Most landlords reach a stage when it’s worth considering if using a letting agent will be beneficial for their time and money amongst many other factors. Your time is valuable, and if it can be spent elsewhere while Leicester letting agents manage your property, it can be extremely beneficial and lead to increasing yields in the long run.
Leicester is an attractive city to landlords as it has managed to avoid price increases in the region and this affordability, combined with high yields, allows for property investors and landlords to expand their business and purchase more property. The sustainability and security of the Leicester buy-to-let market is an appealing prospect for many who want to make the best return possible on their investment, and landlords are increasing their yield through letting agents in the area, but how?
Leicester letting agents share your goal to make maximum return on your property, and with that comes professional and consistent management to ensure you feel confident everything is running smoothly.
Marketing your property
A letting agent can identify exactly what is needed to make your property attractive to potential tenants. The more you make your property feel like it could be a home, the more tenants are willing to pay the price you are asking. Leicester letting agents will advertise your property on top websites such as Rightmove and Zoopla, and ensure you are marketing in the correct way, sharing local advice on additional advertising if necessary. When it comes to photography, they will also come to your property to take professional images that showcase the space in the best way possible.
Finding the right tenant
Leicester letting agents will conduct tenant viewings and ensure they are thoroughly vetted to avoid the risk of eviction and issues later down the line. With extensive experience, they will be able to pick up on the warning signs of a bad tenant and source references for potential tenants to save you time and effort.
Deal with deposits and inventory
Letting agents will secure tenant deposits through official schemes and ensure a full inventory has been carried out so the condition of your property is officially documented. This way, you can prove if any damage was down to your tenant and if it needs to be paid for using their deposit. It can be invaluable to have the support of a letting agent for this as there are many rules surrounding what you can and cannot do with a tenant’s deposit.
Ensure you are legally compliant
There are many legalities that come hand in hand with owning a buy-to-let property, and a letting agent can ensure your property is compliant and covered to the correct degree. Leicester letting agents will assist with your safety regulations and requirements and ensure you have a legally binding agreement in place to protect both you and your tenant. This can be extremely useful as your letting agent can be the middle man to avoid disputes if your tenant has any complaints.
Deal with any repairs, issues or problems
If something in your property goes wrong, a letting agent can arrange repairs and maintenance, usually offering a 24-hour emergency service. Whether your tenant experiences a water leak, or they’re locked out of the property, you can have the peace of mind that your letting agent will deal with these problems effectively and efficiently.
They will also deal with late payments, so if a tenant is late paying rent, your letting agent will chase them up and identify if there are any issues. Your tenant is extremely important, as without them there is no rent, so letting agents keep in regular contact to ensure everything is okay with your property and will carry out regular inspections.
All of these factors will allow you to focus your energy elsewhere on either other projects or another line of work to increase profits. It will reduce the amount of effort needed from you and your property will run as smoothly as possible without the potential risks that can come with running a property alone.
Property experts have stated there is a growing trend of landlords selling in London to move elsewhere and find buy-to-let opportunities with stronger yields and increased potential. There is no slowing down in Leicester, so it is no surprise people are wanting to invest and make a positive return.
If you’re a landlord looking for a letting agent to offer you anything from a simple tenant management service, to a comprehensive full management service, here at Affitto Estate Agents we can do just that. We share your goals and want to make your property see maximum returns with the help of our bespoke management services.
To find out more about our Leicester letting agent service, get in touch today – we’d love to work together!