Haciendas A Parade of Homes
Most landlords and property owners hire a letting agent just for carrying out the initial let. A coventry lettings agent offers two levels of services to landlords, the first one being what is commonly referred to as 'let only' while the second one is offering full time management service. There are several other reasons why landlords employ letting agents to perform the initial let of their house.
Time is the main reason. After having a glimpse at what one has to go through in order to market a property, landlords would probably wonder if they are able to conduct the process by themselves. They lead quite a busy lifestyle, and finding time and resources to fully manage the letting of a house may mean giving up on some vital pursuits. Another related issue is inconvenience and the hassle factor. The fact is a landlord is always on call and has to respond to requests from potential tenants. Considering that most tenant have full time jobs, this means that the landlord has to be available on weekends and evenings. Dealing with people after a hard day at work is unpleasant for many.
Many prospective and novice landlords find the process of finding tenants and managing the letting quite daunting. This makes them prefer the comfort of specified advice fitting to their local rental property. By hiring a letting agent, the landlord gets personalized advice concerning the state of the local rental market and other specifics like whether the house requires a new kitchen or redecoration. This sort of feedback is invaluable to novice landlords beginning out on their letting venture.
All aspects of the marketing are normally handled by a letting agent. This is one less thing a property investor and landlord to worry about. A letting agent will know the best ways to advertise rental property and how much rent to charge. After all, the agents have a common interest with the property owner in getting the house let. However, landlord should bear in mind that it is not the agent who is bearing the costs of the property such as mortgage payments. Hence, sometimes landlords can be left with a feeling that the agents are not doing enough to market the property and secure a let. This is especially the case when there is an excess of rental properties within the market. In such a case, a letting agent is probably still letting property and earning a living, while the property owner's investment is going down the drain.
Some property owners are genuinely wary and suspicious of their tenants. Since they do not like dealing with tenants, they opt to employ a letting tenant as a way of avoiding direct contact with tenants. A merit of hiring the services of a letting agent is that he or she acts as a filter for less desirable tenancy applications. This is due to the fact that most letting agents either charge the potential tenant for making arrangements for the letting or as for a registration fee.