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 AREA landlords time.
1) Find good tenants – The key ingredient to a successful let is a reliable tenant. Letting agents are experts at tenant sourcing and reference checks.
2) 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.
3) 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.
4) Handle evictions – A letting agent will navigate this complex and stressful process for you.
5) 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.
6) 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.
To learn more about our tenant finder and property management services, contact us on 01243 252984.
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