How Letting Agencies Can Ensure Your Property Is Rented Legally
Most of us are far too busy to fill all of our roles
, both familial and professional, in a single day. For landlords with no other professional obligations, the process of working directly with tenants to effectively manage their property is less draining. For the part time real estate enthusiast, with another career or a landlord with multiple properties, however, bringing in letting agencies can be the answer to the stress involved with property management.Without understanding the role of letting agencies it's impossible to determine whether or not you would benefit from working with one. The letting agent links the landlord to their tenant. For the landlord letting agencies are a buffer between themselves and the aggravations of property management.
The letting agent acts as an official representative of the landlord in most issues pertaining to the property to let. Your letting agent will be the person who prepares the property and arranges for a safety inspection and any repairs before your tenants move in. Since they are such a significant part of property management it's important for property owners to choose one that is both experienced and trustworthy.
The letting agent will be the one to advertise the vacancy when all the necessary preparations have been made. The myriad tasks involved in locating a suitable tenant are among the more important aspects of the letting agent's job.
When the tenant moves in the letting agent will be the one responsible for their deposit and to prepare an inventory. The letting agent negotiates the terms of the lease, collects rent from the tenant and mails a cheque to the landlord each month (less commission and expenses). Finally, your agent will be the one to make regular inspection visits, see to repairs and maintenance, handle complaints and arrange for a final inspection when the tenant is no longer in residence.
Now that you know who letting agencies are, the benefits of working with them should be obvious. With the letting agent overseeing the details the landlord is free to pursue another career, purchase more property or just sit back, relax and enjoy the benefits of being a property owner.
The legal requirements for landlords are changing every year. Keeping up with all the legislation can be a daunting task, especially as the penalties for mis-compliance can be severe. It makes sense to let the Letting Agencies, who are the professionals in their field, to take on the legal burdens and ensure compliance of your house, flat or apartment in every area.
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