When it comes to managing your property, letting agents can take on marketing your property, finding suitable tenants, hosting viewings and drawing up tenancy agreements. Once the tenant is in the property, depending on the level of property management you are looking for, the letting agent can collect rent, handle maintenance issues and conduct property inspections.
Marketing the Property
Letting agents know how to market your property properly, which means they can get it rented quickly and at a good price. They will ensure that the property listing is accurate and professional photographs are taken of the property.
Letting agents have access to a large number of potential renters who they can screen and choose from, they know what makes a good renter and what doesn’t. They also know what type of property in which area will achieve in rent, so they will be able to price the property accordingly.
Vetting and Referencing Procedures
Using a letting agent means that you do not need to go through the labour-intensive process of finding a suitable tenant. Demand is high for rented properties and each property, but using a letting agent then it takes the time out of sifting through applications.
Letting agents also have a huge amount of experience in finding tenants, so they’ll be able to spot reliable applicants for the property. It also saves you conducting credit and reference checks because this can all be done efficiently by the letting agent.
Property Issues? Problem Sorted!
Like owning any type of property, it is going to have issues from time to time. At some point, the property will need repairs, and it may require a visit from yourself, or arranging contractors to fix the problems on your behalf. If you don’t have a letting agent managing the property, then you will have to do this all yourself which can be difficult to manage. By using a letting agent to manage your property, they will deal with any issues and fix the problems so you don’t have to.
Managing a property is a lot of work and it’s easy to get overwhelmed. Using a letting agent to help you out with the day-to-day tasks of looking after your properties means that it can free up your time for other ventures. You can relax knowing that your investment is in the safe hands of a professional who knows how to keep properties running smoothly.
Rent Can Be Collected On Your Behalf
If you are self-managing the property, you will also need to collect rent directly from tenants. This can be difficult if your tenant lives far away or does not have a stable job and it can cause a lot of frustration having to collect rent.
If you instruct a letting agency to manage your property, they can liaise directly with the tenant to receive regular payments. If tenants fail to pay their rent, your letting agent can step in to find a solution or start eviction proceedings.
Experts in Their Field
A letting agent can manage the contracts and legalities of renting to tenants because being a landlord comes with a lot of regulations that can often change. Using a property agent means that they will ensure that the property is compliant with legislation prior to a tenant moving in and will update you with changes throughout the course of the tenancy.
Deposits should be held by a deposit protection scheme, and John Minnis has an account with TDS Northern Ireland to protect your tenants deposit. A great letting agent will carry out a thorough inventory at the beginning of the tenancy and use photographic evidence as backup in case there are any disputes.
Letting agents have plenty of experience managing end of tenancy disputes and keep up to date with what the protection schemes cover.
Still Unsure?
Take a look at the following questions:
- Would you prefer someone else to deal with tenants queries and issues?
- Are you unsure about relevant regulations and legislation?
- Are you letting out a property in a different area to where you live?
- Are you new to being a landlord and would like some professional help?
If you answered yes to any of the above questions, it is worth talking to a letting agent about what options are available.
Why not give us a call on 028 9065 3333 or email us for more information.