How to Save Money by Using a Letting Agent
Sun 22 Sep 2019
It Could Be More Than You Think!
How much do you value your time? We all often say we’re too busy to do this, that or the other. Sometimes we have to choose between work and pleasure, and all too often, work commitments win. So, if we really do value our time, and want to spend it wisely, how can you save both time and money by using a Letting Agent to manage your rental property?
Well, first of all, it is a good idea to look at some of the time-consuming tasks that a letting agent will do for you, which is by no means an exhaustive list!
- Conducting property viewings at flexible times throughout the day and the weekend to suit your prospective tenants;
- Performing accurate referencing on tenants to ensure only financially viable tenants are able to rent your property;
- Dealing with deposit registration in line with current legislation;
- Eliminate any unnecessary fines associated with lack of compliance to lettings legislation;
- Minimising void periods by proactively marketing on big website portals such as Rightmove and Zoopla;
- Putting time into sourcing quotes with reputable contractors to keep the property well maintained.
We know that often, landlords choose to let their properties themselves without an agent, and often this is down to the implied associated costs. However, there is a misunderstanding about the value an agent can bring in letting and managing properties for landlords.
If you paid yourself a comparative hourly rate to your full-time job, how much money would you need to pay yourself to undertake the work you do by self-managing a rental property? A survey by Endsleigh found that landlords can save an average of £1910 a year by using a letting agent to undertake the work for them, instead of by managing it themselves.
What Other Benefits Does Using A Letting Agent Have?
A letting agent has a large applicant base, and will of course be very proactive in finding you the right tenant for your home. There’s no denying the fact that agents will be able to pull on a variety of resources and large knowledge bases within their teams to deal with the financial and legal matters required to let a property. This will inevitably save you both time and money throughout the whole process.
Combine these factors with expert local knowledge and awesome customer service, you might be surprised at how much money you could save, but, perhaps most importantly, how much of your valuable time you will get back by using a letting agent.
To find out how Oulsnam Lettings can save you money by letting your property then please contact us on 0121 445 7410 or email us here.