As a Landlord the decision of self-managing or instructing a letting agent to manage your investment on your behalf can be one you toy over for a long time weighing up the pros and cons of both.
These are the top 8 reasons why using a managing agent is the right choice
- Continuous changes in legislation
Did you know that there are now over 120 laws and regulations that have implications for Landlords? It is imperative that anyone managing a rental property is familiar with these laws and the implications of not being compliant with these. Legislation is one of the main reasons more and more Landlords are opting for our fully managed service.
- Experienced property managers
Oakfield have a team of experienced property managers on hand to deal with maintenance issues as and when they arise whether that’s during office hours or not. As a Landlord it can be extremely inconvenient if you are at work or just about to go out for dinner and you get a call from your Tenant to let you know their boiler has stopped working. By instructing Oakfield Estate Agents it means that you wont get those calls and be expected to resolve the issues as that is what you have a manging agent
- Reliable and professional contractors
At Oakfield Estate Agents we have a team of approved professional and reliable contractors whom we have trusted with works for many of our 22 years in the industry. We have built such good relationships with these contractors over the years that we know if an issue arises at your property from a minor leak to a faulty boiler we can have a contractor there the same day to diagnose and often resolve the issue quickly and efficiently for you and your Tenant.
- Proactive arrears chasing
Unfortunately, no matter how well referenced an applicant maybe sometimes they do find themselves in rent arrears often due to changes in their circumstances. As a Landlord it can be hard to keep on top of ensuring that the rents on your property are all up to date, furthermore you may not have the time in your day to liaise with the Tenant to establish when the rent will be paid. At Oakfield Estate Agents we have a dedicated accounts department who liaise with Tenants that fall into rent arrears, keeping you informed every step of the way.
- Registering deposits
When taking a deposit from a Tenant this must be registered in one of the three Government approved schemes DPS, TDS and My Deposits, this must be done within 30 days of receipt of the funds, a lot of Landlords believe they have 30 days from the start of the tenancy which could lead to them being non-compliant with legislation. Furthermore, a Tenant must be provided with a deposit registration certificate, prescribed information and the scheme leaflet. At Oakfield Estate Agents we can register deposits with the TDS on our Landlords behalf taking away the stress of ensuring you are compliant. One less thing for you to worry about!
- Right to Rent
The immigration act of 2014 placed the onus on Landlords and Letting Agents to ensure that any Tenant moving into a property has the right to rent in England! The checks involve ensuring you meet every Tenant moving into the property and to check they have the correct identification documents, as per the government issued list, to reside in England. As part of the check you must ensure you see the original documents not just copies. As well as checks prior to moving into a property in some circumstances further checks need to be carried out during the tenancy. This is yet another thing that Oakfield Estate Agents do on behalf of our Clients.
- Mid term visits
Oakfield Estate Agents visit all of the properties we manage on a 6 monthly basis providing you with a report on the condition of the property. If you were self-managing it would mean you having to take time out of your day to carry out these visits.
- Professional body regulation
At Oakfield Estate Agents we are members of arla propertymark (The Association of Residential Letting Agents), arla propertymark is seen as a benchmark of professionalism for both Landlords and Tenants to have full confidence in. By instructing a manging agent that is regulated you know that your property is being managed by professionals following strict codes of conduct in the practices.
Our fully managed service is by far our most popular service contact us today to find out more.
Neil Newstead, FARLA MNAEA MIRPM
CEO – Oakfield Estate Agents