5 Reasons Why You Should Get a Professional Lettings Valuation
A lettings valuation details the amount or level of rent that you may generate from your property. The process often involves reviewing similar properties within the area to see how much rent they are charging alongside data on existing market trends and conditions.
Whilst landlords do not have to get a lettings valuation conducted by a professional such as a letting agent, it is often advised that they do so. Here are some of the reasons why you should get a professional lettings valuation:
Reliable and accurate rental yields
Local letting agents are experts in their local area. Therefore, they offer a trusted opinion on the rental income that you can expect from your investment.
As they are knowledgeable about the local property market, they will be able to share their insights and exclusive data that will help in providing an accurate rental valuation. This data will allow them to calculate a reliable rental yield for your property.
There are some online tools and resources that you can use to obtain a lettings valuation and you could even attempt to conduct a personal valuation based on properties in your respective area.
But in reality, conducting a valuation in this way takes much longer than calling a professional.
Even better is the fact that most letting agents offer a free lettings valuation. Thus, you will end up keeping money in your pocket rather than spending it.
Learn how to maximise rental income
Letting agents work hand in hand with you, allowing you to be conversant with the ins and outs of the process. They also answer any questions that you may have.
In addition to this, they can advise you on ways to maximise your rental income such as furnishing, renovating or redecorating your property.
Attract more tenants
Every landlord is looking to attract the best tenants. With a lettings valuation, you can market your property so as to compete or match with similar properties in your local area.
Remember, if you are advertising your property at a much higher rate than similar properties in the surrounding area, this could put off potential tenants, especially if there is no reasoning for the higher price.
Understand what lettings services are available
There is nothing better than an all-in-one service. By hiring a professional letting agent, you can inquire about other available services like property marketing, rent collection and property management among others.
This way, you can enjoy an ensuite of services all in one place and it can help take the pressure off.
Are you looking to let out a property in North West London? At Regal Estates we offer a wide range of lettings services including a free lettings valuation. A member of our expert lettings team will simply visit your property to assess its condition and features, then use local market insight to generate an accurate and reliable lettings valuation. You can book your free valuation on our website, phone us on 020 8459 2530 or email firstname.lastname@example.org.
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