Making the let-to-rent process easy
If you’re thinking about renting out your home, perhaps as one of the legs of a let-to-rent strategy, you’ll be looking forward to reaping the advantages and benefits – extra cash flow, tax deductibles, easy relocation, and lower costs of moving among them.
What stops many people from letting out their own home and renting elsewhere is the same as one of the perceived disadvantages of investing in property: the thought of having to manage your tenanted property. By using professional property management services, you’ll eliminate the risks of DIY property management and benefit from all the advantages of let-to-rent.
The disadvantage of distance eliminated
Letting your home out to a stranger is a big step, emotionally. This is perhaps one of the ways in which the let-to-rent strategy differs most from investing in property with a buy-to-let strategy. And if you’re planning to relocate, then looking after your property from hundreds of miles away can be stressful:
- How do you know the tenant is looking after the property that was once your family home?
- What if a water pipe bursts or a storm damages the roof?
- And what do you do if the tenant is late in paying rent?
Professional property management will relieve of all such day-to-day concerns and responsibilities.
5 advantages of property management
When you hire an experienced property management team, you can put your worries to one side when renting out your home. Even though you might be hundreds of miles away, a good property management company will have systems in place that keep you informed of any issues that need your attention. The services that a let-to-rent landlord offers includes:
1. Vetting of tenants
This is really important. Not only will a property management company have access to a large tenant base, and have experience in advertising for tenants, it will also have systems in place to correctly vet prospective tenants before accepting them.
2. Tenancy agreements
Do it yourself tenancy agreements are notorious for getting right: and if you miss any of the 10 essential tenancy agreement terms and conditions you could be in trouble. If you’re renting out your home or investing in property to rent out, you’ll benefit from the knowledge that a property manager has when it comes to all the legal stuff.
3. Rent collection and deposit protection
If your tenant pays their rent a few days late, it could play havoc with your cash flow. Property management services should include correctly protecting the tenant’s deposit; putting in place the legal conditions to ensure that if any damage or loss is caused it will be paid for; and making certain that your rent is paid on time, every time.
4. Inspections and maintenance
From hundreds of miles away, a let-to-rent landlord will find it time-consuming and costly to conduct regular inspections and checks against inventories. Having a property management team in place will make certain that these inspections are done properly, and that any maintenance issues are taken care of before they deteriorate and become expensive.
Stay on top of your let-to-rent property
The team at Ezytrac is here to help when you are thinking about renting out your home. We’ll treat our relationship with you with the same professionalism that we do all our clients, whether landlords who are investing in property or people wanting to rent out their home.
We make the process of property management easy. We’ll qualify your tenants, use the latest technology to perform inventories, and ensure rent is collected on time. Call the team today on +44 1522 503 717 and benefit from property management services that are second to none.