new legal support services to consumer and corporate clients. Combining volume litigation experience spanning 20 years the practice has forged key partnerships with market leading consumer service providers to deliver cost efficient bulk payment processing services with legal protection support for our clients.

Outsourcing Rent Collection

With the challenges of ever changing market dynamics, the property letting environment has become more complex to service profitably. Therefore it is now more than ever critical to be commercially astute when seeking solutions to everyday core operational requirements such as rent collection and tenant management processing.

Because of our unique insight and experience of volume legal service markets and client money handling, R. James Hutcheon Solicitors is ahead of the curve in spearheading added value payment transaction processing and added value legal support services to traditional  markets such as residential property management.

R. James Hutcheon Solicitors serves clients on a national basis via its offices in Cheshire in the North West of England. Significant investments in information technology have increased the accessibility of the firm to new and existing clients via the internet and other new media environments.


To learn more about the Rent Management Service click here or feel free to chat with an advisor either online via our Live Help button or call the Rent Management Service directly on 0800 083 0626.


Contact The Rent Management Team
R.James Hutcheon Solicitors
The Heath Business & Technical Park
Runcorn
Cheshire
WA7 4QX