Letting agents can be valuable sources of advice and expertise. You can choose to use them initially, to attract and vet potential tenants, draw up the necessary paperwork and so on, then take over the day-to-day running yourself. Alternatively, you can retain an agent to provide a full management service, liaising with your tenants and arranging repairs as necessary.
When deciding how to manage your property, bear in mind that, although you will save money by doing it yourself, you will almost certainly spend a great deal of time – organising and attending viewings, coordinating repairs, and so on. Be realistic about the commitment you can make. Should you opt to employ an agent, be sure you are clear about the charges you will incur.
Whether you own just one property or a whole portfolio, here are some tips for property management without tears.
With thanks to BuyAssociation.
