The Business Exchange Bath & Somerset Issue 4: Summer 2017 | Page 30
Sharp increase in the
use of letting agents...
An increased number of landlords are relying
on letting agents to manage their properties,
according to recent research by the National
Landlords Association (NLA). Peter Greatorex,
Managing Director at apartment specialist, The
Apartment Company, outlines the benefits…
The NLA found that 61% of landlords surveyed, currently use a
letting agent – a rise of seven per cent since the final quarter of
2016. Meanwhile, the proportion of landlords who self-manage has
decreased by nearly ten per cent over the last year. The South West
in particular, saw a significant increase. We’ve been used to a relatively
stable increase of 1% over the last few years, so this is quite a spike.
We’ve also seen this trend starting to happen in Bath. It would appear
landlords are seeking a professional shoulder to lean on due to recent
changes to buy-to-let taxation over the next few years and plans for a
ban on tenant fees. The vast majority of letting agents are true experts in
Bathwick Street
per calendar month £950
Part Furnished · Double bedroom · Roof top garden · Available mid-
June 2017 · Tenant fees £420 inc VAT
SALES
01225 471 14 4
LETTINGS
01225 303 870
their field and so in a period of uncertainty, their expertise is invaluable
to landlords who require professional advice and reassurance, in order
to reduce stress levels and achieve long-term financial success.
By using a letting agent to manage a property, everything is looked
after on your behalf, including problems, as the sooner these are found
and then resolved, the less money and stress is inflicted upon you.
Other benefits include; confidence that your rent will be received, your
legal responsibilities will be taken care of and your agent will know
what to look out for at a property in terms of issues and problems that
may need addressing. A letting agent is able to make a property more
marketable, will organise any DIY and repair jobs that need doing and
will obtain a reliable inventory list to avoid disagreements about the
condition of the property at the end of the tenancy. A good letting
agent will also be on top of all the new rules and regulations which can
be confusing for landlords to keep up to date with themselves.
At the Apartment Company, we also help landlords through our
alliances with tax experts, lawyers, accountants and mortgage advisors
to ensure they are maximising the best buy-to-let opportunities in Bath.
As 100% of our tenants are looking for apartments, we are specialists
at helping landlords with their apartment portfolios. Please do get in
touch if we can help you too.
Victoria Bridge Court
per calendar month
£1,250
Unfurnished · Two bedrooms · Allocated parking for one car
Communal gardens · Available 1st June 2017 · Tenant fees £420 inc VAT
[email protected]