Why Would A Landlord Use A Letting Agent?
There are a number of reasons why many landlords choose to utilise the services of a letting agent rather than deal with everything themselves as it can be very time consuming especially if the landlord has a full time job which they often do.
For instance: –
Landlords regularly use letting agents to market their properties to find suitable tenants rather than say advertise the property in the local press themselves. No doubt using a letting agent in this way can often result in a tenant being found more quickly resulting in rental income being generated more rapidly.
Having identified a potential tenant, the letting agent could then deal with the administration including taking up references on the potential tenant and sorting out the tenancy agreement prior to the new tenant occupying the property.
A letting agent could also arrange to manage things by, for instance, visiting the property on a regular basis to make sure that it is being well maintained and carrying out an inventory of the contents, fixtures and fittings. This is a particularly important service as, unfortunately, there are some tenants who do not look after the property and its contents as they should do to a satisfactory standard.
If the tenant has a problem of some kind to do with the property then, in the first instance, the tenant can contact the letting agent. If maintenance work is required, such as a repair to the plumbing, then a tradesperson could be brought in by the letting agent to complete the remedial work.
A letting agent can advice the landlord about any legal, regulatory or legislation requirements in respect of letting out a property such as the taking of deposits in the correct manner and dealing with tenants who are behind with their rent including court action leading to repossession proceedings.
The above are just some of the reasons why a landlord may wish to use the services of a letting agent.