It doesn’t matter whether you are a new or seasoned landlord. Either way, an Estate Agent like Bluestone Sales and Lettings are a handy contact to have.
Seriously, letting through an agent is extremely beneficial.
Why, you ask?
Raising rents and targeting tenants
Quality agents are experts when it comes to understanding market conditions and demands. We are well versed when it comes to assessing potential rent values and can help you get the top price for your rental property.
Also, because agents have access to a wide range of marketing and advertising channels, they are well placed to find your next tenants in quick time.
Getting the right tenant
When looking for new tenants, there are identity and right to reside checks to carry out, as well as credit reports to be filed and references to be obtained from employers and current landlords.
Plus, if an applicant is deemed financially uncertain but has a clean history, it’s important to get them to provide a guarantor or provide the full term’s rent in advance.
Needless to say, all of this can be very time consuming, as well as pretty pricey, so it’s good to have someone in the know to do all the leg work for you.
No, I don’t mean we’re all good at yoga! Decent agents adapt to the needs of each landlord that they work with.
Some may only want basic assistance, such as tenant finding services, whereas others may need more comprehensive help, with anything from rent collection to a fully managed service.
Either way, agents are there to offer help when – and how – you need it.
Making life easier
There’s no escaping it… when you own a rental property, issues arise. There may be a plumbing issue, or a leaky window or, heaven forbid, a problem with pest control. Yes, maintenance can be ongoing and it’s important to get it right.
Of course, it’s not always easy to find the right tradespeople. Agents, however, generally have access to a network of people that they can contact to get a job done quickly.
They can also act as a middle man between the tenants and the tradespeople and solve day to day property management issues. And let’s face it, maintenance is one headache most landlords would happily do without!
Property problems that arise don’t just relate to maintenance issues. Tenants can lock themselves out or lose their keys, amongst other minor inconveniences. And, of course, they usually happen at the most inconvenient times!
Agents are well placed to deal with these little annoyances on a day to day basis, saving landlords a lot of unnecessary hassle. It also helps to keep tenants sweet, if their problems are resolved quickly and easily.
Agents have their eyes on the ball at all times. If an issue arises over late payment, agents can take the pain out of chasing up rent; it’s something we’re good at!
We can also put cover in place to ensure you always get paid, which is definitely a bonus!
Setting your mind at rest
Pitfalls are unavoidable for landlords. Mistakes do happen when you are trying to keep all the plates spinning and tick all the boxes. It’s no wonder, considering there are so many obligations that you need to be aware of.
But if you put all the pen pushing in the capable hands of an agent, you won’t suffer the burden of incorrect claim forms and tenancy agreements, unprotected deposits and any necessary legal action.
It doesn’t matter how long you’ve been a landlord… it is a never-ending learning curve. You could spend the majority of your time trying to keep up with the lettings market and all the regulations that owning a rental property entails and still always be one step behind.
However, it’s an agent’s job to keep up-to-date with all the latest legislative issues, and so can offer advice on all landlord related issues.
A nice nugget of information here for you… letting agent fees can be offset against rental income for tax purposes! So can a lot of costs associated with your property. And that’s always a bonus!
It’s the little things
Basically, agents are there to hold your hand and take the majority of the weight of being a landlord off your shoulders. We can also offer a lot of additional services that make landlord life far less stressful!
So, if you want support for your rental properties, whether it be basic services or full-blown management, give us a call and Bluestone Sales & Lettings. Let us help you free up your time for more important (or more fun!) activities.