11 Terms of tenancy A fixed term lease provides landlords and tenants with the most security and helps to ensure that rent payment commitments are met. We work closely with investors to ensure strategic consideration is given to when a term ends; assessing the local market demographic and trends and taking care to avoid slow rental periods that could potentially increase the days on market for your property. Setting and reviewing rent Property investment can be very price sensitive and a small difference can affect the number of enquiries a property receives. We work closely with our investors to identify their goals in the immediate and long term because we know the importance of getting this right from the start. We conduct thorough market analysis to help us understand the current market rate of similar properties in the local area and assess each property to understand its value and potential. If a stable rental yield is the goal, then a slightly lower rent might give the peace of mind of a secure tenancy long term. However, we strive to communicate with all our investors openly and honestly whether our recommendation is to increase, decrease or maintain their rent. We have our investor’s best interest at heart and will always provide the very best advice when it comes to the future of their tenancy. By maintaining a strong knowledge of the market and performing regular market analysis, we can help investors ensure the rental rate remains competitive but fair. The end of tenancy When we receive notification that a tenant wishes to vacate a property we will confirm all details in writing for our landlords, and outline for you the next steps to ensure the property is tenanted as quickly as possible. Properties will be listed as available for rent immediately unless you advise us otherwise. We will also take care of all the necessary end of tenancy documentation and will collaborate with existing tenants when scheduling property viewings if needed. A vacating or ‘final inspection’ will be carried out to ensure your property has been left in good condition. We will be inspecting the property for any damages and identify areas that are deemed fair wear and tear for which a tenant cannot be held liable. Once the tenants vacate and the final inspection has been completed we will ensure that the bond refund is processed promptly and any final deductions for outstanding rent, utilities or damage are recovered for you.
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