6 Benefits of letting your property through an agent
If you are currently trying to make money from the property market, then you might have considered letting as an option. While there are indeed many people who manage to make money in this way, there are several things that you need to take into account before doing so. One of the biggest decisions that you will need to make is whether you use a letting agent or not. There are several benefits of doing so, and this blog will take you through some of these.
You will be able to find you tenants quicker
Finding somebody to let your property to can be difficult sometimes. You as an individual won’t be able to do things like run background checks on the people you are letting to. If you let through an agent, however, they will be able to do this. They are likely to have a waiting list of people wanting to let, meaning that they can find the perfect match much quicker than you would have been able to.
You can make sure your property is ready to let
When you are letting a property, you need to meet certain standards. While you may not have a clue about any boxes that need to be ticked, your letting agent will know exactly what to do. He will be able to help you make sure that everything is right before your tenants move into the property. There are many different legal aspects of property letting, such as having the appropriate gas and energy certificates, and all of this will be dealt with for you.
They will deal with property viewings
If your property is empty at the moment and you are looking for new tenants, you might have difficulties to find the time to show the property . You may find it frustrating to have to take time out of work to arrange viewings, particularly when you get time wasters. There are so many people who choose to view properties out of curiosity rather than because they genuinely need one. If you are letting through an agent, they will deal with this for you, meaning that you don’t need to worry about showing tenants round.
You will get a proper Inventory
When you let your property you will have to equipe it at some level. Often this is as simple as curtains and light fittings, but if the property is let fully furnished then the list can be quite extensive. To ensure that your tenant leaves everything as they found it, an inventory is a must. However this can be difficult to do on your own. A letting agent has plenty of experience doing this, so can deal with it for you. They will also take photographs of the state of the property at the beginning of the tenancy. This means that if tenants damage anything, it cannot be denied at a later date.
Repairs will be dealt with
Nothing is more frustrating for a landlord than getting a phone call from a tenant to say that something broke at the property. Almost nobody has enough time in the day to deal with this. If you decide to use a letting agent, he can do this for you. No matter what the repair might be, there is no need to worry, as they will arrange to come and see the damage and call out a handyman if needed.
They will collect and chase rent where necessary
A lot of people prefer to pay by direct debit these days. However sometimes tenants will fail to pay their rent on time. It is never nice to have to chase people for money. If you have a letting agent they will do it for you, meaning that you won’t have to think about that side of things at all.
There is certainly money in property, but letting comes with a certain level of responsibility. If you would rather enjoy the income without any of the stress then the fee that you pay to your letting agent is more than worth it, and will allow you to put your mind at rest and enjoy the financial yield that comes with being a landlord.
However you might also chose to go for a Rent Guaranteed formula and make more money.
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Alessio Tondo & Fabio Tarantino
Two ordinary guys who turned their passion into a business.
Rent 2 Rent specialists, London
Focused on how to Increase Your Rental Income.