As a landlord one of the things you probably don’t want is tenants calling you at all hours of the day with minor problems. Not only is this inconvenient but it can also be costly, as to resolve things quickly you often just get the first tradesmen available irrespective of the price. One of the ways to avoid this type of issue is to employ the services of professional letting agents. Whether you’re after letting agents in Wigan, Wolverhampton or West London you’ll want to use someone local to where your properties are situated to manage them.
Now obviously there is a cost associated with using any type of service, however we believe the benefits associated with using a letting agent far outweighs any reduction to your profits. Finding a tradesman at short notice is not the only benefit of using professionals manage your properties. In this post we have listed five ways using a letting agent can make your life as a landlord much easier.
They Deal with The Tenants for You
Many landlords see tenants as a necessary evil who they generally only speak to when a problem arises. A letting agent will act as a buffer between you and your tenant. All but the most experienced landlords often find face to face dealings with tenants difficult. This is especially true during any form of dispute. A letting Agent will remove the need for you to have any personal contact with your tenants making your life much less stressful.
They Provide You with a Rent Guarantee
Obviously the main reason for renting out you properties is to ensure a regular income and in many cases safeguard your future. So, the last thing you need is to not receive the rental payments you are entitled to. Most reputable letting agents offer landlords a rent guarantee, meaning that you get your payments regularly irrespective of any issues that may arise with the incumbent tenants. They will also deal with unpleasant problems such as evictions.
They Have Access to Reputable Local Tradespeople
All properties develop problems from time to time, the mark of a good landlord is to get it dealt with quickly and without fuss. Because of the nature of their business letting agents have access to a number of reputable tradespeople. This allows them to either get someone out quickly in cases of emergency repairs, or get a number of quotes for bigger jobs. They will help ensure that costs for any work are kept to a minimum and within any prescribed timescale.
They Understand the Local Market
Having an in-depth knowledge of the local property market means that an appropriate rental value can be set. Without this knowledge you will be guessing what your property is worth on the rental market. Getting this wrong can result in one of two things, either you place too high a value on your property resulting in it remaining empty for months on end. Alternatively you could set too low a value and not get the amount of rent your property deserves. Also they will use all local platforms to advertise your property ensuring it has the best possible chance of being let quickly keeping down time to an absolute minimum.
They will Get Vetted and Trusted Tenants
One of the major benefits of Letting Agents is that they will take responsibility for vetting prospective tenants. They will take care of referencing tenants, removing the possibility of false references and ensuring you get a dependable tenant. Letting agents will also deal with all legal issues around the lease and rental contract. This ensures that everything is done correctly, and both your rights and the rights of your tenant are observed.
These are just some of the benefits of using a professional lettings agent, there are many more hopefully the information included in this post will help if you are a landlord and encourage you to do some more research.