How landlords save money with a letting agent
With the demand for rental properties continuing to grow at Bidmead Cook, we seek landlords to help meet this need. Research by RICS found that due to the changes last year, in particular the stamp duty surcharge, the number of investors across the UK has dropped, so much so that if demand continues to increase and the government fails to act, we could be looking at a shortfall of 1.8 million rental properties within the UK.
“The private rented sector became a scapegoat under the previous Prime Minister, and because of that, it suffered. Yet with increasingly unaffordable house prices, the majority of British households will be relying on the rental sector in the future,” said Jeremy Blackburn, Head of Policy at RICS.
Reassuringly, this growing need, even with the difficult circumstances, doesn’t seem to have dampened Welsh landlords’ desire to let their properties. Rent Smart Wales has, however, made landlords think about managing their own property, with some preferring to hand over the responsibility to a letting agent, such as us. One concern many landlords raise about using a letting agent is the cost, which is why we hope this latest research by the insurance company Endsleigh will settle your fears.
Endsleigh surveyed 500 UK landlords and found that those who used a letting agent estimate that they save around £1,910 a year by having their property managed instead of taking on the marketing and management themselves. This proves that we have a substantial role to play in securing you a profitable outcome.
As a letting agent, we are able to put plans in place to reduce those costly void periods. Our database of prospective tenants, our investment in a range of marketing activities, and our ability to react quickly to any situation that arises, means that we can minimise the risk for a landlord, thus saving them the increasing losses of their property sitting empty.
When marketing a property we can reach a larger audience quicker, and more effectively. In addition to our database, we list your property on the major property portals, as well as our own website. We also have a strong digital strategy, which means we can quickly get the word out across our social networks.
These alone are not the only benefits we offer; our local knowledge can prove extremely beneficial, especially if you’re seeking to increase your portfolio. But the main advantage of using Bidmead Cook as your letting agent has to be the service and the peace of mind that it brings. We take on any issues arising from your tenant or your property and resolve them as quickly and as smoothly as possible, whilst always keeping you informed. This not only saves you time, but also reduces the amount of stress you could be under as a result.
No matter whether you’re new to the letting industry or a seasoned professional, come and talk to our lettings team and discover the difference Bidmead Cook can make to your portfolio.