TIPS
10.Consider the practicality of hiring an agent to rent the property out
Your property journey may only begin with buying a buy-to-let
property. Once you own one, you need to consider how hands-on you
would want to be in order to rent it out. Whether you plan to advertise
and rent it out yourself, or take the services of an estate agency to do it on
your behalf, make sure you weigh the potential benefits and costs
involved.
It is true that renting the property yourself may earn you better chances
of making more money; however, you should stay prepared for
weekend and evening viewings, publicity and repairs. While agents may
charge you a management fee, you and your property may be able to
benefit from their pertinent knowledge and expertise. With agents, one
does not have to worry about advertising and demo visits, as well as
searching for efficient plumbers, electricians or janitors.
When choosing an agent, it is not necessary to opt for High Street
agencies as many independent ones may offer you an even better and
more personal service. Simply short-listing several agents and finding
out their range of services may help you find the best one for your
property.
Zeeshaan Shah is a former BBC Apprentice candidate and the CEO of
London based property investment brokerage One Investments and
development company One Capital specialising in the student
accommodation, residential buy-to-let and hotel property market. You
can connect with Zeeshaan on LinkedIn.