Is a letting agent necessary for your investment property?

“Southampton’s landmark development Admirals Quay, in the heart of Ocean Village, has been popular with investor landlords and tenants since its launch in February this year” (Daily Echo)

 

This beautiful development not only lends itself to stunning views but also to a luxury lifestyle with high-end contemporary apartments with concierge service, secure parking and a residents’ gym.

 

With the high demand of tenants trying to secure an Admirals Quay property, the development ticks all the boxes for investment landlords looking to add lettings in Southampton to their property portfolio.

 

My question is this, would you trust such a beautiful property to a tenant without a fully managed letting agreement?

 

Many owners of investment properties have busy careers and family lives in addition to managing their property portfolio. With so many demands on their time the day-to-day maintenance tasks connected with their properties may fall into neglect. This is where the fully managed letting agreement comes into it’s own. Not only will it give some time back, but it will also ensure the smooth running of any tenancies and protect your investment whilst still making a profit. A must have for such a high profile lettings in Southampton.

 

Letting Agents should be considered for the range of essential services and peace of mind that is offered to investment landlords. Firstly their knowledge of the local area is key to determining the market rental value of the property and the local marketing trends that apply.

The Agent will deal with tenant selection, collecting references and running credit checks to ensure the tenant is a reliable one, as well as putting a Tenancy Agreement and all associated paperwork in place. Essential should you ever need to evict a tenant to protect your property.

The timely collection of rental payments and the collection of any rental arrears that may arise will also be dealt with by the Agent. This will ensure your profit is always in the right place. They will also know the legal rules and regulations for protecting and returning the tenants deposits.

 

With a good understanding of property maintenance the Agent will be able to determine whether the tenant or landlord is liable for problems that may occur in the property.

 

Finally the Agent will carry out regular property inspections to highlight any routine maintenance that needs to be undertaken to avoid any breach of contract with the tenant, which also keeps your investment secure for future tenancies.

So, my answer is this. A professional Agent that deals with lettings in Southampton is a must to secure my investment and to be a success with my buy to let.

 

For more information on buy to let in Southampton visit http://www.belvoir.co.uk/letting-agents-southampton

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