The UK Private Rented Sector has grown rapidly over the last 20 or more years, fueled by changes to tenancy laws, buy-to-let mortgages and changing housing needs. But the Private Rented Sector faces a raft of challenges from increasing legislation, unique tax burdens and low media esteem. As in any industry, there are a small number of rogues whose actions impact adversely on the vast majority of good letting agents and landlords.
The UK Government has effectively devolved powers of regulation of landlords and agents to English local authorities. The Scottish and Welsh Governments have adopted national solutions to the issues surrounding the Private Rented Sector. In all cases it is local authorities who are expected to both police and work with letting agents.
At the same time agents and landlords feel that there are excessive regulatory burdens being placed on them. Furthermore, they feel that it is the ‘good’ agents and landlords that are being targeted by this increasing legislation whilst bad or ‘rogue’ agents and landlords escape without cost or penalty. This leads to friction between local authorities and agents/landlords.
The Private Rented Sector needs a platform where good agents and landlords can demonstrate to local authorities that they are professional, open and honest. At the same time local authorities need to be able to check statutory documents quickly and easily without tying their staff or agents and landlords up in unnecessary red-tape. If this can be done it frees the local authorities to be able to target bad agents and landlords.
This platform should also provide agents and landlords with the tools they need to run their businesses more efficiently and profitably.
The answer is Lets Process.
How Lets Process works for Letting Agents
Lets Process is a cloud based Professional Property Management System that enables letting agents to manage their properties wherever they are, 24 hours a day, 7 days a week. There is no software to download as everything is held on our secure servers and backed up. Lets Process use security standards that are more robust than those used by high street banks, ensuring that your data is protected at all times.
Using your computer, tablet or smart phone you simply create an account with Lets Process, specifying how many properties you want to upload. It’s simple to add more properties at any time or remove properties you no longer manage. Once your account is created you will be prompted to add details of those properties and upload information about these properties. You don’t have to upload everything at once, you can add information to your account at any time that suits you.
Each property has it’s own file in your Lets Process account. You can add the full property address, full property details and photos. Along with these details you are able to securely store all the essential information and compliance requirements of each tenancy including:
Not only does Lets Process store this information as you upload each document Lets Process automatically adds a date and time stamp. This could be produced in a court of law as evidence which could protect you and your business in the future. Although you can access each document whenever you wish no document can be altered. This feature means that it could be produced in a court of law with evidence of exactly when it was added to your account, a feature you cannot replicate with documents stored in a filing cabinet.
In addition, Lets Process has a diary system which will remind you by email of important dates such as tenancy renewal, gas safety certificates, inspection checks and so on. Lets Process will also automatically provide independent quotations for items such as gas safety certificates and insurance potentially saving you much more than the small annual cost of your Lets Process account.
Finally, all the mandatory compliance items such as EPCs, gas safety certificates and right to reside evidence are made available for checking by the local authority where the property is located. Whilst no commercially sensitive information can be viewed by the local authority they will be able to check that all your documents are in place and current, meaning that they do not need to take any of your time checking that you are complying with legislation. As well as saving you time this also means that the local authority can concentrate their efforts on targeting ‘rogue’ agents rather than wasting the time of good agents.
In summary, Lets Process provides you with the complete Professional Property Management System that will save you time and effort and in all likelihood save you money as well.
Lets Process is a free service for Landlords, Letting Agents and Local Authorities. We generate our revenue from the sales of nationally negotiated products and services. There is no obligation on any user of Lets Process to have to purchase any product or service, at any time, in order to benefit from Lets Process.