Jacksons - Magazine - Page 29
GETTING THE RIGHT TENANTS
1.
The success of an investment property depends on
finding the right tenants, people who will treat your
property with respect, pay rent on time and hopefully
live in your property for a longer duration. Finding and
checking the backgrounds of tenants is a lot of hassle.
Property managers use targeted advertising and then
the tenants are carefully vetted to ensure they are the
right people for your property.
HANDLING ALL THE LEGAL FORMALITIES
2.
Protecting yourself legally requires having the right official
documents in place. You are also expected to remain
within the law in terms of health and safety and will need to
undertake specific checks on your tenants, under the Right
to Rent Act. Handling all legal formalities is included in a fully
managed letting service, which means that you don’t have
to worry about unintentionally breaking the law and being
subject to penalties.
REDUCE VOID PERIODS
3.
Every landlord has concerns about their property
standing vacant for an extended period. Working with
a good letting agent will help you find the good tenants
and ensure they stay for as long as possible. If they
choose to leave, your agent will then work towards filling
the vacant unit by advertising the forthcoming vacancy
in the relevant online portals and on other platforms. This
means reduced void periods and a more reliable
cash flow.
PEACE OF MIND
4.
The managing of a rental property can be tricky,
especially if you don’t live nearby. Even if you plan to
make periodic inspections of the house, or check in to
ensure your tenants are happy, it is difficult to keep up if
you are not living close. Property letting agents take this
stress out of the equation as they will regularly inspect
your property, investigate the maintenance needs,
check if tenants are happy, collect the rent and resolve
tenant issues.
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