Property expert: The rental market
PUBLISHED: 11:08 22 July 2016 | UPDATED: 11:08 22 July 2016
Daniel Collins of Lloyds Residential on why the rental market remains a good investment
Who are you and what do you do?
I’m Daniel Collins, co-director and branch manager of Lloyds Residential’s latest office in Woodford Green which we opened in May. We are a letting and property management specialist operating in West Essex and East London for over 15 years.
What do you love about your job?
I love the fact that it’s fast-paced and that no two days are the same. But the best aspect of my job is, unlike in sales, we get to build long-standing relationships with our clients. Many of our landlords have remained with us since day one and that makes us very proud.
How are changes to stamp duty rules and the UK’s decision to leave the EU likely to affect the rental property market?
The lettings market remains very robust and is usually less affected by external factors than the sales market. People are always looking to move and, while a decision to buy may be affected, generally speaking there are always people looking to rent.
We’re also still in a period of historically low mortgage interest rates and with rentals in the area at an all-time high and still increasing which means great conditions for landlords.
What advice would you give to prospective landlords?
Make sure you pick the right agent because you’re going to be trusting them to protect your investment. We’re a member of the Property Ombudsman and it’s vital that any agent you use is a member of some external body to which they’re held accountable.
It’s also essential to make sure you do your research before making any investments. There’s lots of legislation now in our industry, from gas safety to deposit protection and it’s really important to be aware of any new regulations coming into force.
Obviously the right agent will be able to advise you on all of these issues. We ensure our landlords are kept up-to-date with latest changes in legislation to ensure they remain compliant, protecting them and their tenants alike.
What is the key aspect of the relationship between agent and landlord?
Communication is really important and the way we operate, in terms of property management, is by allocating an individual property manager to each landlord. This means we can build relationships with both landlords and tenants to keep everything running smoothly.
What’s important when it comes to finding tenants?
We’re always aware that landlords are trusting us to take care of what is probably their biggest single investment. It’s a big responsibility which we take very seriously.
As such all prospective tenants are vetted by an independent referencing company and only those that meet all the checks and criteria are put forward.
We also provide landlords with rent guarantee and legal protection entirely free of charge which gives them that ultimate peace of mind that, whatever happens, they’re completely covered.
What do you do to relax?
I enjoy going to watch my son play football and I play a bit of golf myself. Other than that, socialising with family and friends.
What makes you happy?
Again, family and friends. Professionally it makes me happy to be running a successful business, providing a great service to our clients.
Get in touch
356 High Road, Woodford Green IG8 0XQ
020 85056494 www.lloydsres.com