Do I Need A Letting Agent?
The question is..........can you navigate the increasingly complex Private Rented Sector without one?
In the years since we started helping landlords in 1996 the PRS has changed almost beyond recognition as it continues to do year on year. Only by having a partnership with a professional inside the industry can you really ensure that you are kept up to date with legislation, best practice and, crucially, remaining competitive and getting the most from your property
It's very easy to think that you know better and that because you have done something for a number of years, you are as skilled as those who do it for thousands of people day in and day out. Such overconfidence can lead to unexpected events that you think you have accounted for!
Here are a few testers;
- Do you know how, or when, to serve a notice to quit and do you know the reasons why such a notice may be ineffective or on what grounds it may be thrown out?
- Do you understand the Fitness for Human Habitation Act?
- What is the procedure if a tenant falls into arrears?
- What yield should you be seeking on your investment?
- When referencing a new prospective tenant, can you credit check them, what should you look out for and are you aware of how to comply with the Immigration Act?
- Who is liable for what in terms of repairs?
- How do you create a tenancy agreement which incorporates all of your rights and responsibilities and also complies with the Unfair Terms In Consumer Contracts regulations?
- Are you legally required to comply with GDPR?
These are a small number of questions that you need to ask yourself before deciding whether you need to partner with a professionally recognised letting specialist to make sure you are not only protected but also getting the best out of your investment
It goes without saying that we feel our part in the relationship between landlord and tenant is more important then ever before and the facts speak for themselves. There are more landlords getting in trouble with their tenants now than there ever have been and more of them are acting alone and without protection. The court process is a minefield and there are companies making money out of the misery that the process causes