Landlords forgoing letting agent services to save money
An experienced agent claims that forgoing letting agent services to save money is a false economy for landlords.
In a guest article for LAT’s sister website, Landlord Today, Jill Griffiths, director of residential lettings for Andrew Granger & Co, explains why letting agents remain a solid investment for landlords.
She cites the raft of new rental sector regulations as a key reason for landlords to work with an agent.
“With ever stricter guidelines and fines in place, whether you are renting out one property as a retirement investment, or a whole portfolio, landlords need to ensure that they are fully compliant,” she writes.
Griffiths identifies the incoming Tenant Fees Bill and the recently-introduced Minimum Energy Efficiency Standards as just two of the measures which will increase the burden on landlords.
“Reputable agents have to keep up to date with changes in legislation and undergo training and examinations to ensure they have the right knowledge to advise landlords on a whole range of issues from health and safety to investing in the right BTL property,” she continues.
Griffiths, who has over 20 years of experience in the rental industry, adds that agents’ local market knowledge and existing tenant databases can help to ensure higher occupancy rates than the DIY-landlord approach.
“Of course, as a property professional you’d expect me to advise using a letting agent but ultimately, it’s a case of landlords deciding how they want to manage their properties.”
“For those who want to ensure their assets are well managed and protected, a good agency is well worth the investment,” she concludes.