New research conducted by insurance firm Endsleigh has highlighted the valuable role that letting agents play in helping landlords make the most from their rental properties. The survey of 500 landlords revealed that those who use a letting agent estimate that they save £1,910 a year by not taking on the responsibility of marketing and managing the properties themselves.
Most of these savings come as a result of the guards against costly void periods, with letting agents offering a number of services to make these periods much less likely. What’s more, 76% of the landlords surveyed said that their agent tends to help them find tenants in a proactive manner, as well as offering expert assistance on key financial and legal matters.
So, what are the benefits of using a professional agency like Glenham?
This is our business
This is what we do. Not many of us would choose to service our own car these days. It’s a specialist field requiring the knowledge and tools most of us just don’t have. If you don’t trust yourself to service your own car, why on earth would you trust yourself with a vastly more valuable asset – like your investment property?
Glenham is primarily an asset management company focused on ensuring our clients benefit from the best returns possible from their investment. We have an intimate knowledge of market conditions, trends, and demand levels and for these reasons Glenham will ensure we get a top price where rent is concerned. We are focused on finding suitable tenants to occupy the property as quickly as possible resulting in reduced void times, higher yields and ultimately a better return on investment.
Finding Suitable Tenants
We constantly seek to mitigate our clients risk and one of the ways we do this is by finding the right tenants. Glenham will carry out all the appropriate checks that lead to a suitable tenant and reduce the risk of rent arrears and potential damage to our client’s asset.
Whether it’s a busted boiler or pesky pest control problem, maintenance of your property is a foregone conclusion. We have a comprehensive network of tradesman available at our fingertips. Bigger problems require a higher level of organisation, meaning we need to liaise with tenants to arrange when work can be carried out on the property. Dealing with these obstacles can be a time-consuming process but at Glenham we have the ability to efficiently solve maintenance issues, and in doing so will free up your time considerably.
Peace of Mind
With the ever-increasing levels of regulation around residential property letting and changes to the legal framework, a private landlord faces many pitfalls that could end in loss of income, prosecution and, in the worst case, criminal charges. At Glenham we take on that burden and fulfil the majority of a landlord’s obligations on their behalf. We also adhere to stringent practises and are members of various trade bodies, like the ARLA and The Property Ombudsman. You can breath easy in knowing that correct legal action will always be taken.
Whether you’re a first-time landlord or own a portfolio of properties, investing time staying up to date with the lettings market and everything that entails would be a lengthy process. As a premier Edinburgh letting agent, Glenham we are immersed in the market and stay up to date with all the latest legislation and regulations. In addition, all our staff are trained to ARLA standard and carry out ongoing training to stay abreast of any changes that may affect our clients. As we are a company focused on asset management we seek to react quickly to any changes that take place in the market that might have an impact on our clients returns and seek out ways of mitigating the impact on our clients’ investments to continue to maximise their returns. Get in touch today to discuss our comprehensive property management service and see how we can help you.