Is using a letting agent right for you?
What to consider when deciding which letting agent is right for you
The lettings market in the UK has been increasing in complexity for some time, resulting in an ever mounting workload for self-managed landlords. And now the coronavirus pandemic has unleashed an unexpected curve-ball, causing added disruption to an already turbulent private rented sector.
Many landlords are likely to be asking themselves whether now is the time to offload some of the pressure by taking on the services of a letting agent to help them let out their property in a post-COVID world.
You don’t have much spare time
You’d prefer not to have to deal with tenants’ queries and would rather have an intermediary barrier between you and your tenants
Your rental property is in a different area from where you live
You’re new to being a landlord and are not familiar with private rented sector legislation
You want to reduce stress and prefer to have the peace of mind that the agent will deal with things if something goes wrong
You really want to keep your costs down to maximise your returns
You want to be a hands on landlord and have the time to deal with tenants’ queries and any problems that crop up during the tenancy
You live in the same area as your rental property
You know a network of reliable professionals, such as plumbers and electricians, that you can call upon to help with any issues
You are an experienced landlord or you keep abreast of the regulations that apply to the private rented sector
For those landlords who want to be hands-on, it’s worth joining a landlord association such as the National Residential Landlords Association (NRLA), to access support services, network and help stay on top of legislative changes.
You can also keep up to speed with the latest developments in the sector by subscribing to a landlord news website such as Hamilton Fraser’s news partner, LandlordZONE.
