Most people who invest in a house to let as a house share like the idea of making some income off their investment but do not want to be involved in the day to day management of the property. It can be a full-time job. That’s where a letting agency can help out. A property management agency will put you at ease regarding your property, your tenants and the proper management of it all.
They can help find suitable tenants and do the appropriate checks needed to be carried out. This can be time consuming and costly for a single landlord. Half the battle of letting out a HMO is finding the right tenants. Leave that to a letting agency as they have the experience. They also have the inside scoop on rent values for different areas.
Managing and arranging maintenance can be a nightmare for landlords. Letting agencies take the pain out of property management. A good agency works with a network of tried and trusted tradespeople and will manage, maintain and repair anything on the property that needs this. Along with maintaining and, sometimes, repairing equipment on the property, they also liaise with your tenants to arrange a time for this that is most convenient.
A landlord has many obligations under the law and by using a letting agency, you can rest easy knowing that they keep up to date on all rules and regulations and can deal with any tenant or landlord issues accordingly. A monthly rental account statement can be given to you, the landlord, and rent collection and follow-thru with issues can be dealt with.
As an investor in a HMO, a landlord needs to be assured that their property is being maintained and that rents are being collected from their tenants. A good letting agency is ideal for investors who don’t want a full-time job managing their property but want to ensure their investment continues to be profitable. It’s also ideal for tenants who don’t want to run the risk of letting from an absent landlord.
