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Hidden dangers for the DIY landlord: Why instruct an agent?

Hidden dangers for the DIY landlord: Why instruct an agent?

Now, more than ever, landlords are being urged to seek guidance from professional agents when letting a property. With an estimated 168 rules and regulations which apply to the Private Rented Sector, you may not be surprised to know that more and more landlords are instructing an agent to assist them, not only in finding a suitable tenant, but also in the day-to-day management of the tenancy once occupied.

Why instruct an agent?

With ever-changing rules and regulations, it has never been harder to keep up to date. The risk of not issuing a required document at the right time, not having the necessary safety certification in place or your property itself not meeting health and safety requirements can have catastrophic consequences, not only in regaining possession of your property but there is also the threat of financial penalties.

At Stags, our knowledgeable, experienced and trained staff are able to advise on the current market, pre-qualify applicants to provide a landlord with choice, keep you updated on legislation and property compliance and provide support when it comes to maintenance or dealing with the financials. Our tailored landlord service options can be involved as little or as much as required.

For many, it is only when they are faced with a problem that they see first-hand the need for instructing an agent from the outset; so often, we can see that the issue could have been easily avoided.

On the horizon, we are likely to see the Renters’ Reform Bill come into force, bringing various changes which landlords will need to be aware of. In addition, a further update to the energy efficiency regulations is likely as the government pushes to increase the energy efficiency of the private rented sector. All of which will require actions to ensure compliance.

If you are currently letting your property and would like some advice or more information on the various services we can offer, please contact your local Stags office.