As a landlord, you can choose to manage your own property, or contract a letting agent to manage it for you. Landlords who own several properties often have their own dedicated management team. But, if you only own one property, or if this is your first investment property, you may just want a letting agent help you to let your property.
What Services Do Letting Agents Offer?
Letting agents offer a variety of services. If this is your first time renting out a home, it is best to choice a letting agent offering a variety of services. This will take all of the headache out of the situation and make life easier for you. As a matter of fact, most landlords soon realise that there is rather a steep learning curve.
Collecting Rent and Dealing With Problems
It is easy to assume that you will not have any problems when renting out a property. However, there are many day-to-day problems that may occur even when you are renting out a brand new investment property.
Dealing with run of the mill problems such as contracts and collecting rent, are just two of the things a professional letting agent can help you with as a landlord. If you find yourself asking what does your letting agent do for you, it is likely you may not have picked the right one.
Finding A Tenant For Your Property
Is it always easy to find a tenant? We have all heard about the UK housing crisis and most landlords presume it is easy to find tenants. Yes, there are a lot of potential tenants out there, but are they the right ones for your property?
When it all comes down to it, there is a lot more to renting out a property and finding the right tenant than meets the eye. For instance, do you have credit checking facilities with companies such as Equifax or Experian? A professional letting agent will always check if a potential tenant has a good credit score and can afford the rental cost.
All of this takes time and you need to have the experience to assess a tenant.
Having A Client Base
How are you going to find your tenant? Of course, you can list your houses for rent in Seaforth on the web or in the local paper. That is a great idea, but you may find yourself inundated with inquiries. How are you going to be able to handle that?
Dealing with a lot of people in one go is not easy. You may already have a daytime job and find it hard to allocate your time to viewings and checking potential tenants out.
Most professional letting agents Waterloo or other parts of Liverpool will have a client base with pre-qualified tenants.
Often using a letting agent is quicker when it comes to finding a tenant and cuts down on the hassle factor. Instead of waiting for weeks for the right tenant to contact you, he or she may instead be waiting for a home in your area to become available.
Who Is Going To Do The Paperwork?
When you rent out a home or any other kind of property, paperwork that needs to be done correctly.
The first piece of paperwork you need to tackle as a landlord is the tenancy agreement. Getting the tenancy agreement right is not easy when you are a first-time landlord. Many landlords use a local solicitor, but that often ends up costing a lot of money.
Using a letting agent to do all of the paperwork for you will, in the long run, save you money and make your life easier.
You also need to have landlord insurance. Finding the right one is not straightforward as terms and conditions vary a great deal. Instead of contacting all of the insurance companies you find online, it is probably easier to find a quality letting agent to help you with all of the necessary elements you need to have in place as a landlord.
A Fully Managed Service
When you really want to make life less difficult for yourself, and enjoy all of the benefits of being a landlord without any of the hassle, it is always best to use a fully managed service.
What does this mean? That means a letting agent will look after your legal obligations as well as all over the other obligations that come with renting out a property.
When you become a landlord, you will find yourself dealing with everything from inventory lists to water leaks. You may not think that is going to take up a lot of time, but it certainly does.
Most landlords also have jobs and fitting in their legal obligations is the biggest challenge any landlord faces. Often you need to have a list of tradesmen you can contact when you have a problem in the property you own. It is a bit like having your own emergency response team.
All professional letting agents have a list of other professionals they work with on an ongoing basis. Finding and setting up your own network of plumbers, electricians and decorators is not for the fainthearted.
Rent collection and disputes are not easy to handle. If not handled correctly from the start, they can quickly go on to cost you a lot of money.
This is why the majority of landlords opt for a fully managed property service. It takes all of the stress out of the situation and you will find that you will have less to worry about at the end of the day.
So, whether you have houses to rent in Seaforth, houses to let in Bootle or looking for letting agents Waterloo, it is best to go for a fully managed service. It means that you can go on holiday in peace without having to worry about the mobile phone ringing all of the time with the tenant’s problems or other issues that come up when you are a landlord.
If you need any help or advice in choosing the right tenant for your property, please don’t hesitate to contact the friendly and professional team at James Kristian, and we will be more than happy to help you.