While the idea of earning income as a landlord is appealing, do you know what a landlord has to do for their tenants? It may be that hiring a professional to help you out is the best idea. In this post, we look at the key benefits of using a letting agent.
A better standard of tenants
The quality of the tenant has a huge impact on the role of a landlord, so you should be striving to find the best tenant possible. If you have no experience in vetting tenants, or you don’t know where to start, you’ll find that this is a service that is best left to the experts.
Experienced letting agents know the right demographic of tenant, they have experiencing in dealing with tenants, they have experience in vetting tenants and they also have access to software with the means to run checks on potential tenants. By using a letting agent, you significantly increase the chances of finding a good tenant.
If you want to know why this is important, think about the benefits that come with better tenants. These include:
- Rent paid on time and in full every month.
- The same tenant staying in the property for longer.
- Less wear and tear being placed on the property and contents.
- Fewer problems in general.
These are the key benefits in having a reliable and trustworthy tenant, as opposed to a troublesome one. These benefits alone are often all the encouragement a landlord needs to utilise the services of a reputable agent.
You don’t have to worry about the legal aspects of being a landlord
New landlords, or those considering becoming one as a way to earn income, need to familiarise themselves with all of the legal requirements and obligations associated with the role. If you don’t possess the knowledge, you can carry out some research on the wonderful world wide web.
Being a landlord exposes you to numerous rules and regulations. If you fail to meet these obligations, you may find yourself facing legal action. This can be extremely costly, time-consuming and draining, so it is best to seek the assistance of professionals who will take care of these matters and limit your exposure.
A landlord also has to ensure the property is safe, and has all of the safety certifications expected of a property that is being let. There is also a legal requirement for the landlord to place the tenants deposit into a secure scheme, providing details to the tenant of where the deposit is secured within 30 days.
As of 2015/16, there is also a legal requirement for UK landlords to verify their tenant has the right to remain in the UK. A failure to do so could result in the landlord facing a financial penalty. With so many potential risks, wouldn’t you want the support of an experiences letting agent that knows how to navigate this mine field?
At Spencer Harvey, we serve Stockport and Greater Manchester with pride and we have considerable experience and expertise in this field. If you want peace of mind when it comes to acting as landlord, call on our services or pop in for a chat.
For all your property needs, please contact Spencer Harvey Estate and Letting Agents on:
0161 480 8888
https://www.spencerharvey.co.uk