In this article we’ll look at the advantages to using letting agents and what they can do for you. A letting agent such as Belvoir Lettings Dunstable isn’t just there to collect the rent; they’re also very good at managing your property for you. This means you have more time to spend on enjoying other things in your life.
Getting the Rent on time
If you are tied into a buy to let mortgage you need the rent to be paid on time, otherwise your property may be repossessed. You will also need to ensure that any other bills are covered by the payments coming in. It can be a real problem if or when tenants don’t pay their bills on time or when cash flow becomes a problem. But worry not – Letting agents can manage rental payments for you so you know you’ll be paid on time, every time. Late payments are sometimes unavoidable but chasing one can be strenuous. Letting agents have experience in rent collection and chasing late payments. Belvoir Dunstable also offer services like Rent Guarantee and free Eviction Cover.
Occasionally you need to make sure the property doesn’t have any damages and that it is safe. A simple task, but it can be a burden if you’re busy. Your letting agent will carry out checks for you to ensure there are no damages. This ensures a middle man is available to gain access to the property on your behalf, and to ensure that everything is as it should be
If any damages are found on a check or reported by a tenant they will need to be fixed quickly to avoid further problems along the way. Here at Belvoir Dunstable we have a network of plumbers, electricians, builders etc that can fix the damage fast, and at a competitive price for you. These costs can then be added to your monthly letting agency fees for convenience. Because we have these existing relationships in place already – we can negotiate the best prices for you with trusted contractors.
Finding suitable tenants
If your property is aimed at certain type of occupant i.e. professionals, non-smokers etc then you’ll want these tenants to occupy your property to be of the right type. Finding these tenants can cost a lot of money and it certainly takes time. A good rental agency such as Belvoir Dunstable can quickly find suitable tenants, carry out reference checks and move them in. This saves you time – leaving you to do what you do best elsewhere.
As a landlord there are certain legal requirements which must be met. These requirements are often changing and you need to make sure you adhere to them. As Belvoir Dunstable are part of the Belvoir group with a legal team in our head office we continuously ensure that we are fully aware of any and all changes in the law – and make sure that your property always adheres to them. Falling foul of ever changing legislation can result in large fines for landlords.
How much do you value your time? By managing your own property you’ll likely spend many evenings and weekends on viewings and carrying out maintenance work. If you don’t have much spare time, let the agency do it for you. This is what we do – this is what we are the best at – and you can rest easy, knowing that everything is being taken care of.
Peace of mind
A letting agent gives you peace of mind. It’s your way of growing your property portfolio with confidence. Once you have your first property – you may find that it is so simple going through a good Letting Agent that you are in a position to increase the number of properties. You don’t have to worry about your property because it’s all being managed by the professionals. If that’s something you want to benefit from; contact us today.
Finally, an agency is often regulated to hold deposits and provide protection come the end of the tenancy. This ensures that the Landlord is not hit with terrible repair bills caused by the tenant, but also to ensure the landlord does not unfairly deduct dilapidations.
Daniel Bourke is the owner of Belvoir Lettings Dunstable and in his previous career in Architecture he was an Associate in a leading London Architectural practice