Whether you're moving to a new area and renting out your home, own more than one home that you rent out and manage, or just don't have the time to manage a rental property, a letting agent could be the answer to your owner's problems. So we've outlined everything you need to know in this guide, including what to look for when choosing Rental Property Agencies. Rental property agents are involved in the day-to-day management of properties, or portfolios of properties, on behalf of landlords.
By using Leonard’s London as their rental property agent, homeowners can delegate many of the responsibilities that come with their rental property to a qualified professional. Our Letting agents offer varying levels of service, so depending on your level of involvement in property management, there will be the right level of service for you.
By law, they are required to show service charges at the branch and on their website, so compare costs across multiple agencies. We have a track record of providing rental properties in London. So give us a call today if you need a professional real estate agent in London.
What do our Letting Agency experts work with?
ü Find tenants
It's usually a one-time expense, calculated on about a month's rent. This is the basic level of service where the rental agent will find you a suitable tenant. This often involves taking professional photos, designing a floor plan, and advertising your property where it will be most known. We can also arrange and attend viewings, perform reference and tenancy checks, draft tenancy agreements and create an inventory. With our Letting Agencies Croydon tenant has been found and a move-in date has been set, the rest is up to you.
ü Collect rent
In some cases, collecting rent may be part of a tenant locating service. Our rental agency will collect and manage legal requirements related to deposit protection and rent collection from tenants. They will also track down rent arrears, send you to notice and be available to advise you if the tenant continues to not pay rent. Some agents even offer insurance to protect your income in the event of a rent debt.
ü Fully managed
A larger percentage of the monthly rent is around 15-20 percent. The rental agent has full control over all aspects of your property's tenancy, including the services provided in locating tenants and collecting rent. They will correspond with the tenant during the rental period; organize maintenance, inventory, arrivals, departures, and any deposit disputes.
Which letting agent service should you use?
The service you use may depend entirely on the number of properties you rent, their location, and your involvement as a landlord. If you only rent one or two properties and can manage the property yourself, you need help finding tenants from Letting Agencies Croydon. If you don't want to mess with your rent payments, collecting rent is an option you can consider. Our fully managed service is ideal when the property is far from where you live or you are renting multiple properties.
The Bottom Line
The services of Rental Property Agencies may be necessary for homeowners who have properties far away, have little experience in the area, or have a large portfolio to manage. Owners may want to cut costs and go it alone. But for those who are not fully aware of what is involved, how long it takes, and the responsibility involved, my advice is to seek professional help. In the long run, it will be worth it, especially if you use a reputable agent to back your rental investment.