Why Landlords in Leicester Should Use Regulated Managing Agents with Accessible Offices and Staff
Finding a good tenant and managing the tenancy effectively are essential parts of being a professional landlord.
Why should landlords and property investors use a managing agent to manage a property?
Many landlords are perfectly competent to let and manage their property with the minimum of assistance. The purpose of a letting agent is to provide the professional assistance to landlords to ensure that the rent return for their property is maximised. If the landlord has a substantial portfolio or even just one property but also works, time can be a constraint. Letting agents are a valuable resource. They can deal with checking rental payments, renewing tenancies, visiting the property and dealing with any maintenance problems or issues that may arise directly with the tenant. This is particularly useful if the landlord is living out of the area or even abroad, as a local, accessible contact is imperative.
Landlords need to fulfill their obligations to tenants. Many landlords don’t live locally but need to act without delay if something goes wrong, such as stopping leaks and carrying out other emergency repairs. Even for landlords who live locally it can still be difficult to respond quickly enough.
What should landlords expect from a good letting agent?
You should also use an agent that is a member of a regulatory body that provides regulation of their members, ensuring the company members are properly qualified and providing client money protection.
ARLA Propertymark also require their members to be fully insured and to be part of the government Property Ombudsman Scheme.
The regulated agent will have a full understanding of critical matters such as the deposit schemes and regulations, statutory landlord obligations and tenancy law and enforcement procedures.Landlords should also expect an agent that offers excellent customer service and provides exceptional communication to ensure a seamless experience. This also relies on appropriate knowledge, qualifications and access to resources. Agents must be flexible and tailor services to their clients’ needs to ensure that all landlords are getting the best possible service and resources. The agent is the eyes and ears of the landlord and should be looking after their investment.
How can agents help landlords comply with the ever-increasing amount of legislation for the sector?
Butlin Property Services Leicester’s leading independent letting agent keep up to date with all changes in regulation and good practice advising landlords and protecting them from non-compliance.