Whether you are looking at becoming a landlord or have been one for years, there is a lot to consider when letting out a property. If you have done it before, you will understand that there is a whole lot of work and time involved to make sure that your tenants are happy. From organising your finances, finding tenants, getting documents in place; it is a lot to do by yourself.
However, there is always help when needed, and that is in the form of a letting agency. There are plenty of great reasons and benefits of using a letting agency to help manage your property, below we have listed some of the main points to consider.
A letting agency will help find tenants as they will be marketing the property to the best of their ability. Additionally, they will be able to find the most suitable tenant through the reference process. However, it is impossible to know if there will be problems later on down the line, but due to their knowledge and experience, they will be able to recognise any early signs of potentially troublesome tenants.
Before you even let your property out, there are lots of legal requirements which need to be met. These include fire and safety regulations, Energy Performance Certificates and gas and electrical safety checks. By using a letting agency, they will be able to make sure that you are up-to-date with any legal requirements as well as ensuring that property follows them.
It is definitely a good idea to have a property inventory carried out before anyone moves in. If you choose to use a letting agency, they will be able to carry this out on your behalf, and this will be given more weight if anything leads to a disagreement as it has been written up by a third-party. Additionally, by having an inventory, it will provide a comprehensive insight into what is in the property already and what state it is in; this should stop any potential arguments in the future.
Owning a property is a big investment in itself, so letting out such an important asset you will most certainly want peace of mind. Being a private landlord can come with a lot of unnecessary stress especially when it comes down to documentation such as tenancy agreements. Landlords have many obligations, and these can often be forgotten. With the help of a letting agency and a fully managed service, everything will be taken care of on your behalf.
As we mentioned above, there is a lot of work involved in renting out a property. For example, sometimes things need to be repaired, or tenants could lock themselves out, and a letting agency can make sure that regular inspections are carried out so that you know the tenant is looking after your property as well as be on hand if any problems did arise.
Here at Godfrey Short & Squire, we are always looking for new properties to add to our portfolio in the area. Our success has come from the fact we look after our landlord’s investment as well as the tenants staying in your property.
We offer two types of services which we briefly mentioned above, tenant find or fully managed, you can find out more about this in our landlord guide. Both of our services are very thorough with the fully managed service offering a lot more than some of our competitors. If you would like to find out more about this service, then please do not hesitate to get in touch on 01837 54504.