At Hirsch Estates, we believe a good letting agent offers short and long-term benefits for landlords. No matter how much experience you have as a landlord, or the returns you wish to receive, getting help from experts will help you achieve your goals sooner.
What does a letting agent do?
A letting agent undertakes all the services a landlord would have to carry out in managing their rental property, and caring for their tenant.
Letting agents provide an extensive range of services, and landlords can choose between one particular service, some services or a comprehensive service covering every aspect of being a landlord.
The most common breakdown of packages offered usually fall under these brackets:
- Tenant find and vetting service
- Rent collection service
- Fully managed service
What work does a letting agent cover?
Some of the most common services provided by letting agents for landlords include:
- Book/attend viewings
- Collecting/protecting deposits
- Finding tenants
- Inventory creation/deposit disputes
- Letting advice
- Negotiate contracts/agreements
- Property inspections
- Property maintenance/repairs
- Property preparation
- Referencing tenants
- Rent collection
Do all landlords need a letting agent?
There is a strong argument all landlords benefit from letting agent services, but some landlords should consider the use of a letting agent as an essential component of their business.
The following landlords should use an agent:
- New landlords
- Landlords who lack confidence
- Landlords who don’t want to deal with tenants personally
- Landlords who maximise their time, and who would rather have minimal involvement with their business
- Landlords who stay a considerable distance from their rental premises
What benefits do good letting agents deliver for landlords?
You might be surprised at the impact a good letting agent has on your ability to enjoy a profitable and manageable life as a landlord.
The work of a good agent begins long before the tenant moves in. Finding tenants and vetting them to ensure you select a reputable tenant is a crucial part of the service. If you pick a tenant who doesn’t pay their rent on time, or who fails to treat your property with respect, being a landlord is difficult.
A good agent increases your chances of connecting with suitable tenants. Once in place, the agent manages the landlord-tenant relationship, which makes it more likely the tenant will stay in place. All landlords should avoid void periods, and the cost or inconvenience of finding a new tenant. A good agent enhances your chances of retaining tenants, and this helps you to maintain consistent rental income.
Also, with an agent taking care of regulatory matters, you have fewer things to worry about. Landlords in England must comply with more than 160 regulations. Failing to comply with many of these rules result in fines, or even the ability to serve as a landlord.
With new regulations coming into effect, and existing regulations being updated, compliance is a full-time issue for many landlords. Rather than wasting time on this yourself, enlisting the services of a good agent, who stays up to date with these matters for a living, saves time and reduces your concerns.
If you would like to learn more about the benefits of using a good letting agent, please call Hirsch Estates on: 020 3002 0587 or email: This email address is being protected from spambots. You need JavaScript enabled to view it.
