Letting a property is a daunting task. From initially finding tenants to collecting rent and organising property maintenance, there’s a lot of work involved in being a landlord. Luckily, letting agents like Harry Albert Lettings & Estates exist to help take the load off, and relieve some of the pressure involved in letting a property.
If you’re a first-time landlord or a seasoned expert, here are 8 reasons why you should use an agent to let your property.
1. A letting agent can find you a tenant
Lettings agents go through the process of advertising your property and finding tenants to fill it with. They will often show the tenants around to see if they like it, and vet them to see if they are a good fit and likely to pay rent on time. Experienced lettings agents are often skilled at marketing properties, so it won’t be long until you have a tenant-filled property.
2. They can help secure the correct documentation
A letting agent will draw up all the necessary documentation in order to legally let a property to a tenant. This can include making sure you and the tenants have the correct documents and including drawing up the tenancy agreements. Most agents will also secure a deposit for your property and serve all the information and certificates that the tenant must have. This will ensure the property is covered for potential damage from tenants and that you are not prevented from serving notice on your tenant because the correct formalities were not followed when the property was let.
3. They can collect rent on your behalf
As well as marketing the property, letting agents can also collect rent on your behalf, ensure that it gets paid every month, and even chase down arrears if a tenant doesn’t pay on time.
4. They can conduct maintenance on your property
In some cases letting agents can arrange maintenance for your property so that it stays in line with the tenant’s contract. This can continue on an ongoing basis for as long as you feel comfortable.
5. They can negotiate with tenants on your behalf
Letting agents can discuss and negotiate the rental price of a property with tenants. Agents are experienced with the market and have a stronghold on the demand for properties in the area and what sort of prices are reasonable to ask for. A number of agents work off commission, so it’s in their best interests as well as yours to get the highest rental price possible.
6. They can make sure your property is in accordance with all legal regulations
As well as helping with documentation, letting agents can help ensure your property is up to scratch when it comes to current regulations for leasing a property. This can include:
- Updating insurance
- Gaining council permissions for alterations
- Informing the council the property will be let
- Safety checking gas and electricity
- Making sure the housing and furniture complies with the latest fire regulations
Letting agents often work with trusted and experienced law firms such as Helix Law to ensure that the letting of your property is completely above board.
7. They can provide on-site inspections
A letting agent can occasionally arrange to inspect a property. This can be in order to check that it meets the most up to date safety regulations. They can also assess the state of the property and whether the tenants are causing any damage.
8. They can look after your property if you are away
If you are away or out of the country, a letting agent can ensure that your property and tenants are well looked after. Whether you’re leaving the country for a quick holiday or permanently moving away, a letting agent can handle the upkeep of your property for you.