The benefits of having your property managed by professionals.
Whether you are looking to rent out your perfectly located apartment, letting your own home, or entering the buy-to-let market, you are in for a whirlwind of legal responsibilities.
The various tasks and responsibilities involved in the letting of a property can easily overwhelm new landlords. Safety legislation, legal requirements and tenant vetting can be complex and are ever changing, so whilst the income from the rental property is appealing, it comes with a lot of work. That is why it is recommended to work with an experienced and specialist letting and property management company to assist with all letting needs.
Using an experienced agent that you can trust will not only take the stress out of your hands, but also ensures that you are complying with the legal aspects of letting the property. That, if ignored, could incur substantial fines and issues and turn your investment property into an expensive mistake.
We have listed out some of the main benefits below:
Getting the right tenants
The success of an investment property depends on finding the right tenants, people who will treat your property with respect, pay rent on time and hopefully live in your property for a longer duration. Finding and checking the backgrounds of tenants must be completed thoroughly and before this referencing process is even started, your agent should provide you with comprehensive information on any potentially interested party in order to help you to make the right decision.
Handling all the legal formalities
Protecting yourself legally requires having the right official documents in place. You are also expected to remain within the law in terms of health and safety and will need to undertake specific checks on your tenants, under the Right to Rent Act. Handling all legal formalities should be included in an any agents service, but choosing the most experienced and highly qualified agent could be the difference between mistakes being made, and having full peace of mind with no worry about unintentionally breaking the law and being subject to penalties.
Reduce vacant periods
Every landlord has concerns about their property standing vacant for an extended period. Working with a good letting agent will help you to find the right tenants and by having the property efficiently managed, this will help to ensure that they stay for as long as possible.
Peace of Mind
Managing a rental property can be tricky, especially if you don’t live nearby. Even if you plan to make periodic inspections of the house, or check in to ensure your tenants are happy, it is difficult to keep up if you are not living close by. A good and proactive managing agent will take this stress out of the equation as they will take care of any emergencies, regularly inspect your property, look into the maintenance needs, check if tenants are happy, collect the rent and resolve tenant issues.
These are just some of the benefits of having your property managed by professionals.
If you are thinking of letting your property, we would love to help. Please contact us to find out more about out Gibson Honey's award winning services:-
Lettings@gibsonhoney.co.uk
01895 625999