50% of Landlords Don’t Use an Agent Why Smart Landlords do

At the second reading of the Renters Rights Bill in the House of Lords this week – it was said that around 50% of landlords choose not to use an agent. While some may believe they’re saving money or retaining control, there are huge advantages in using a professional letting agent. Here’s why we at Bevan Residential believe that appointing an agent would be one of the best decisions a landlord will ever make.

Time Management

Self-managing landlords often face a significant time commitment involving tasks such as advertising, conducting viewings, handling tenant queries, and addressing maintenance issues. As a landlord you also take on the role of advisor, plumber, counsellor, electrician, social worker, and mother! A letting agent can take on these responsibilities, potentially allowing landlords to focus on other activities.

Legal Compliance

The UK rental market is heavily regulated, and with the incoming Renters Right Bill, there has never been a more important time to keep up to date with legislation.  There are frequent updates to safety regulations, deposit protection, money laundering, rights to rent property, eviction procedures, and licensing requirements.  As a member of ARLA Propertymark we stay informed about any impending changes, as well as having strict guidelines to adhere to to ensure properties remain compliant and reduce the risk of penalties.

Tenant Acquisition

Vacant properties can lead to financial losses, and selecting unsuitable tenants might result in rent arrears or property damage. Letting agents have access to wider marketing channels, professional tenant screening processes, and industry experience to find reliable tenants efficiently. Often being in a position to make a less emotional decision is crucial in matching the right tenant to the right property.

Maintenance and Emergency Handling

Landlords who manage their properties must address emergency calls, broken boilers, and contractor quotes. Bevan Residential have a network of tradespeople to handle maintenance issues promptly, preventing escalation.

Rental Income Maximization

While some landlords aim to save money by not paying an agent’s fee, letting agents provide market advice to help achieve optimal rent and avoid prolonged vacancies, potentially increasing net income.

Evictions and Dispute Resolution

Although thorough vetting reduces risks, disputes can still occur. The eviction process in the UK has strict legal requirements. Letting agents are familiar with these processes, which can help in dealing with non-paying tenants and regaining possession of the property.

Investment Protection

Professional management can help maintain the condition of a rental property through regular inspections, proactive maintenance, and tenant communication, thus protecting the property as a valuable asset.

Managing a property independently can offer cost savings but involves significant risks, responsibilities, and time commitments. Using a letting agent like Bevan Residential will provide expert knowledge, legal compliance, quality tenant placement, and optimized returns while potentially reducing stress for the landlord.

Landlords considering their options between self-management and hiring a letting agent should weigh the benefits and challenges of each approach based on their individual circumstances.  To find out more about the services we offer and how we can help you and your property please contact us to arrange a no obligation meeting.

                          February 2025