A professional agent is worth their weight in gold…
Successfully letting a property yourself can be a daunting task and there are a number of things that can go wrong if you aren’t careful. Believe it or not, using an agent is not as expensive as people think and whilst paying for the service, you are also paying for someone to take care of everything for you and give you peace of mind. Can you really put a price on that?
Marketing the property
An agent will give both a realistic view of the market and an expected average monthly rent for your property. By offering simple ideas to make your property more marketable and by using professional photography and floorplans, they will help attract the best tenants. In addition, any property viewings can be carried out by the agent, which is particularly helpful if you work full time or live a distance from the property.
When someone expresses an interest in your property, the agent will make sure that the prospective tenant can afford the monthly rent and that all is well with their finances. This is achieved by a comprehensive referencing check.
Your legal obligations
There are also some legal aspects that need addressing. These include making sure you have a current Gas Safety Certificate, preparing an EPC, ‘Right to Rent’ checks and taking care of the tenant’s deposit using a registered deposit protection scheme. A good agent will also keep you abreast of any new legislation and ensure that you have up to date information on any issues that may affect you as a landlord.
On-going management
The agent will take care of drawing up an inventory and once the tenant is in situ, carry out regular inspection visits. They will also take care of maintenance issues that arise by acting as the go between you and the contractor for authorisation of work to be carried out, as well as liaising with the tenant to ensure that the work can be carried out in a timely fashion.
Payment problems can negatively affect your property’s profit potential. The agent can communicate with your tenants and try and resolve any late payment issues quickly. If this doesn’t solve the problem, they will be able to advise on the next steps and ensure that the correct procedures and processes are followed.
These are just a few of the tasks carried out by an agent when managing a property. Hopefully you can start to see why an agent’s fees are actually great value!
Belvoir have over 20 years’ experience of letting properties in Andover. Our fees are competitive and our highly experienced lettings team can help and advise on all aspects of being a landlord. Please call 01264 366611 or pop in and see us in Bridge Street.