In part two of our series on property management, we look at how letting agents save landlords time – that precious commodity that is always in short supply. A survey of 500 landlords found that using a letting agent saves a landlord on average six hours a month (source: Endsleigh Insurance).
We would go further and argue that letting agents don’t just save landlords time, but the right sort of time. It’s one thing to get a call from your tenant saying a pipe has burst; it’s another if the call comes through while you’re sipping a cocktail on your long-awaited holiday. Landlords must be on call 24/7 as property management is unpredictable. It doesn’t matter if you’re abroad, or under the cosh at work, if something goes wrong, you need to drop everything and act. Unless you have a letting agent, in which case they’ll handle it for you – while you keep sipping that cocktail.
Here’s a list of six ways letting agents save landlord’s time.
- Find good tenants.The key ingredient to a successful let is a reliable tenant. Letting agents are experts at tenant sourcing and reference checks.
- Make sure you follow the law. There are more than 175 plus laws that apply to landlords in the UK. A letting agent will make sure you follow them all – and hence avoid a hefty fine or a criminal charge.
- Conduct inspections. A letting agent will conduct regular inspections to check that there are no safety or maintenance issues and that the tenant is meeting their obligations.
- Handle evictions.A letting agent will navigate this complex and stressful process for you.
- Manage day-to-day tenant relations.A letting agent provides a buffer between the landlord and the tenant. It’s the agent’s job to check in with tenants and maintain good lines of communication.
- Deal with the paperwork.A letting agent will deal with the admin and keep a clear paper trail.
In part one of this series (published last week), we looked at the financial benefits of using a letting agent to manage your property. If you missed it, you can read it here. https://www.newtonfallowell.co.uk/melton-mowbray/blog/12-reasons-to-use-a-letting-agent-to-manage-your-property/
To learn more about our tenant finder and property management services, contact us here at Newton Fallowell.