Managing your Cheltenham rental property can be a demanding job, especially if you live some way away or if you have a day job or busy family life. Choosing a fully-managed letting service can take some or all of the hassle out of being a landlord so if you’re finding it hard to keep up with your portfolio, you might want to consider it.
What is a fully-managed letting service?
A fully-managed letting service involves your estate or letting agent managing your rental property for you. The exact details may differ between agencies, but they’re broadly the same, although you can often ask for some bespoke features.
Do you need a fully-managed letting service?
Probably! Opting for fully managed gives you lots of expertise and advantages, such as:
In-depth local market knowledge
Good letting agents know their market inside and out; right down to individual postcodes! This insight helps them to get the best rental rates for you, as well as the best tenants and contractors for when you need repairs or redecoration. All of this adds up to the best returns possible.
You’ll get excellent tenant services
Letting agents always have a list of tenants who are looking for a new place to live. They can thoroughly vet them (if they’re new to the agency) and perform credit checks, collect references and verify their employment status, making sure you get the best tenants and fewer void periods.
You’ll have virtually no management hassle
A good agent will, as part of your fully-managed service, conduct routine checks, carry our repairs and maintain the property really well. This sort of proactive management catches small problems early on and fixes them, saving you time, money and tenants.
Up-to-date knowledge of UK property legislation
UK landlords have to stay abreast of almost 200 pieces of legislation and safety regulations – gas safety, deposit protection and EPC legislation, as well as the latest news on the Renters Reform Bill. Your letting agent will make sure you’re compliant with all the latest requirements and will also keep you in the loop.
Your service might include leading-edge online tools
Many letting agents now offer online reporting for repairs and maintenance, which means your tenants can let your agent know about a problem 24/7 and your agent can get to it as soon as possible. All this with minimal involvement from you, the landlord.
