As a new landlord you might be hearing conflicting reports about whether you should work with an agent to find and manage your tenants. Here are seven good reasons to appoint an established agency rather than go it alone….
Letting agents know their local markets in detail. They can help set the right rent to give you the best returns at a suitable rate for the local area. An experienced agent will know what kind of tenant your property will attract and how to market it to them effectively. And importantly, they will know the pitfalls landlords can fall into and will work to protect you against them.
Being a landlord is increasingly complex, with new legislation coming in all the time, largely to protect tenants. Landlords need to check their tenants’ right to rent, for example, and make sure their tenants are given the ‘How to Rent: The Checklist for Renting in England.’ If you hire a responsible lettings agent like us, then they will ensure your tenancy and property is legal.
Reputable agents will manage hundreds, possibly even thousands of properties in a town or city, which means they will have the contacts to manage almost any emergency, from a plumbing issue to a fallen tree. At Progressive Lets we manage over 800 units, so we always have someone on hand to get out to your tenant 24/7. But as a self-managing landlord you could be left phoning around to find the right help for hours, even days.
Managing tenants and responding to their requests can be time consuming - with some tenants more demanding than others. Reactive, effective letting agents will field all the calls and take steps to keep tenants happy, freeing you up to focus on other things.
The priority for any landlord is to find a tenant that will pay their rent on time, look after their property and not cause any issues with the neighbours. But finding a reliable tenant can be tricky. A professional agent will do all the necessary checks to get the best tenants – from contacting their previous landlords to credit scores.
Having a robust contract in place is vital to protect you and your tenant. At Progressive Lets we have strong standard legal documents that are tried and tested, saving you the hassle of working with a solicitor to create one. We’ll make sure that both parties sign everything to create a binding agreement and we’ll also store the contract securely.
Something that landlords really value is having an experienced ear on hand for any queries. Whether you’re thinking about expanding your property portfolio and need advice on the best areas to invest in; or you’re wondering about turning an existing property into an HMO, our team at Progressive Lets can help. We’re always here when you need us.
If you’re considering using an agent to manage your property or portfolio and would like more information about our range of services, then email our New Business Manager, Paul Oddie or call him on 01733 293900.