Why Private Landlords Are Now Looking To Use Letting Agents..
Being a private landlord means having to deal with a number of unexpected incidents and situations. But few could have anticipated the arrival of the coronavirus this year and the impact it has had on the renting sector.
Government regulations have become more stringent in recent years, while changes to mortgage criteria over the past decade have made things even more challenging. When you put all these issues together it’s easier to understand why private landlords are looking for alternative solutions, with letting agents often proving to be the answer.
How can letting agents help private landlords?
Taking all of the above into consideration, it illustrates a lot more work is being undertaken by private landlords. This may not prove ideal for many who combine their role as landlord with work and other lifestyle commitments.
Turning to letting agents who offer letting management services allows private landlords to still enjoy the long-term yields that come with letting their property, while reducing the pressure that comes with maintaining their legal responsibilities.
For example, at Regal we offer various management services to suit the requirements of private landlords. These range anywhere from the collection of rent on the landlord’s behalf, to the full management of the property, which includes marketing, vetting tenants, maintenance and remaining the point of contact during the tenancy.
How do you choose the right letting agent?
There are a few things to look out for when searching for the right letting agent to work with. Initially you should search online to get an idea of feedback and ratings. Where possible, also talk with people who have used their service to get a more detailed insight.
It’s a good idea to check they are members of some of the industry’s main professional bodies. This includes the likes of ARLA Propertymark, the National Approved Letting Scheme, Chartered Trading Standards Institute and an accredited government deposit scheme such as Mydeposits. Being members of the Ombudsman scheme and a Property Redress Scheme is also important.
What are the benefits of using a letting agent?
A reputable letting agent will be able to offer the following benefits:
- Proactive marketing: Aside from using their own website and promoting your property on popular online property portals, they will already have an active database of tenants who could be a good fit for your property. All background checks and paperwork can be managed in-house and they will ensure the property meets all current regulations before a tenant moves in.
- Ongoing management: Taking up the full management service means the letting agent can deal with all maintenance and repair issues around the clock. That means you don’t have to worry about late-night callouts or unexpected emergencies when away from home.
- Rent arrears and evictions: This can be a difficult thing for private landlords to deal with, as it’s a sensitive issue. A good letting agent will have years of experience in this area and will be able to manage rent arrears and evictions sensitively and professionally – protecting both your money, property and rights of the tenant.
If you’re looking to let out property in Willesden Green or the surrounding North West London area, get in touch with us today on 0208 459 2530 or via email email@example.com. Our expert lettings team can provide more details on our Lettings Services which include Rent Collection, Let Only, Property Management & HMO Management and can answer any questions you may have.
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