Without this one thing then you will find that letting your house becomes a very stressful process.
Not having this essential point may result in you having issues collecting rents and being able to maintain a regular income from your buy to let property.
But once you take care of this, then lettings become a stress free process, taking up very little of your time whilst providing a steady monthly income from your rented properties.
What am I talking about?
I’m talking about having letting and management agents in your power team as an essential for your buy to let business strategy.
You see, having good agents will ease your life by alleviating many of your issues from your rented property. Imagine your peace of mind when you don’t have to deal with your tenant if the boiler doesn’t work or when they lose keys and cannot get in to the house. Imagine all the extra time you get to free up so you get to make memories with those you love. Is that not what really successful people do? Free up time to spend dong what they love doing with whom they love doing it?
Regardless how old you are now, do you think the time will stop for younger people and will speed up for older generation? Although it feels like that but is not the case in real life. We all get same amount of time in a day, week, month or year but the question is, how would you like to use your time? Would you like to trade your time making some hard earned income or would you like to get passive income while spending your time doing what you love with people you love most? Time – is a priceless commodity and it cannot ever be regained once spent. Money on the other hand can easily be replaced once spent.
Letting and managing agents can take away massive load of your shoulders making you money while you are chilling out. To appreciate the role of letting and management agents, let’s explore what they actually do.
Once you sign an agreement with your letting and managing agency they will:-
o Do the appraisal on the property and do visual safety checks
o Take some professional pictures and advertise your property on different portals
o Take care of inventory (if requested)
o Take phone calls from prospective tenants, arrange viewings and qualify good tenants
o Take deposit and first month rent
o Prepare AST and all relevant documents to be sign by tenants
o On the day of moving in, check tenants in and get all documents signed
o Back to office, register deposit with Deposit scheme and send confirmation to tenants along with T&C of the scheme used
o Do regular check-ups and call outs
o Look after the maintenance and possible repairs (if agreed)
o Transfer rent to landlords account
o Renew AST
o In case of arrears – take necessary actions to minimize financial damage
o When tenants move out- do check out
o Once the property is ready to re-let- they do all over again
Would you agree it’s very time and energy consuming?
I believe that by delegating you can do more in less time. Whenever you choose a good letting and managing agent to do the job for you, you are paying for peace of mind!
I’d like to leave you with a quote from Steven Sinofsky “When you delegate work to the member of the team, your job is to clearly frame success and describe the objectives”.
Delegate and you will be very prosperous from your buy to let properties Call us today on 0121 249 0783 or email firstname.lastname@example.org to learn more!