Detail! As a salesman it is not my favourite thing. I understand the importance of it because if you don’t bother, as salesman often try not to, the business you are trying to write will often unravel before your eyes.
Personally my solution to my own aversion to detail is a wonderful young lady called Lauren who works alongside me and is extremely administratively minded, I have applied a solution that ensures the detail is always in place.
In the property business we have to do the same thing all the time and guarantee that the detail is firmly in place.
At Belvoir we issue notices to our Franchise Owners ensuring that they are aware of all the detail. The problem is that the detail can change or seem unimportant. You see detail likes to disguise itself occasionally to try and catch you out!
One such notice has just been released as a reminder of just such a detail. The practice of having a third party act as a guarantor for the tenancy seems to be on the rise. Agents are seeking to protect their landlords, quite rightly so may I add, and in certain circumstances giving the landlord the option of renting to someone who would normally be refused.
The interesting thing is you have to be very careful how you sign the tenancy agreement. If you get the agreement signed in the wrong order and do not follow exactly the right process the agreement will be voided and if you need to take legal redress will be useless.
I questioned this with our resident expert who advises our Franchise Owners, because surely if all parties have signed the tenancy agreement it doesn’t matter who signed it first?
Apparently yes it definitely does!
Detail is a wonderful thing when you understand it and make sure that you are protected by it and from it.
Please make sure as a landlord that your tenancy agreements are being written following the correct process or you could end up in court and out of pocket!
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