Whilst it can make sense in some cases for a Landlord to manage their own property, we believe that we deliver the greatest value when we’re giving our customers our full service and support. Why? Well, these case studies help to demonstrate the ‘Braemore Difference’ and how we give you more.
Case Study 1:
Braemore manage an upper villa property where it was discovered that there had been water ingress into the lower villa property and as a consequence there was an outbreak of dry rot. The source of the leak was found and repaired and an insurance claim instigated. After the Loss Adjuster had investigated, the insurance company rejected the claim and were refusing to cover the cost of the works. As the leak had occurred in a concealed area under the boxed-in bath and due to the fact that there was a concrete floor below the bath, the water had travelled some distance before entering the property below. The Loss Adjuster did not take any of this into consideration when filing his report.
How Braemore Helped
Braemore was not keen to accept the decision from the insurance company and set about trying to prove that the claim was completely justified. Our Property Services Manager worked tirelessly, along with our sub-contractors and Wise Property Care, collating reports and photographic evidence to present to the insurance company to prove to them that the work should be covered under the insurance policy. At the same time, Braemore also had to manage the tenant, as the property was tenanted when the leak was discovered and had to be re-housed for over four weeks.
Eventually the insurance company accepted the claim and settled. The Tenant was happy and the Landlord was not out of pocket to the tune of £12,500.
Case Study 2:
Braemore took over the management of a portfolio of 8 rental properties in Fox Street, Edinburgh that was being managed by another agency. One of the properties had a tenant that had been residing in the property since 01/06/2008 and Braemore took over management 22/03/2010. The tenant had lost his job and was unable to pay the rent, which was already in arrears of £600 (1 month) when Braemore took over the management. By the time the tenant vacated the property, the rent arrears amounted to £2,400 (4 months).
How Braemore Helped
It turned out that the tenant was also a Landlord himself, and this meant that he was not a liable candidate for Housing assistance. Through constant communication with the tenant and without engaging any costly legal procedures, Braemore successfully attained not only vacant possession of the property on 1st July 2010 but also payment of the arrears during Braemore’s management. Unfortunately, because the previous agency were unable to provide Braemore with any documentation or confirmation of the rent account up to the date of handover, Braemore were only able to prove, and therefore, claim funds for the arrears under Braemore’s management.
All monies owed under the management of Braemore (£1800) were paid to the landlord on 8th July 2010. This was achieved through a continuous and ardent process of maintaining a constant channel of communication with the tenant regarding his financial situation, legal obligations to his landlord under the terms of the lease and also advice as to how he could release funds from his own rental property.