We regularly come across landlords, particularly new landlords, who chose the Let Only service thinking that they will save money and that there can’t be that much involved in the day to day management of a rental property!
However they often quickly realise that chasing rents, meeting contractors, carrying out inspections and answering calls from tenants at all hours of the day & night, can be extremely time consuming and if they’ve got several properties, managing them and their tenants can very easily turn into a full-time job and then what do they do when they’re ill or want to take a holiday?
Managing the day to day issues above is only one reason to go for Fully Managed, but by far the biggest reason is protection from the ever changing industry legislation. There are now more than 130 pieces of legislation that you, as a landlord, need to follow in order to let your property legally. These are being changed and added to all the time, and keeping on top of these changes is absolutely essential.
If you’re a self-managing landlord you’re taking on the full legal responsibility for all the compliance, therefore you really need to ask yourself do I have the time to make sure I can keep up to date with all the industry legislation? That means knowing when new proposals are out for consultation and understanding how this will affect your Buy to Let property. There is a huge amount for you to keep up to date with and if you miss something and fall foul of the law, it could result in fines and prosecution.
By far the best way to make sure your properties are always let legally is to put yourself in the hands of professionals. As self-regulated agents, it’s our business to know about national and local housing policy changes and we have the infrastructure in place to stay informed and make changes as and when we need to.
When you’re choosing an agent, make sure they have a good reputation, check online for reviews and make sure they are a member of either NALS or ARLA, the Safe Agent Scheme and The Property Redress Scheme. That means they’ll be trained and kept up to date on legislation, properly insured and able to act on your behalf in the case of any tenant disputes.
For more information on our award winning Let & Fully Managed Service call us today on 01772 654624 or 01253 708834 or enquire online