Understandably, all landlords are keen to minimise their outgoings when renting their properties. Some may also decide to source their own tenants or manage the property themselves, in order to avoid agency fees – however, we would urge a word of caution here, cost cutting or worse still, corner cutting, can lead to bigger problems in the long run.
Finding a quality tenant is only one aspect of the venture and whilst some landlords are fortunate and have never experienced any issues, many others are not quite so lucky. We often hear horror stories from new landlords who tried to go it alone – only to end up with disastrous consequences.
According to the National Landlords Association, some 50% of landlords have had a property abandoned by a tenant. This usually follows at least one month of rent arrears and can also include substantial repairs bills, cleaning costs and arrears of utility bills, which may have accrued without the landlord’s knowledge.
Then there is the problem of possession. You can’t just reclaim the property, as the tenants are unlikely to have formally relinquished their occupation. So despite having an empty property, you could still have to gain formal possession through the courts. This can take months and be expensive, especially when compounded with rent arrears and a period of vacancy.
We believe it’s absolutely vital to employ a reputable and regulated lettings specialist, who has robust tenant referencing methods, understands the lettings process, the law and how to minimise the chances of any of the above situations from occurring.
Ultimately we look after your investment so that you don’t have to.
Why not call us for a chat on 01277 230300. It could pay dividends!
Grace & Rose Estate & Letting Agent
If you are looking to move home in the near future, or need any advice with regard to selling or letting your property, please don’t hesitate to call either myself, or one of our team at Grace & Rose, your local, independent, family run Estate Agents in Billericay 01277 623010 and Brentwood 01277 230300 – book your free market appraisal https://graceandrose.co.uk/contact-us/ or email me direct on email@example.com
We also cover Shenfield, Chelmsford plus the surrounding villages including Blackmore, Bobbingworth, Chipping Ongar, Doddinghurst, East Horndon, Fryerning, Great Baddow, Great Burstead, Great Warley, Herongate, High Ongar, Hutton, Ingatestone, Ingrave, Kelvedon Hatch, Little Burstead, Little Warley, Moreton, Mountnessing, South Woodham Ferrers, Stock, Stondon Massey, The Lavers, The Rodings, West Horndon and Writtle.