Lots of landlords engage a letting agent to deal with their buy-to-let property as there’s a lot of work to do, as well as lots of laws and regulations to get to grips with and abide by.
Using an agent to let your property takes a lot of the work and worry out of your hands – although you’re still legally obliged to make sure the tenancy is safe and legal – allowing you to focus on other things. If you opt for a fully managed deal with your letting agent, then you can expect them to do the following for you.
Perform tenant checks
Your letting agent will check and vet any prospective tenants to make sure they’re suitable for your property and that they’re low-risk and, crucially, able to pay the rent. Letting agents develop a “feel” for tenants over time and this can help you to feel confident about signing tenancy agreements with them.
Perform property checks and ensure you have all the right documents
Your agent will also keep track of your gas and electrical safety checks and make sure they’re carried out when they should be. Another benefit of using an agent for this is that they’ll be able to find competitive rates from trusted contractors.
Once you have all the certification and your EPC, the agent will pass on these documents to your tenants.
As well as your certification, your agent will also make sure that you have all the right licences and registrations. All four nations in the UK have different rules and regulations for rentals and multi-occupancy can be especially tricky.
Longer tenancies often involve changes to the agreement or the addition of new clauses, so your agent will make sure everything’s legal and transparent to all parties involved.
Your agent will collect your rent
Your rent, after all, is the main reason for your tenancy, so this is probably the most important function! You’ll get the balance of the rent minus the agent’s commission and your agent will also deal with the deposit and any deductions that need to be made once the tenancy ends. In the event of late or non-payment, your letting agency should handle matters for you, too.
Conduct inspections and carry out maintenance
A letting agent makes sure that your property meets all the necessary legal standards of condition at the start of each tenancy and that it stays up to standard throughout by making regular inspections. If there are any repairs to be done, your agent will arrange for them to be carried out, unless you want to do them.
Communicating with tenants
If there’s an issue or problem at the rental property, then you as landlord have a legal duty to respond and solve the issue within a reasonable period of time. Your letting agent can communicate with the tenants and bring in contractors to fix the problems rapidly and cost-effectively for you.
