Whether you own 1 property, or 21; attempting to self-manage will inevitably present you with a catalogue of worries, such as rental arrears, finding the right tenants, sudden unexpected bills – and potential fines. And as your property portfolio grows, so, of course, do your responsibilities. The benefits of using a letting agent therefore are numerous, as these concerns will become eliminated. With legislative changes now near constant, getting it right going it alone is becoming increasingly complex. Do yourself a favour. Save yourself from becoming yet another statistic in a long string of self-management horror stories by taking into consideration the following benefits of using a letting agent…
Benefits of using a letting agent # 1: You could save money!
Are you looking to cut costs as a landlord? That’s understandable. Nobody wants to spend money unnecessarily, especially if your budget is tight. But if financial concerns are the driving force behind your decision to self-manage, you might be surprised to find that in almost all cases, the benefits of using a letting agent will far outweigh the costs.
Research has suggested that the average letting agent saves their clients around £1910,00 a year. This are several reasons for this. Primarily, it’s down to the minimisation of void periods. But also, a simple mistake on your part, could prove extremely costly.
Whilst the odd lucky landlord might fluke their way through choppy waters unharmed… for most; it’s a lifetime of leaky roofs, faulty boilers, unreliable tenants, and unexpected fines.
Benefits of using a letting agent # 2: Protecting yourself against rental arrears
Unless gambling your money away is one of your goals, then opting for a rent guarantee is a no brainer. With unemployment levels expected to peak moving in 2022 as the Coronavirus pandemic continues to impact the UK economy; you will find yourself more at risk than ever. Conventional full management services will ordinarily be available with or without a rent guarantee. But the latter option is by far the most sensible.
Here at Choices, we offer our rent guarantee in conjunction with ARO (The Advanced Rent Option), which not only provides you with first-class property management; but allows you to take your guaranteed full market rent, a year in advance – at no extra cost.
This exclusive service:
- Guarantees to pay your rent for up to a year if your tenant doesn’t
- Covers any issues relating to the pandemic
- Covers up to £1000+vat of legal costs
- Goes to court on behalf of the landlord with assistance from a solicitor
- Saves you the hassle of taking out insurance
Benefits of using a letting agent # 3: Saving time
Letting a property can be incredibly time consuming, which is something you should really factor in when contemplating expenses. There are a multitude of time-consuming tasks that a letting agent will do on your behalf, such as:
- Sourcing and referencing tenants
- Conducting property viewings
- Ensuring your property is compliant
- Minimising void periods
- Eliminating legislation fines
- Carrying out inspections
- Dealing with deposits
- Ensuring property is well maintained
- Carrying out a proper inventory
Benefits of using a letting agent # 4 Peace of mind
The effects on your mental health dealing with a bad tenant can be excruciating. A problematic tenant can make your life a living nightmare. It’s far preferable to have a third-party deal with tenants’ queries and take care of any problems. At the end of the day, a good letting agent will offer you complete peace of mind. And that’s invaluable.
Here to help you make the right choices
Choices provide value to both landlords and agents that go above and beyond the conventional approach. Choices are a people’s business – and client satisfaction has always been our primary focus. Feel free to take a look at our propositions for home sales, lettings and property investment and don’t hesitate to get in touch!