End Of Tenancy Deposit Negotiations Advice
Tenancy deposit disputes are often the most difficult part of the process for any landlord. However, there are steps you can take if you are managing a block of flats to make the end of tenancy deposit negotiations a less painful experience. Proper documentation, communication with the tenant and block of flats insurance can prevent all sorts of problems at the end of a tenancy period. Read on to discover some important advice for property owners and managers on preparing for the end of tenancy negotiations.
Clear Communication with A Tenant
One of the most important things to remember when managing a block of flats is having clear communication with a tenant. Most deposit disputes occur due to a lack of understanding about the end of tenancy process. It is worth taking the time with a tenant at the start of the tenancy to run through an inventory to avoid disputes later down the line.
Another important piece of advice for property managers is to arrange check-ins with the tenant. Check-ins are now more difficult to schedule due to the pandemic, and this has led to an increased number of disputes. A few check-ins throughout the year can help highlight to the tenant any potential problems they may face at the end of their tenancy. Something that is often overlooked by landlords is highlighting to the tenant who is responsible for the various bits of contents and fittings. The property managers block of flats insurance will cover certain elements but the tenant may also need to arrange their own contents policy. If you are looking for a block of flats insurance quote, get in touch. We offer a range of policies for flats insurance.
Common Reasons for Deposit Deductions
When managing a block of flats, understanding some of the most common reasons for deposit deductions and having the right block of flats insurance can help during a negotiation. The main reason for deposit deductions is often the end of tenancy cleaning fee. It is important to highlight to the tenant that this is a requirement once they move out of the property. Or that they must find a service themselves that meets the required standards.
Any damage to the property is often a reason for deposit deductions. You must have clear evidence of any prior damage to the property before the tenant moves in. The same applies when tenants leave. This will help better the chances of making a successful claim with your flat’s insurance. If you are managing a block of flats, it is important to be clear to the tenant what the requirements are when it comes to redecorating. Unagreed redecorations can often be a point of contention when it comes to making deductions from a deposit.
Asset Inventories
A detailed asset inventory is the best way for anyone managing a block of flats to avoid any potential end of tenancy disputes. It is important to document not just the contents of a property, but also the condition of each item. This is because many items can fall into grey areas. Being able to understand who is responsible for replacing an item is key during end of tenancy negotiations.
For a block of flats insurance quote or for advice on managing a block of flats, contact us at Flats Direct and speak to one of our team. We provide quality advice for property managers and can find you the right cover at a great price. To discuss your block of flats insurance policy, call us on 0800 731 6242 or email info@flatsdirect-uk.com.