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@ThePlace | Manchester Estate Agents

The Importance of Manchester Tenant Screening

placelogofinalwebsite
@ThePlace | Manchester Estate Agents

The Importance of Manchester Tenant Screening

Introduction

As a landlord in Manchester, ensuring the right tenants occupy your investment properties is crucial for maintaining a successful and profitable rental business. Tenant screening plays a vital role in this process, helping you identify reliable and responsible individuals who will respect your property and fulfill their rental obligations. At At The Place, one of the trusted Manchester estate agents, we prioritize thorough tenant screening to safeguard our landlord clients' investments. In this guide, we will explore the importance of tenant screening and how we employ comprehensive checks to ensure peace of mind for landlords.

Why Tenant Screening Matters

Tenant screening is a critical step that helps landlords assess the suitability of prospective tenants. It involves evaluating their financial stability, rental history, and overall reliability. By conducting thorough tenant screening, landlords can reduce the risk of potential issues such as rental arrears, property damage, or eviction. It is an essential risk mitigation strategy that ensures a smooth and hassle-free rental experience for both landlords and tenants.

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At The Place: Committed to Comprehensive Tenant Screening

At At The Place, we understand the significance of tenant screening in protecting our landlords' investments. Our dedicated team of professionals follows a meticulous screening process. This process identifies trustworthy tenants who will treat your property with care and pay their rent on time. Here's an overview of the key components of our tenant screening process:

  1. Credit Checks: We conduct thorough credit checks on potential tenants to assess their financial stability. By reviewing their credit history, we gain insights into their payment behaviour, outstanding debts, and overall creditworthiness. This step helps identify any red flags that may indicate a potential risk.

According to a report from Experian, a leading credit reporting agency, "Credit checks can provide valuable insights into a tenant's financial responsibility. Thus helping landlords make informed decisions."

  1. Affordability Checks: Determining whether a tenant can afford the rent is crucial for maintaining a sustainable tenancy. At At The Place, one of the trusted Manchester estate agents, we assess prospective tenants' income and financial obligations. This ensures they meet the affordability criteria set by our landlords. This step helps minimise the risk of rental arrears and financial strain on both parties.
  2. CCJ and Adverse Credit Checks: We conduct comprehensive checks for County Court Judgments (CCJs) and adverse credit history. This process helps identify any legal judgments or previous credit issues that could indicate potential financial instability or a history of non-payment. By scrutinizing this information, we aim to protect our landlords from potential risks.

"The inclusion of CCJ and adverse credit checks in the tenant screening process helps landlords make more informed decisions about their tenants' financial reliability." States a report by Let Alliance, a specialist insurance provider.

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Full-Service Lettings Management at At The Place. In addition to our commitment to thorough tenant screening, At The Place offers comprehensive lettings management services to Manchester landlords. Our full-service approach covers everything. This includes marketing your property and conducting viewings to handling legal paperwork, rent collection, and property maintenance.

By entrusting your property to one of the trusted Manchester estate agents like us, you can focus on other aspects of your investment while we take care of the day-to-day management, including tenant screening, to ensure a smooth and hassle-free tenancy.

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Conclusion

Tenant screening is a crucial step in the rental process that can significantly impact a landlord's investment. By conducting thorough credit checks, affordability assessments, and CCJ and adverse credit checks, At The Place, one of the trusted Manchester estate agents, prioritises the protection of our landlord clients' properties in Manchester. Our commitment to comprehensive tenant screening, combined with our full-service lettings management, allows landlords to have peace of mind and confidence in their rental ventures. Contact us at At The Place

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ESTATE AGENTS NEAR ME

FAQ'S

How much are estate agent fees?

How much are estate agents near me fees?

Typically, estate agents fees can reach heights of 3.6% of the sale price and can fluctuate based on the number of agents attempting to sell your property and the quality of your initial negotiations. In the year 2022, the average fee for an estate agent stood at 1.42%. Therefore, if your property was sold for a price of £275,000, the agent's share would be £3,900. It is worth noting that @ThePlace fees are considerably cheaper than these.

Should you use more than one estate agent?

Should you use more than one estate agent?

It's typically practical to engage two estate agents near me under a joint sole agency agreement for selling a single property only if you intend to hire a nationally operating specialist agent alongside a local generalist. For instance, you might prefer a national agent specialising in high-end properties, in addition to a local agent familiar with your area. Joint agency agreements often carry higher charges, usually around 2.4% including VAT. Engaging two local agents under a joint sole agreement usually doesn't make much sense, as their market coverage will overlap, and they won't be motivated to outdo each other to close the deal. Employing two estate agents also carries the risk of one agent attempting to benefit from the efforts of the other without contributing equally.

Do I have to pay estate agent fees if I decide not to sell?

Do I have to pay estate agents near me fees if I decide not to sell?

If you decide to pull out of a sale, it's customary to face charges to cover the expenses an agent has already incurred, like advertising. Also, it's standard to pay part or all of the estate agent's commission, but only if your signed contract includes a "ready, willing and able purchaser" clause. Essentially, this clause signifies that you're obligated to pay the agent for their work in identifying a potential buyer, even if unforeseen circumstances cause you to back out of the sale.

What is the best way to sell a house UK?

What is the best way to sell a house UK?

To maximise the sale price of your property, it's recommended to collaborate with a reputable local estate agents near me. Local estate agents are well-versed in the specific characteristics and trends of your area's property market. They have in-depth knowledge about the neighbourhood, understanding what attracts buyers and can accordingly highlight these features in their marketing efforts.

A good local estate agents also has a strong network of potential buyers, which can expedite the sale process. They can provide professional advice on the right pricing strategy based on comparable sales in your area and current market conditions. Additionally, their negotiation skills and expertise can help secure the highest possible price for your property.

Are estate agents regulated?

Are estate agents regulated?

The primary regulation of estate agents is dictated by the Estate Agents Act 1979 (EAA) and the Consumer Protection from Unfair Trading Regulations 2008. Beyond this statutory regulation, since October 1, 2008, all UK-based estate agents involved in residential estate agency work must be part of an approved redress scheme. They can choose either The Property Ombudsman or the Property Redress Scheme, a requirement put forth by the Consumers, Estate Agents and Redress Act 2007.

Will estate agents lie about offers?

Will estate agents lie about offers?

As part of the regulations associated with an ombudsman, estate agents are strictly prohibited from fabricating or concocting details about any existing or non-existing offer. Additionally, it is mandatory for estate agents to promptly communicate offers to the property sellers, and this must be done in writing.

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