Landlords who use letting agents to market their properties can save up to £2,000 each year, primarily from the reduction of expensive void periods, according to a recent poll of over 500 UK landlords conducted by the landlord insurance arm of Endsleigh Insurance.
Reduce void periods and secure higher rental income !
A recent poll of 500 UK landlords carried out by Endsleigh Insurance discovered that many landlords did not fully understand the cost effectiveness of using a letting agent, with 53% of landlords in the survey not using agents when renting out their property.
David Hadden, Head of Property for the landlord insurance arm of the firm, said “Landlords who use letting agents find them very useful – especially before a letting – and state they help to reduce stress, free up time and, critically, save them money.”
“The perceived cost of using a letting agent is among the biggest deterrents for many landlords, but those that do use an agent are on average reporting significant savings. Landlords considering letting their properties directly to tenants in light of changing legislation must seek advice to avoid potentially compromising their income, their quality of life and the provision of support and service that agents can offer.”
The report concluded that landlords can make an average monthly saving of £159 by using an agent, primarily from the reduction of expensive void periods.
76% of those who took part in the survey said that their agents are extremely adept at sourcing tenants for them and are helpful in areas such as legal and fiscal matters, which saves them time and effort. Over half of the landlords that use agents stated that they found their local knowledge invaluable and 41% of them said using an agent had improved their quality of life.
At The Right Place we maximise landlords income with minimum void periods and quality tenants, whilst securing rental payments of 10% higher than those of self managing landlords.
Landlords seeking ZERO SETUP FEES from a Milton Keynes Letting Agent have come to The Right Place !