If you’re finding it hard to get a tenant for your rental property, you’re not the only one. Various factors, such as rising rental prices in London, changed tenancy laws, and Brexit, are creating a problem for landlords who need a good tenant.
But don’t worry. There is a solution to this problem, and they’re called estate agents.
Why use an estate agent to rent your property?
An estate agent is a company which takes care of the end-to-end rental or sale of a property. Your estate agent in London will work with you to fill your tenancy requirements and will ensure that you’re never left without a tenant.
So, what are you waiting for?
Estate agents offer landlords fantastic advantages that help them make their rental properties more profitable. These benefits are why you should contact the best estate agent London residents can vouch for.
Here are the ways they help you:
They know the value of the property and will market the property appropriately
There’s a massive competition for tenants in London right now, and how you market your rental property will determine whether or not you’re left tenant-less. This is where an experienced estate agent comes in.
Estate agents have considerable knowledge about all districts in and around London. They know what makes your property and your neighbourhood better compared to other localities.
For example, if your property sits close to a children’s playground or a great school, a family with small children would profit immensely. Or if your rental is just a walk away from a 24/7 pizzeria, college students would love your property.
When your estate agent represents you, they perform a complete analysis of the positive features of your neighbourhood. They will then find the right tenant group and actively promote your property to them.
They have a long database of prospective tenants
Apart from marketing your property, your estate agent will also proactively search for tenants for you. This is made easy by the fact that real estate agents often have a very expansive database of people who’re looking to rent a property.
Usually, a person who wants to rent a house in London contacts an estate agent who is currently representing rental properties. They leave behind their name and contact details with the estate agent, which subsequently gets stored in the company’s database.
Your estate agent in London will filter out all those tenants who don’t match your requirements. This way, when they contact prospective clients, you can be sure that the renter they bring will be a perfect fit.
They conduct comprehensive background checks of tenants
Every landlord is scared about the type of tenant he/she may get. After all, it is your home that you’re giving out on rent to a stranger. But this is one issue that landlords need not worry about.
Every estate agent in London has in place very stringent background verification procedures for prospective tenants. These tests and screening checks check for the following information:
• Professional details – student or employed, name of employer/university
• Income & finances – current income level & any other savings, investments or earnings
• Lifestyle – social or solitary, number of people who come over regularly
• Previous landlord details & references
• Employer or personal (friend or relative) references
This information helps the estate agent pre-qualify people who are tenant-material.
They’ll also do a credit check and find out the credit rating of your prospective occupant to see how financially-sound they are. This way, they ensure that your home will always be in good hands.
They possess a strong awareness about tenancy laws and can help you navigate them
The tenancy laws in the UK have undergone numerous changes, and so have a few regulations which govern buy-to-let properties in London.
Not all landlords will be well-versed with this information. When you don’t hire an estate agent to represent your rental property, you stand the risk of violating compulsory regulations, which can lead to a lot of problems. The Government can even strip you of your license to rent your building.
Similarly, landlords in the UK must furnish specific documentation like the Energy Performance Certificate and the HHSRS hazard rating, to the Government. Landlords should also provide their tenants with a ‘How to Rent’ checklist before moving-in and check if their tenant has a ‘Right to Rent’ permit with them.
These and many more steps which need to be followed can be quite confusing and cumbersome for a stand-alone landlord to do. Seeking help from the best estate agent London can offer will make the entire tenancy process straightforward and quick.
At Greater London Properties, we have extensive experience helping landlords in London find qualified tenants. Speak to us for more information and call us today 0207 734 4062
If you are looking to rent or purchase a home in the city, speak to our estate agent London today. We can help you find a home in the heart of London. Contact our Soho office on 020 7734 4062, fill in the form below or pop in to our office on Broadwick Street and we can point you in the right direction.