Landlords in Belfast - Do You Need Tenants?
Today we are asking a very basic two-part question to which the answers are of the simple yea or nay variety.
Don’t confuse it with the recent in-or-out EU referendum because this time there is no confusion. The question is this: (a) are you a landlord in Belfast and (b) if so, do you need tenants?
If your answers to both are ‘yes’, read on. This could be of considerable worth to you.
Interest in renting in Belfast has never been greater. The high levels of deposits required - in harness with the huge numbers now employed in minimum-wage jobs – have combined to rule many out of the home-ownership market. Both now and for the foreseeable future.
So what are they to do?
Well, although they cannot buy at this stage, nevertheless they need somewhere to live. And that is where landlords come into play. They have what is needed by would-be tenants, namely properties to let. But if those would-be tenants are unaware of what is available, both they and the landlords are missing out. That suggests there has to be a matchmaker.
Landlords vary greatly. Some have a single property to let – possibly a home bequeathed to them via the will of a now-deceased relative. Others – of a much more professional nature – own a number of rental properties from which they generate or supplement their income. When it comes to the numbers and range of flats, apartments, houses and bungalows they are the Belfast rental market’s big hitters.
But even they need help if they are to reach their potential residents. Why? Because it is a fact that whatever the status of the landlord, he, she or they undoubtedly benefit from the expertise of an estate agent who knows the market inside out, is fully aware of current rental values, excels in reaching the biggest, broadest-possible audience, is wholly conversant with all forms of national and international, 24-hour, modern-day marketing technology and, as a result, is in a position to maximise social media’s ability to advertise the availability of rental properties in Belfast.
Both the landlord and the tenant are dependent on an estate agent capable of bringing them together and then providing the cement by which their union is bound.
Just as landlords have wants, needs and demands in any transaction, so too do tenants. That being the case the role of the estate agent is to unite them so that they are able to satisfy one another’s requirements.
A good landlord and a good tenant operating via a good estate agent will result in an everyone-a-winner triumvirate. No losers, then. That is the perfect outcome and, every time, that is Aria’s goal.
Aria have the experience and the know-how that yields just such results. They know what tenants and landlords alike want from a rental transaction. They also know that the wrong pairings cannot work.
They put attention to detail at the top of their list of priorities. Before accepting a client on whose behalf they would be happy to work, Aria will make that landlord fully aware of all of his or her responsibilities under the law. They will also offer advice to ensure a property always is marketed in the best possible light and condition.
Likewise, tenants too are informed of what is required of them when it comes to the payment of rent on time, care of the property and responsible behaviour towards it.
In ‘marrying’ prospective tenants and landlords, always it comes down to finding the right partners. No point in trying to match party-loving 20-year-olds with elderly property-owners who had been hoping for altogether quieter residents. Clearly that is not going to work.
The first step in the rental process is taken when a landlord enlists with Aria. The second comes when a potential tenant expresses interest in that landlord’s property, one of many in the extensive Aria portfolio. That would-be tenant is shown that house, flat or apartment first-hand. If they like what they see the process proceeds.
Any work that needs to be done to the property will be agreed, undertaken and completed by the landlord before the tenant moves in.
That way, all parties concerned in the transaction will be aware of – and will have signed up to - the condition of the property when the tenancy began. It’s a simple procedure which guarantees agreement on and acceptance of the facts by everyone involved.
Rent prices in Belfast vary greatly, of course. Aria’s landlords’ monthly charges range from £400 to £2,000, confirming the scope of what is on offer and the nature and location of those properties.
Similarly the nature of tenants’ wants and means vary greatly, too. The period for which they wish to rent may be as short as a few days. Alternatively, they may hope to sign up for many months.
And the tenants themselves are no less varied. Some are young professionals. Others are traditional mum-dad-and-2.4 kids-family units. Some are single-parents. Some are people on benefits. On other occasions those seeking accommodation are corporate entities.
In other words, all sorts of people from a vast range of situations are to be found among those hoping to find suitable, desirable, value-for-money rental property in Belfast.
Aria’s attention to detail sees their landlords being advised on how to maximise their property’s potential. They offer advice of how and where value can be added. By virtue of knowing the market as well as they do, Aria advise on viable rent. This is based on their knowledge of what is being paid for comparable property in the same location.
The decorative state of the property – inside and out – is another consideration. Aria will not hesitate to suggest changing a carpet, applying a neutral-colour coat of paint to make a room more acceptable, power-washing a patio or ensuring that the garage is cleared out. Such things can be the difference between a tenant accepting or rejecting the chance to rent that property.
Aria do not charge for that advice.
In addition, they can call on skilled workers capable of doing such jobs. A room painted, a lawn trimmed, a hedge cut, an electrical appliance repaired and restored? No problem. It’s all part of the Aria service.
As well as costing very little, such improvements play a huge – and always profitable - part in helping to clinch a deal. A quick, general make-over, a clean look, the choice of neutral tones and shades rather than loud, aggressive colours, a fresh smell, the addition of a few flowers, the removal of all clutter and the uncompromising binning of anything that is broken cannot fail to create a more favourable impression.
In that they require an income, landlords need tenants.
It doesn't come any more basic than that. A vacant property loses money rather than making it. And in the world of real estate, losing money is the antithesis of a landlord’s raison d’etre.
A good property produces rental income from reliable tenants. That is Aria’s objective in every transaction.