In essence, a fully managed letting service simplifies your life as a landlord. Simply buy a property, then let your letting agent take care of everything else while you take a step back, enjoy your life, and get a good return on your property investment! Like so much in life, there is more to being a landlord than meets the eye.
So where does a fully managed letting service start?
Making sure your property is fully compliant with legislation is in itself a benefit of a managed service. It’s imperative to get this right and an agency will save you from constantly keeping an eye on the latest changes, alongside finding tenants and the other elements that go into renting a property.
Advertising your property
This is important if you want the best possible rental income for your property. Getting the advertisement right with an established agent, who will most likely have potential tenants ready and waiting, will ensure the property is showcased at its best.
Taking care of tenant viewings
Once your property is ready to be viewed, your agent will be in charge of arranging viewings and showing potential tenants your property.
Finding your tenants and getting references
With the shortage of rental properties on the market, there will likely be plenty of potential applicants. You should protect your investment by completing references and checks.
Organising inventory
Even if you let your property unfurnished, you will need an inventory of all items in the property that belong to it, and as such, you do not want to go missing or get damaged.
The preparation of tenancy agreements and documents
You will need a contract outlining the terms of your rental agreement. This protects you as well as your tenant and is essential to avoiding disputes.
The registration of your tenant’s deposit
There are legal requirements you have to follow in regards to registering and holding your tenant’s deposit.
Rent collection
This is essential because you are letting your property in order to receive rent, and having a reliable collection service offers great peace of mind.
Maintenance and property inspections
This can be both time-consuming and costly. Sometimes having recommended resources at your fingertips can prevent simple issues from becoming expensive repairs.
Arranging notices and finding new tenants
The time will come when your tenants may want to move on or you may want to change the rent and your lettings agent can handle everything from notices to new tenants.
Disputes and final inspections
This can get complicated, and having all the necessary procedures in place can help prevent unwarranted disputes from occurring in the first place.
Get in touch today to see how we can manage the above and all aspects of your buy-to-let property; to help you make the most of your investment.
