If you’re thinking of renting out a property to tenants there are lot of things to take into account. Your responsibilities as a landlord may be difficult to keep to if you live far away or have difficulties with mobility for example. This post takes a look at how using an online lettings agent works and how it compares to the traditional bricks-and-mortar lettings agent route.
The Move to Online
The time-honoured tradition of letting your house out through a high-street agent is getting rather deservedly out of fashion. This is for good reason: there are more and more tried and tested alternatives that could save you a lot of time and money – online lettings agents being the main alternative.
Traditional high-street letting agents are notorious for charging sometimes extortionate rates to both tenants and landlords. This is why there has been a big move among those looking to let out their homes toward online lettings agents like House Network, who charge fair fees at a one-off flat rate for their services.
Furthermore, your standard high street agent leaves you with comparatively little control over such an important asset, and this, coupled with the severely off-putting administration fees, really turns people away in a hurry.
The main advantage of online lettings agents over letting out your house by yourself is the fact that you can save yourself a lot of valuable time. Online letting agents take the sting out of all the admin, but take the lead from you. If you’re working a lot during the week and letting your property on your own, your time will be taken up with landlord responsibilities like the following:
- Energy performance certificates – you are obliged to provide these
- Deposit protection schemes – government approved schemes are advised
- Financial and legal responsibilities – sorting out income tax and insurance and drawing up a contract
- Health and safety features – smoke and carbon monoxide alarms and fire extinguishers, fire doors etc.
Online lettings agents are better placed to help you find a tenant that you approve of, instead of how traditional agents latching on to the first prospective tenant who expresses interest. So this is a great way to go if you’re renting from a distance and you want to keep a modicum of control over who’s living in your property.
The main reasons to choose an online lettings agent to rent your property is the combination of financial and time savings, as well as providing a happy medium between the services lettings agents provide and the control over the way your letting is managed.