As some Landlords seek to take the DIY route, Belvoir Southsea and Waterlooville is warning of the many pitfalls of taking such an approach to Lettings.
A recent report from Direct Line Business suggests that some Landlords are branching out on their own.
These figures are a massive cause for concern. Legislation & the Law changes so frequently , and if a Landlord is not fully updated and aware of what is required of them legally, then they could be faced with fines or even prosecution. Using a quality lettings agent ensures that both the Landlord and Tenant are looked after and that everything is above board.
In a bid to save funds, the report also found that Landlords are cutting the seemingly ‘unneeded’ costs of the correct insurances, leading to a somewhat shocking 18% of UK Landlords not in possession of the correct insurance. This puts the tenant, and also the Landlord at risk.
I would advise any Landlord unaware of their legal obligations to contact us at Belvoir Southsea or Waterlooville for a meeting to discuss this.
If you would like more information on investing in Southsea’s property market, please call me on 023 9273 5863 or email me at [email protected].