There are more pros than cons to using a letting agent, so your choice may simply come down to cost, what you see as value for money and how much time you want to spend on letting your property.
Some major advantages are listed below:
- Stringent vetting and referencing procedures mean you’re more likely to attract reliable tenants
- The secure deposit protection scheme administration is taken care of for you
- We can handle all of the paperwork in relation to your property
- Rent can be collected and chased up on your behalf
- We can deal with all the day-to-day property management and maintenance issues
- We are experts in the field with good knowledge of market conditions and demand
- We will probably be able to achieve a higher rent than you would
- We are up-to-date on current legislation affecting landlords
- You have an objective and impartial buffer between you and your tenants
- We are experienced in dispute resolution
- If you need to evict a tenant, we know the correct legal process
- Employing us should reduce your workload (and possibly stress and anxiety)
- We may be able to offer legal, landlord Insurance and tax advisory services.
Your tenants feel comforted knowing they can contact us 24hrs a day to report any maintenance or emergency issues. Our vetted, qualified and fully insured contractors are available 24 hours a day which ensures any emergencies are adhered to quickly, minimising the risk and damage.
Your dedicated Property Manager will visit the property regularly providing you with a photographic documented report on the current condition and their feedback.
If we need to attend a court hearing, serve legal documents on the tenants or visit your property to oversee contractors work, we are on hand to accommodate this.
You will be provided with the report and a guide as to your applicant’s suitability.
We use an external AIIC (Association of Independent Inventory Clerks) inventory company as they are dedicated in promoting the highest possible standards of accuracy and reliability.
‘Contact Us’ for more information and pricing of an inventory report.
1. A new paint job and clean-up:
These days, tenants tend to stay in a property for around two years, so they are not looking for temporary accommodation as they may have been in the past, but for a home they can call their own.
2. Upgrade kitchens and bathrooms:
Replacing a tired and out-of-date kitchen and bathroom can not only have an impact on rents but can encourage the tenant to stay longer, reducing re-letting costs and potential void periods in between lets.
3. Add en suites:
Modern student halls often have en suites, but not all rental properties do. So, if it is possible to add private facilities – especially for landlords who are renting rooms – it is worth doing so as this may attract wealthier tenants who are willing to pay extra for the facilities.
4. Can you extend?:
If renting rooms is not an option, such as where the property is not large enough, it may be possible to add extra space to create more rooms to rent. Alternatively a landlord may have a two-bed property of a type that is oversupplied in an area where tenants are desperate for three-bed properties.
5. Target specialised rental markets:
Some properties may be suited to tenants who can pay more, such as a home that incorporates a 'granny annex' for multi-generational living.
6. Offer ‘added extras’:
Many people consider that tenants are renting because they are on a budget, however, in some areas, renting can actually be cheaper than buying.
If as a landlord you have access to a premium tenant market, it may be possible to secure more rent by providing a higher than average spec property with state of the art appliances, decor and security systems. Do check this investment will deliver enough additional rent to cover the higher costs and that premium tenants will rent your property type in the area it’s located.
- Advertising your property, taking enquiries from potential clients and booking rentals
- Liaising with clients to answer all queries and handing over keys and instructions for the property
- Handling all day to day problems and sorting them out quickly
- Keeping accurate records of bookings and income
- Handling deposits and checking inventory, replacing faulty or broken goods
- Cleaning the property in between lets - and during them if necessary
Of course, to stay within the law it helps if you know a little about it. There is no substitute for professional legal advice, but here are some key factors to consider if your tenant stops paying rent.
Unpaid rent and landlords’ rights - Put simply, as a landlord you have the right to charge rent and to receive rental payments when they are due. You also have the right to receive proper notice to end the tenancy if and when your tenant decides to move out.
Beyond your basic legal rights, your tenancy agreement may grant additional rights and responsibilities to the tenant and/or landlord. That’s why having a carefully considered and legally sound tenancy agreement is a must – it could save you significant time and money in the future.
Some tenants may think they can legally withhold rent if there is a dispute, such as the condition of the rental property. But, as the Citizens’ Advice Bureau points out, tenants cannot legally do this and can put themselves at risk of eviction if they stop paying rent.
As a landlord you also have a legal right to explore your potential or existing tenant’s rental history. There are resources to check a tenant’s history. These provide information on the tenant’s previous landlord and whether there were any rent defaults or property damage registered to that tenant.