Some landlords will manage their own properties to avoid letting agent fees altogether, however, in the next couple of months it will be more challenging and will turn to letting agents in order to help them guide them through the upcoming changes in legislation.
Landlords will need to be careful, they will need to check the estate agent suits them, and they will also need to be wise in their decision to check for add-on fees.
See below the upcoming changes;
What a letting agent should do for you?
Ensuring your property is up to current letting standards, ie; have you had a EICR carried out in the last 5 years? Is there a CO detector at the property?
Routine property inspections - to check your tenant is looking after your property and ensure there is no further problems moving down the line.
Letting agents will manage the majority of the landlord responsibilities, this saves you more of your precious time.
Lettings agents will have 3 different types; tenant-finds are the most hands on approach, the service will end once a suitable tenant has moved into the property. Tenant-find and rent collection; This service is halfway between a hands-on approach, letting agent service and full manage, everything from above but also including rent collection Bi-Monthly or Monthly. Full Management; The letting agent takes full responsibility for the day to day operations of the property. The landlord is only contacted during an issues, report back after inspections, contract renewal or the end of tenancy.
If you are thinking of taking on a letting agent or you would like to find out more, today!
