As the Renters (Reform) Bill passes through parliament, the world of the landlord has never been quite so complicated.
Managing a property and adhering to ever-changing legislation demands more and more expertise and attention, making it all the more vital to enlist the help of a letting agent.
Here’s why you need an agent on your side more than ever before.
Find out about our managed lettings’ services
Navigating lettings legislation
The standards for rented homes in the UK have never been higher. Because of this, property investment is no longer as simple as buying a home and renting it out.
With over 168 pieces of lettings legislation already in place, and the Renters (Reform) Bill underway, the age of independent or ‘DIY’ landlords is over.
Sharp, up-to-the-minute familiarity with the current market is essential, and investors and landlords alike need to have an agent on board in order to keep up and remain compliant with changing laws.
Letting agents are experts in the market, which means they know about upcoming legislative changes well in advance, allowing their landlords ample time to tweak their properties accordingly and remain compliant with the law at all times. Fines for malfeasance are between £5,000 and £30,000, so going alone is not worth the risk.
Pent up demand
According to Rightmove, rental enquiries have more than trebled since 2019. Of course, high demand is good news for landlords, but it also means taking on a lot more responsibility.
Thorough tenant screening is absolutely crucial when choosing from a large pool of tenants. An agent can conduct multiple checks to highlight any potential issues and therefore find the most suitable person for your property.
Higher demand also means that the guarantee of a quality tenant is even more important. While there are fewer rental properties available, your tenants may be more likely to stick around long term, and in that case, you’ll need to make sure you’ve the right tenant in place. Parker’s tenants are fully vetted, allowing landlords complete peace of mind.
Tenant rights
It is becoming more and more challenging to meet the needs of tenants and maintain a high-quality property without the help of a qualified agent who has their finger on the pulse.
Day-to-day and week-to-week management of a property requires a broad range of knowledge and experience, combined with flexibility and the ability to be attentive at all times.
An expert letting agent who can provide 24/7 maintenance and service is the best way to ensure that your tenant’s needs are being met and that your property is adherent to the latest legislation.
Need help managing your investment? Contact Parkers’ lettings team today.
