How Can Buy-To-Let Investors Manage Property?
Various services offered by letting agents can help to make the property more profitable for buy-to-let investors. Read how
By: Instyle Apartments
A recent study has shown that letting agents in London can contribute to a great extent in making your property more marketable. Their “let-only”
However, the “full management” service is like an extension of the entire set of tasks, except that the agent will continue to collect the rent for the rest of the months. Also, full management involves dealing with the routine maintenance and running of the property. This may cost nearly 15 per cent or more sometimes.
Landlords, who have large portfolios to manage or own properties in far away countries, essentially need the agent’s services. But for people who may not want to incur as much expenditure on agent services may go for one of the online lettings agencies available in the real estate scenario now. They basically allow landlords to promote their properties on various lettings websites, starting at approximately £100.
This system works in a blended manner where the landlords are made to interact with the tenants and they can conduct their own interviews, property viewings, etc. This allows both the parties to meet each other directly and make the decision on their own.
Present scenario suggests that the increasing competition among various letting agents has brought the fee down for let-only to almost six per cent and for full management to nearly 10 per cent of the rent. What type of service will suit your requirement the most depends upon the way you would like to go about handling your property and the cost that you would like to incur while opting for a buy-to-let option.
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