Why should landlords use a letting agent?
Do you want to remove the headache of having to manage your own property portfolio so you can free up time to concentrate on the things that matter most to you? If the answer to that question is yes, then using a letting agent can help!
You may have heard letting agent horror stories kicking about, but in this post we uncover the benefits of using a letting agent and how to find a decent one to work with.
What will a good agent do for you?
The below list details everything you can expect a good agent to carry out on your behalf:
- Find you a quality tenant, vetting them and making sure they’re right for your property
- Maximise the rental income from your property
- Work hard to keep any void periods down to a minimum using all forms of advertising
- Detail an inventory of the property and furniture, recording their condition
- Take proper records of meter readings, internet records etc.
- Inform you of current property standards and requirements
- Ensure everything is done that can be done to collect the rents
- Deal with any eviction notices (if required)
- Ensure that when the tenant moves out, every effort is made to recover keys and acquire the tenants forwarding address
- Account to their landlords monthly, in a prompt manner, and with an easy to understand statement system
- Deal with any accounting or property enquiries from the authorities
- Manage any required repairs or improvements
- Assist you with expanding, or reducing your portfolio
- Keep you informed of all new and proposed legislation changes
How do you find a good agent?
Letting agents are largely unregulated, so even though they may be affiliated to an association like the NLA or the RLA, it doesn’t necessarily mean that they are viable for you. Although you would hope that it should mean that they are keen to do things right!
The best way to choose an letting agent is by speaking to other landlords and getting their first-hand references.
Do some digging online and read reviews - really do your research and start to put together a short list of potential agents.
What would a good agent charge?
Look for an agent that charges no more than 10% +VAT.
Here at Ultra Lets, we charge a fixed fee of £37 a month + VAT. We don’t believe in charging a percentage as the costs involved in managing a one bedroomed flat as opposed to a 4 bedroom detached house are the same so we feel it’s fair to charge the same price for our service.
Why choose Ultra Lets?
We could tell you about all the benefits of using Ultra Lets - our transparent pricing, the fact we’re rated 5 star by our customers and that we pride ourselves on great customer service - but instead, here are some testimonials from landlords that we work with:
Landlord, Mark Rozenbroek:
“I’ve worked with several agents in Hull over the years and I must say my occupancy levels for our properties have never been so high as they are today with Ultra Lets. They don’t charge us for finding tenants, we just pay them a straightforward management fee on properties that are let.”
Landlord, Ron Taylor
“Ultra Lets deal with all my tenants day to day and resolve any issues tenants may have. This is easier for the tenant as they have one point of contact. Ultra Lets keep me informed and advise me on the best course of action required to rectify any problems. They have been quick at finding tenants for all my properties over the years which keeps my vacant times down and my income up.”
Landlord, Alan Neal:
“I got into property about 4 years ago mainly to supplement my pension. I’ve got 2 properties, both managed by Ultra Lets currently but previously one of them was managed by another agency. I had a few problems with the other agency, it came to a head when the tenant contacted me saying they weren’t happy with the agency either. They wanted to move so we came to the agreement that we’d move the letting to Ultra Lets.
Ultra Lets are absolutely spot on vetting the tenants, no issues paying on time.”
If you’d like to talk to us about managing your rental properties, please get in touch today by calling 01482 562 562 or emailing firstname.lastname@example.org
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