3 benefits of landlords using a letting agent

Landlords can benefit from using a letting agent who can not only find tenants, but also manage their property on a daily basis.

It may be easy to think that cutting out a letting agent – and the fees that they charge – from the process of renting out a property is one way of boosting your bottom line.

However, during the pandemic it’s more important than ever to protect your rental investment – and having a letting agent can be one way of doing that.

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Why use a letting agent?

We take a look at three reasons why landlords may benefit from using a letting agent. These include acting as a negotiator, knowing the regulations about renting out a property, and managing and maintaining a property in the longer term.

These can all ultimately help to save you time and money, and potentially boost your profits.

1. Negotiating tactics

A good letting agent can negotiate and mediate discussions between landlords and tenants. This can help sort out any issues early on – and alleviate any additional stress on you.

Having a rental investment that’s operating smoothly and efficiently will help to save you time and effort, and ultimately money.

2. Experts on the regulations

There are dozens of pieces of legislation covering the rental market and a good letting agent will not only know what these are, but will also keep on top of them.

During the pandemic, there have been many legislative changes in the property market, including the ban on tenant evictions.

Keeping up-to-date with these changes can feel like a full-time job if you don’t work in the lettings industry.

Fortunately, a professional and experienced agent can help you avoid penalties for not meeting your obligations – and you won’t have to spend valuable time researching the law.

3. Maintaining properties day-to-day

A good letting agent will keep an eye on your property and make sure you’re compliant with any legal checks, such as gas and electrical safety.

They’ll also make sure that all parties – both landlord and tenants – know what’s expected of them.

For example, a letting agent can give your tenants timely reminders about maintenance, such as looking after gardens or making sure they’re not putting pictures up on the walls.

By employing a reliable letting agent, landlords can make sure their properties and profits are maintained without the hassle of managing tenants and legal responsibilities.

What’s your experience with letting agents? Let us know in the comments.