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Why Do Landlords Choose A Managed Lettings Service
Date Published
06 February 2024
Being a landlord is a popular thing these days - there are more than two and a half million private landlords in the UK!
According to
official figures
from the Department for Levelling Up, Housing & Communities, the private rental sector is now bigger than the social rented sector, having grown by 45% between 2008 and 2021.
Some landlords might own a single rental property, while others may have built a portfolio of a significant size.
Either way, being a landlord is all about running a business. That means there are many different aspects involved, whether it's essentially a moneymaking hobby or a full-time way to make a living.
B2B
Business to business (B2B) connections keep the economy running. Wholesale outlets supply retail shops, banks supply business owners with funding, and a wide range of professionals provide ancillary help such as accounting, legal and management services.
Any successful business will always involve using specialist third party help in various ways and being a landlord is certainly no exception.
From start to finish, making sure that you get the best return on your rental property investments can rely on what kind of professional help you choose.
Tenants
There is far more to renting out a property than simply finding someone that would like to move in.
Vetting potential tenants to make sure they can afford the rent is a basic must-do. Finding out if they have a good track record as a tenant is an obvious bonus too. That's before the various checks that need to be made by law are done...
Knowing your own legal responsibilities as a landlord is something that it is becoming increasingly hard to keep up with. Do you know the documents needed to prove someone has 'the right to rent'?
Rents
You need to guarantee a return on your investment (ROI) and if you have a Buy to Let mortgage it will be something that will have been covered in the application process.
As anyone who owns their own home knows, there will always be various expenses and outgoings involved to maintain a property and not all of them can be planned for in advance!
So setting the rent at the right level is key to being a successful landlord. Too low and you might not achieve the ROI needed, too high and you might price yourself out of the local market.
Rent collection can be something many landlords don't want to handle themselves. More than that, it can be time consuming to set up banking details, let alone making sure payments are made on time.
Lettings management
At Stafford Johnson we offer a comprehensive set of services for landlords that cover everything.
From finding the right tenant to managing their entire tenure in your property, you can rest assured knowing that all relevant laws, rules and regulations are being adhered to.
Much more than that, we listen to you and understand your aims and ambitions.
If you want to expand your portfolio at any time we're here to help you acquire your next property.
On the other hand, if you want to make the most of a capital investment you'll have a local specialist who you know and trust to sell at the best possible price.
We make life for our landlords as stress free as possible and aim to maximise your return on investment.
Call our lettings team today on 01903 501105 and find out why so many landlords in and around Worthing choose our Lettings services.
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