Are you thinking of purchasing a rental property? Do you want to rent out your property for the first time? Or, do you have an established property portfolio but looking to have it managed for you?
Being a Landlord can be a daunting task. You spend hours upon hours wading through endless mountains of paperwork… and that’s before you even think about tackling the complex legislation. It can be a challenging and hard-wearing industry but if done right it can be rewarding too.
Being a private landlord means you have complete control of your property. But, it also means that you are on call to your tenants 24/7, meaning when things go wrong, you are responsible for providing a timely solution.
To avoid this, many landlords choose to partner with a letting agent. Although you relinquish some control, the benefits are often game-changing.
Seven Reasons Why You Should Partner with A Lettings Agent
1) When you partner with a letting agent, you are tapping into unrivalled industry knowledge. Your agency will assist to solve any issues with your property before it is listed on the rental market. This often reduces the time it takes to find tenants and can minimise costly void periods.
2) Your letting agent is there to do the heavy lifting when it comes to legal obligations.
Legislation is constantly evolving in the world of property. Letting agents will digest new guidelines and offer advice on exceeding best practices.
3) Agencies are experts in tenant referencing. Landlords can wave goodbye to costly and time-consuming referencing tasks. Your agency will handle this for you, increasing the chances of finding a great tenant.
4) You will benefit from a professional, third party inventory provided by your chosen letting agent. This is essential for landlords, in case you ever have a dispute at the end of the tenancy.
Having an inventory produced by a third party increases the credibility and is more reliable when compared to a DIY version.
5) Your agent will conduct regular checks on the property. This means that any damage is discovered at the earliest point possible. The agent will then arrange for the issue to be repaired or replaced in a timely fashion.
If you manage your properties privately, months or even years can go by between inspections.
6) Should you ever need to evict a tenant, the letting agent will be able to guide you through the correct process.
7) The letting agent can act as a middleman between you and your tenant. Dealing with tenants can be difficult and stressful, especially during a dispute. Having the letting agency act as a mediator allows landlords to resolve issues in an efficient manner.
A well-chosen letting agency will offer flexibility for landlords. You could choose to have the letting agent deal with all the paperwork, while you deal with the tenants. Or you may want the letting agent to have full control and manage the entire process.
M A S O N S is one of Hertfordshire’s leading letting agencies. We offer an award-winning letting experience for landlords through highly flexible and quality property management services covering Hitchin, Letchworth, Fairfield Park, Stotfold, Biggleswade, Stevenage, Welwyn Garden City and Hatfield.