Managing your own rental property in Preston, Leyland, Chorley or the surrounding areas is certainly possible but there are many advantages to employing the services of a lettings agency.
There are more than 400 rules and regulations surrounding letting a property and if you are found to be in breach of them or non-compliant then you can be fined or even imprisoned.
Letting agents can ensure that a thorough inventory is conducted at the beginning of new tenancies. It is vital that this is done correctly as in the event of a dispute over any damage caused during the tenancy, this document will need to be submitted as evidence.
Your letting agent can organise and carry out regular inspections to ensure that your tenants are looking after your property correctly. Inspections are also a great opportunity for them to spot maintenance jobs that need doing before issues can grow.
Your property will inevitably need maintenance. Letting agents build relationships with local tradesmen over several years and so will know who to call for a good service at a good price.
Letting agents will often have a database filled with the details of potential tenants. In addition to that, they will have lots of experience using several different mediums to find tenants so can help you to find your first tenants fast. Their experience and expertise can also help you to avoid rental voids.
A letting agent can provide you with guidance and advice to ensure that your tenant’s deposit funds are protected correctly. Failure to do this can lead to you having to give your tenant back up to three times the amount that they paid you as a deposit. It can also affect your right to ask your tenant to leave when the tenancy ends if you did not protect their deposit funds correctly.
Having your property managed by a letting agent means that you have constant access to advice and up-to-date valuations. This means that you can ensure that your property is always being marketed for the correct amount, reducing rental voids and making sure that you aren’t leaving money on the table.
Referencing and financial checks
A letting agent can deal with referencing and running the appropriate financial checks on potential tenants.
Managing a property can be really time-consuming and, if you have more than one, the responsibility and legal obligations can quickly become overwhelming. Having your Preston, Leyland, Chorley, East Lancashire or surrounding areas portfolio managed by a letting agent can free up your time so that you can spend it doing the things that you love, while your letting agent looks after your tenant and your property.
If you would like to know how we can help you to manage your property in Preston, Leyland, Chorley or the surrounding areas please give us a call on 01772 284606 and speak to one of our specialists.
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