Many people dream of not only getting on the property ladder and owning their own home, but buying increasing numbers of houses and flats and letting them out. Like so much in life, the dream of becoming a landlord, if realised, quickly turns into the harsh reality of a whole lot of work — and a whole bunch of headaches.
Small-time landlords may be able to do it all themselves – running one or two properties and dealing with everything involved. It includes finding tenants, collecting rents, doing regular maintenance and everything else associated with the life of a landlord. For those who are growing their portfolios, however, professional help is essential. Not getting assistance means you risk becoming bogged down in the drudgery of running a business that is getting you nowhere fast.
If you find yourself in this sort of situation and are considering appointing a landlord agent in London W6 or elsewhere, ask yourself the following three questions and see if you really need to go ahead and sign that contract.
1. Proximity to Properties?
First of all, how close do you live to the properties you’re renting out? If you have a good number of them, it’s likely they’re scattered all about a town, city or county, or even further afield. Can you really afford to spend time driving around to them all and sorting out various problems, as well as collecting rent and everything else you need to do? Plus, how are you going to keep the close eye on them that you need?
2. Quality Street?
The more properties any one landlord has, the more work and trouble they have finding people to rent them — and the right people at that. No landlord wants their investment dragged down by tenants who pay late or don’t even pay at all, and then all the hassle of trying to evict them. Leading landlord agents like Horton and Garton know where to find quality tenants and how to negotiate solid contracts and renew them when the time comes, hopefully getting the landlord higher rents in the bargain. Additionally, they’ll be well seasoned at handling the many problems that can arise with even the best tenant, as well as turfing out those who breach their contracts or lease agreements.
3. Do You DIY?
It’s the bane of every landlord’s life, at least those handling everything themselves: essential and urgent repairs. There’s something wrong with the plumbing; an appliance has gone haywire; the kitchen ceiling has collapsed! There’s no end to the things that can go wrong in any rented residence and you may well be contractually and legally obliged to promptly sort it. Many landlords can’t make essential repairs themselves, as it’s usually the work of a specialist tradesman, but where do you find one at 7pm on a Friday night? Are your tenants to be left in the dark all weekend because you can’t locate an electrician?
A premier landlord agent in London W6 or anywhere else, depending on your location, has the answer to all these conundrums. All the properties they manage on behalf of their landlord’s clients will be in their locale, so they know what’s going on with them at all times. If rent needs collecting, the landlord agent will be there to do it. If something needs fixing immediately, they know the right people to do a good job — and not at the rip-off prices an unwitting landlord might otherwise be saddled with.
Most importantly, a top landlord agent is able to find the type of reliable and upstanding tenants any landlord needs to turn a house or flat into a flow of income they can depend on. Why sweat it out doing all these Herculean tasks when you don’t have to?
Finally, if you’re on the look-out for a letting agent to manage your rental properties, don’t be fooled into signing up-front fees. That goes for anything else you may be asked to shell out for before anything is done. The policy of the best letting agents in the business is that they get paid when you do.
That’s a foundation any established or aspiring landlord can build on.