Investing in property is arguably the biggest investment you will ever make. But – the truth is – even if you have the best investment on paper, you’re not going to make any money until you find someone to live in your property who will pay you rent each month.
This may come as a surprise, but not all property investors are interested in being a landlord. Some relish that part of the job and have no hesitation in lining up potential tenants and managing everything off their own back. Whilst others would prefer it if they didn’t have to deal with maintenance issues and tricky tenants. Then, of course, some people wouldn’t mind taking care of their rental themselves, only they doubt their ability to get it right.
If you’re struggling to find a suitable tenant for your property, you don’t have much spare time, or you don’t want anything to do with the management side of things, then using letting agents can be really helpful. You never have to worry about the let and it creates a professional distance between you and the tenant. This means you won’t have to deal with dreaded rent arrears and deposit disputes either. But it will come at a cost…
So, which way do you turn?
Easylet Residential is one of the best letting agents in Warrington and, to help you make your mind up, here we take a closer look at the different types of services they provide:
Let only
With a ‘let only’ service, the letting agent will:
- Market the property on websites like Rightmove, display your property in their office window and ask for your permission to place ‘To Let’ boards outside your property.
- Arrange viewings on your behalf and accompany potential tenants. An agent will also feedback on how the viewing went – keeping you in the loop at all times.
- Collect references, run credit checks and employment checks before drawing up tenancy agreements and inventories.
- Coordinate the big move and ensure tenants have all the required paperwork they need on the day (including a copy of the inventory and property information).
And once they have found someone to rent your property and they have moved them in, they will take a step back and leave you to manage your property in whatever way you see fit.
Although, they won’t see you struggle alone. They offer optional extras, such as deposit protection and cleaning, which you can pay for in addition to the let only service.
Full management
No two landlords are the same. Some have vast experience, whilst others not so much. If you would rather letting agents in Warrington (or anywhere else) took care of every aspect of your rental – allowing you to sit back and relax knowing that your investment is in safe hands – then it’s worth opting for a full management package.
Easylet provides a full ‘under one roof’ service for landlords. This includes all of the same services as ‘let only’, plus:
- Collecting monthly rent and deducting any agreed expenses/fees before forwarding the balance to your chosen account.
- If need be, the agents will chase up late payments on your behalf, saving you the trouble.
- Notifying the local council and energy suppliers of the new tenancy (including metre readings on the move-in date).
- Regular inspections of the property and updating you on its condition to ensure the tenant is keeping their side of the bargain.
- Responding to tenants’ requests promptly to keep them happy and arranging necessary maintenance and repairs.
- Handling rent increases, renewals, check-outs.
- And more!
Now you know a little bit about the different options available for landlords, you should have a better idea of whether or not you would prefer to self-manage or hand over the responsibility to a letting agent.
As a general rule of thumb, it all comes down to how much you value your time, what you enjoy and whether or not you back yourself to successfully complete the tasks that go hand-in-hand with being a landlord. But if you’re still unsure, you’re more than welcome to call Easylet on 01925 633 011 for expert advice.