The interest in investing in the buy-to-let market has never been higher, with more and more investors being tempted by recent changes and circumstances to invest in a property on the rental market.
As one of the biggest letting agents in Birmingham and across the UK, at Belvoir we believe that prospective landlords need to research their investment further, and must consider carefully whether they should go it alone, or seek the help of a professional letting agent.
Skills and Abilities
When you are letting a property for the first time, there are often many things you have to consider, and this can be extremely daunting if you’re going it alone.
You will need to assess your available time, skills and abilities and safeguard the property in order for it to meet regulations before tenants move in. If you don’t understand current legislation or you are unable to prioritise your tasks effectively, the process is likely to become far more stressful and you are less likely to make a significant return on your investment.
Professional letting agents have a greater understanding of the property market and related legislation, and can use their technical knowledge to benefit you. This will help to minimise stress, ensure that your property meets legal standards and help you to move tenants in as quickly as possible.
Being a landlord isn’t just about making sure your property is ready to be put on the market, you also need to have a lot of time on your hands if you are going it alone.
As a landlord, you have many responsibilities, including repairing the property and its contents and ensuring that any issues your tenants are having are managed quickly and effectively. If you choose to go it alone, you will also have to manage rent payments, miss out on crucial professional advice and run higher risks should your tenants miss rent payments, damage or misuse your property.
If you don’t have the time to manage your property as much as it requires, you should realistically hire a letting agency to manage your property for you. This will ensure that your property and your tenants are taken care of, as well as ensuring that you receive payments on time and will face as little stress as possible.
Although going it alone can have its benefits, without having the time and knowledge to manage your property correctly, you should seriously be considering using the services of a professional letting agent. Belvoir is one of the UK’s largest property management agencies, and we can help you to reap all the rewards from your investment property in Birmingham.
For more information, contact us today by calling 0121 212 0122. Our professional team will be happy to help you with your enquiries.