When it comes to letting a property, there are a variety of benefits that you can enjoy by using a letting agent. This is especially true if you don’t have a lot of experience in managing rental properties. Letting agents in Glasgow West End can help you with the legal, tax and insurance aspects of running your business. You can also benefit from inspections, check-ins and check-outs and tenancy renewal fees.
Manage Maintenance
If you own a property, it’s critical to use a letting agent to manage maintenance. Maintenance is a complex and delicate area of land lording. Incorrectly handled repairs can lead to long-term damage to your property, as well as poor tenant satisfaction.
To manage maintenance, you need to create a vendor list. Vendors can include contractors and service providers. These vendors can help with repairs and renovations. However, it can take time to compile a comprehensive vendor list.
Inspections
In order to keep your rented property in good condition, it is essential to carry out regular property inspections. This will ensure that the tenant is complying with the terms of their tenancy agreement and that the property is in good condition.
In addition to catching problems early, property inspections help maintain communication between landlords and tenants. Tenants may not know that they have the right to inspect their own rented property.
Deposit Disputes
There are many reasons to hire a letting agent. For example, they can handle the heavy lifting of checking you out, getting you a new lease and collecting your rent, and of course, finding a new home. However, you should do your research on the agency to make sure that they are legit. After all, they are your money. So, what are your rights?
The best advice is to ask questions, be honest and do your homework. If they tell you that the property is in tip-top condition, do the math and see if it really is. In the event that it is not, you may be liable for the difference.
Tenancy Renewal
Tenancy renewal fees are a charge that letting agencies charge to their clients when they renew a tenancy. These fees are often referred to as administration fees.
They usually come as part of the monthly rent. This fee is usually charged to cover the costs of preparing the new tenancy agreement, as well as the cost of letting agent’s inventory and damage checks. If a letting agency is going to charge you for the tenancy renewal, it’s important to read the contract carefully and be wary of any extra charges that may be imposed.
