Being a landlord is great for generating income, but it can cause a lot of stress! Below are the services property & letting agents provide to make your life easier, as well as tips to ensure you pay suitable property & letting agent fees.
An agent can take on a subset of activities, or you could select full management of your property where you are completely hands off. Rent Round offers a comprehensive search facility to select the services you need, from reliable & reputable agents
1. Guaranteed rent
Agents will manage all tasks related to being a landlord. The agent becomes your tenant who sub lets the property to others.
A massive benefit is 52 weeks of rent a year is guaranteed, even if the property is empty!
You don’t collect rent, screen tenants, draw up rental agreements or maintain the property. You get the property back in the same condition it was given to the property agent (taking into account wear and tear).
2. Rent collection & deposit safeguarding
Rent collection & holding deposits is tedious & requires tracking and record keeping. A property agent can do this on your behalf.
This also removes the need for you to have the awkward conversations with tenants when there are late payments, which your property agent will cover off.
Funds are usually collected by card or electronic payments and then send to your bank account.
3. Property inspections & certification
Property inspections are vital for landlords & required by law. If not done properly, insurances could be void & you could be subject to legal proceedings.
Inspections need to happen before the property is rented out and also take place throughout the tenancy agreement.
Types of inspections include: gas & electrics, plumbing, heating, structural security, damp & leaks and smoke & CO2.
Property agents know the full list of inspections and have the ability to conduct them on your behalf.
4. Finding and screening Tenants
The bread and butter of a property agent is finding you tenants. They know the best marketing routes, handle online questions/property viewings and rent valuations
As they manage multiple properties, they also get better cost rates from online advertising agencies.
The biggest stress to landlords is bad tenants; those that do not pay rent on time, damage your property and the most worrying of all, those that do not leave.
Without experience in the complex tenant screening process, you might end up on the receiving end of the much dreaded “tenant from hell”
Our property agents have tried and tested screening processes ensuring your tenants will:
- Stay long term
- Pay rent on time
- Treat your property as a home
5. Maintenance and Repairs
As a landlord, you dread being woken up in the middle of the night because your property has a burst pipe, or your weekend ruined because you have to find a plumber to fix a broken boiler.
Property cover general maintenance repair work and can be the first port of call for your tenant when emergencies occur.
When damages & faults occur that pose a danger, issues must be fixed immediately. If you don’t & your tenant complains to the council, you may face prosecution and/or fines.
6. Legal Services & Disputes
The final aspect of services property agents provide is legal documentation. Rent Round property agents already have all legal document templates in place to easily adapted to your property. This ensures you are covered from all possible dispute angles & there are no delays in getting your property rented due to legal documentation.
Alternatives of getting your own solicitors to draw up bespoke agreements will take longer & will be far more costly.
Property agents also assist with legal disputes relating to deposits, unpaid rent, property damage etc.
Property & Letting Agent Fees
All in all there are a range of benefits of a property agents. You can get a subset of services or hand over full management of your property.
Now comes probably the most important part of selecting your property or letting agent, fees!
Our platform enables you to simply enter your postcode and the services you want, we then provide you the best property agents in your area, based on rating, fees and types of properties they manage. Our service is completely free and we never charge you.