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]