Why Should Private Landlords Have An Agent?
All the reasons you should use an agent to help rent out your home
If you’ve made the decision to let out your home then the chances are you might not know a lot about the process of actually doing it. This is where an agent can be very helpful; they are there to guide you through all the complicated formalities and legalities while taking all the pressure off yourself. Here’s why you should use a letting agent when renting out your property…
Create a safe environment
If you’re operating as a private landlord then this can deter potential tenants from even viewing the property – many people don’t like the idea of meeting a stranger in a new location – whereas people are more likely to trust an agent. Using recognised letting agents will help you attract tenants so your property isn’t sitting empty for a long length of time.
Gain some credibility
Working with a letting agent from an established company will give you some credibility and make it more likely for tenants to want to rent from you. People can worry that a private landlord is trying to scam or overcharge them. The property market is extremely competitive, so you want to eliminate all factors that might make you unattractive to tenants.
Hand over the responsibility
If you were to act as a private landlord then you would have to shoulder a lot of responsibility. Landlords have a duty of care for their properties (including being up to date with faults and repairs, making sure all electricals are safe and ensuring they meet the standard for safety and general living conditions) and the tenants (including handling and chasing payments and following data protection regulations). This accountability can be a lot to take on board; especially if you’re also working a full-time job/ have a busy life.
Utilise their knowledge
As an ‘accidental landlord’ or just someone new to the industry you probably won’t have got to grips with the extensive regulations and legalities involved in the letting of a property. Luckily, this is exactly what a letting agent specialises in so they can take care of all the nitty gritty details and you can be stress-free about the process.
Have some peace of mind
Private landlords need to be easily contactable all hours of the day, which can cause constant worry in the back of peoples’ minds. If a portion of your mind is always thinking about your property, this can ruin holidays, weekends away and downtime. Passing over the handling of your property to a letting agent will alleviate this pressure allowing you to relax.
Being a private landlord is a huge commitment in terms of time and responsibility. It’s clear to see how a letting agent can be beneficial. They will take control of all aspects of the process, so you can take a backseat and avoid all the paperwork and the responsibility of being always available.