Renting out a property can be an additional source of income. However, it also comes with its fair share of challenges and responsibilities. Using letting agents can significantly ease this process. Doing so can bring both expertise and peace of mind to property owners. At Bell Estate Agents, we want to do everything we can to help you navigate the lettings market with ease. In this article we discuss why you should consider using a letting agent when renting out your property.
Expertise – Agents have market knowledge
Letting agents have in-depth knowledge of the local market and know what potential renters are looking for. They understand the current rental price trends and so ensure that your property is competitively priced. This helps you to maximise your rental income and also minimise periods of time your property stands vacant. Agents are up-to-date with the latest property regulations and legal requirements. They can therefore help you with the legalities of tenancy agreements and safety regulations.
Effective marketing
Letting agents have access to a network of potential renters. This can significantly increase your property’s visibility. Agents like ourselves know how to market your property effectively, ensuring it reaches the right audience.
Tenant screening
Letting agents conduct thorough background checks on potential tenants, including credit checks, employment verification, and previous landlord references. This reduces the risk of rent defaults and problematic tenants.
Time-saving benefits
Managing a rental property can be time-consuming. Letting agents help by handling any queries and issues from tenants. This frees up your time so that you can get on with your other responsibilities including life, jobs, families, etc. From routine inspections to emergency repairs, letting agents coordinate all aspects of property maintenance. They are on-hand so you don’t have to be, to ensure that any issues are resolved quickly and efficiently.
Financial efficiency
Letting agents handle the financial aspects of renting out your property, including collecting rent. This saves you the hassle of chasing late payments. Our team at Bell Estate Agents will also manage all financial records related to your rental property. This ensures you have the correct documentation for tax purposes and any legal issues.
Personal benefits
By managing day-to-day operations and tenant interactions, letting agents take the stress out of property management. This can be particularly beneficial for landlords who have other jobs, live a distance from the rental property, or prefer not to deal directly with tenants. Using a letting agent provides flexibility to landlords who may not want to deal with the daily demands of property management. This is ideal for those who travel frequently or have multiple rental properties without time to manage them all themselves.
What Bell Estate agents offers our landlords
Our team are experts in letting – with us you’ll partner with trained, knowledgeable staff. We will keep you up-to-date on property and legislation updates, and have a panel of approved contractors for your convenience. We have an extensive list of waiting tenants and advertise your property on both Zoopla and Rightmove. As a North-East based estate agents, we have outstanding local knowledge we’re happy to share with our landlords. We also offer a full range of services including a fully-managed service.
Our fully-managed landlord service
For a monthly management fee, we will register your tenants’ deposits and take a property inventory. We’ll also undertake tenancy inspection, up to two visits per 12 months. The administration required for tax returns is also included in the fully-managed service. Should any major work be required, we’ll use our list of approved contractors to obtain estimates for the work.
At Bell Estate Agents, we have designed our services to cater to your specific needs. Whether you’re seeking assistance with managing your entire portfolio or finding a tenant for a single property, we have a range of packages available to you. Contact us today to learn more about how we can help you succeed in the rental market.
