You are a Landlord. Your main aim is to make money on your investment with the least amount of hassle. With all the potential changes in the rental sector, this may seem challenging.
If you can justify spending a little extra on a fully managed service with your chosen Agent, then this is the way forward. Your agent will take away the stress of dealing with Tenant issues and give you up-to-date advice on the industry and legislation.
Firstly, you do not want your Agent to let your property based on the Negotiators commission. The Negotiator looking after your property should want to find you the best Tenant(s) that suit your requirements. Unfortunately, some Agents want a quick let to earn themselves the most amount of money in the least amount of time which quite often results in a number of issues.
You must ask to receive an ‘offer’ stating all the details about your prospective Tenant(s). This includes who they are, what they do for work, where they currently live etc. It is so important to build a picture of who will be living in your property and whether you think the situation will be suitable. I cannot stress enough not to let your Agent choose for you. The Landlord needs to be involved at this stage.
A detailed Inventory is a must. Without this, if there are any disputes at the end of the Tenancy, you do not have evidence to back up the condition of your property prior to the Tenancy commencing. The Inventory should include written and photo evidence. This should then be signed at the Check-In appointment and the Tenant(s) would normally be allowed 48 hours to make any amendments.
It is also advisable to give your Agent a budget they can spend without having to contact you. That way, any minor issues can be easily resolved. This is what a managed service is all about, the Agent doing all the work while you enjoy the income.
For further advice about letting your property, call a member of the 2C today on: 0117 9745 477.