Private landlord vs letting agent
When deciding whether you’re going to use a letting agent as a tenant or a landlord, it shouldn’t be a difficult decision.
It’s estimated that only 20% of all homes in England are privately rented.* This shows how many tenants and landlords choose to use and work with letting agents. We are here to demonstrate the countless advantages you would receive when using a letting agent as a landlord or a tenant.
Benefits of using a letting agent as a landlord
When becoming a landlord, you can face a lot of responsibilities and challenges. You are responsible for the maintenance and upkeep of all your properties, inside and out. These responsibilities then begin to consume all your free time, and being a landlord can become more of a burden than you thought.
Hiring a letting agent would create less responsibility for you as a landlord, meaning you’re not required to manage your tenants. This will cause fewer problems and allow you to maintain a healthy relationship with your tenants, as the letting agent will act as the middleman.
Fast turnover between tenants
When trying to discover new tenants for a property, it can be very difficult for a private landlord. Tenants usually go to letting agents to find rental properties on the market. So, to prevent your property from having vacant spaces between tenants, using a letting agent can guarantee more exposure to the public, ensuring your property is filled quickly.
Required regulations
Letting agents are great at establishing a checklist for letting out your property, ensuring you meet all the required regulations and specifications.
These include:
Gas safety certificate
Electrical safety certificate
Energy performance certificate
Proof of tenancy deposit protection
Fire safety measures
HMO licence
Landlord insurance
After your property has been filled with new tenants, you may think that your letting agent is no longer necessary, but this is where they can become the most beneficial. Letting agents look after your tenants and remaining the middleman keeps the relationship professional.
The only downfall of a letting agent is that they undoubtedly charge a monthly fee. The typical cost can be up to 15% of the total monthly rent.
Benefits of using a letting agent as a tenant
When trying to discover and rent a property in the UK, it can sometimes become one of the most complicated situations, especially if you rent through an independent landlord. We are here to ensure you recognise the simplicity of renting through a letting agent instead of an independent landlord.
Renting through a letting agent will ensure you are choosing the property you desire to rent and not choosing a property because of the better landlord. It allows an element of professionalism in renting a property as they maintain a professional relationship throughout the process.
Stress-free renting
Renting through a letting agent guarantees you will receive high standards and conditions for the rental property, as the letting agent wants to keep a positive reputation within the rental sector. The letting agent also ensures that everything is legally in order. Allowing you to rent stress-free. Agents in England are not required to be registered, so we always recommend looking for agents who are part of NALS (the national approved letting scheme). Agents being registered with the NALS ensures that they are part of the client money protection scheme, ensuring your deposit and monthly rent payments are kept safe and recorded.
We highly recommend using a letting agent as a landlord and a tenant. It simplifies both ends of the relationship and creates a smoother process for both.
Whether you’re a tenant or a landlord get in touch with us today and discover how to rent the right way
Parkers Properties*
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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