For those trying to build a property portfolio, the next step after purchasing a property is to let it out to genuine tenants. Over the years, renting out a property has proved to be a steady source of income. Landlords search for reliable tenants who will not only be able to pay the rent, but will also keep the property well-maintained.
With rental properties in high demand, it is usual for landlords to receive many applications from various tenants. It becomes a time-consuming process for them to screen out the inappropriate ones and consider the good ones. This brings the letting agents into the fold who ease out the entire rental process with their in-depth local knowledge and expertise.
Although it is possible for some landlords to carry out the entire process on their own, most of them prefer to find tenants with the help of E16 letting agents instead. Property owners and tenants can find an efficient letting agent by checking their accreditations. The right agent will not only have a profound working knowledge of the industry, but also help with the tenant selection procedure. When it comes to background checks, these agents dig deeper compared to landlords.
Letting agents provide a complete package of services to landlords including finding tenants, screening them and fixing a face-to-face meeting. They also cater to the needs of the tenants by helping them to get their dream home.
Another advantage of hiring a letting agent is that they can act as a mediator between landlords and tenants ensuring there is no conflict of interest. They handle the legal tasks to make life easier for both parties.
After the landlord approves the tenant that meets their specific criteria, letting agents take care of the property at regular intervals. They give regular updates regarding the state of the property whilst also informing if any sort of repair or renovation is necessary. In case the landlord is settled out of town, a letting agent take care of rent collection from the tenant.
By leveraging the strategic know-how of efficient E16 letting agents, landlords can get the most out of their investment. Dealing with the legal aspects of renting and tenancy can often fall out of the zone of both landlords and tenants, and this is where the professional guidance of letting agents proves to be the most beneficial.