POM stands for “Peace of Mind” and for a landlord it’s priceless.
Are you about to let out a property for the first time? Or have you struggled in the past when searching for a rental property? In today’s market, both finding and letting a property can be a real challenge.
You may have been advised to hire a letting agent but still feel unsure. You’re not alone. Speak to a few landlords and you’ll hear very different opinions. Some wouldn’t dream of managing without a letting agent while others never use one. Instead of relying on mixed opinions, it’s worth thinking about what you actually need.
Here are a few key points to consider when deciding whether a letting agent is right for you.
Trust
Letting a property means dealing with strangers. Having a reliable professional in between can make the whole process smoother and reduce the risks involved.
Knowledge
A letting agent understands the local property market. They know what tenants want, how to market your property and how to set the right rental price based on comparable homes in the area.
Paperwork
From correspondence and viewings to references and contracts, a letting agent handles all the necessary paperwork. This alone can save you a huge amount of time.
Legal Requirements
Even experienced landlords may not be fully up to date with current legal duties or Health and Safety regulations. Failing to comply can lead to penalties. A letting agent stays informed about these requirements and ensures your property meets them.
Cost Effectiveness
Although you pay fees, using a letting agent can actually save money. When you compare the fee to the time, stress and potential errors they save you, it often works out as a cost-effective choice.
Security of Income
Late or incomplete rent payments can disrupt your cash flow. A full-service letting agent can offer added security by ensuring rent is collected on time.
There are many benefits to hiring a letting agent, but the most valuable is peace of mind. With the right agent, the stress and hassle of managing a property are lifted. Take time to research your options, ask for recommendations and speak to a few agents before making your choice. After all, your peace of mind — and your property — are in their hands.
