From rent collection, organizing finances, finding tenants to arranging for a plumber to fix a drainage system for one of the tenants, it never gets easy for you as a landlord. And the responsibilities increase as your property portfolio increases. But, there is a way to make that easy. Hiring a letting agent to manage your rental property is just like hiring a nanny to take care of your children, only that in this case, your rental properties are the children. The benefits can be much more. Whether you possess one rental property or many, here is why you should work with a letting agent.
Getting your rent on time
One of the most primary reasons landlords choose to hire letting agents is that it guarantees timely rent payments. Most landlords face cash flow interruptions whenever tenants fail to pay rent on time for various reasons. Depending on the letting agreement with your agent, you will always get your rent on time since agents are skilled in dealing with tenants and collecting rent within the specified timelines.
You don’t have to worry about legal responsibilities.
Working with a letting agent from any Dowen Estate Agent Branches means that you don’t have to worry about any legalities involving your rental property. The letting agents possess all the skills for handling the legalities of rental properties. In addition to that, they have attorneys who can handle contracts linked to your properties. That also saves you the money you would have incurred to hire a lawyer.
Your property stays in good condition.
One of the duties of a letting agent is to ensure that your property stays in good condition. They do regular inspections to check your property’s physical condition, prevent any misuse of your property by tenants and take care of any problem such as garden growth or pest infestation. The agents act as a bridge between you and the tenants by inspecting the property on your behalf. Plus, depending on your agreement, you may not need to pay management fees for vacant houses.
The agent finds the best tenants.
A letting agent not only fills up your vacant house with the best tenants but also finds them within the shortest time. They carry out extensive screening of potential tenants and proper referencing. It can be challenging to spot the best tenant as a landlord, but agents are good at finding the best ones to prevent future problems. They have dealt with tenants long enough to spot a troublesome one the moment he/she walks into their office.
A proper inventory is necessary before any tenant moves into a vacant house. As a landlord, you may not have enough time to handle all that. It is easy to overlook some things making it difficult to win if taken to adjudication by a tenant. A reputable letting agency has adequately trained personnel to carry out a proper inventory for your property.
Managing your property in the best way.
A letting agent takes care of your property in the best way possible by facilitating timely repairs of any damages. That way, problems don’t get out of hand or worsen due to neglect.
The bottom line
Landlord responsibilities do not need to overwhelm you, thanks to letting agents. Working with a letting agent gives you peace of mind knowing your property is in good hands.