There’s an ever-growing web of do’s and don’ts in the residential rental sector, especially when you’re a landlord – or are considering making some extra income by becoming one. This is why hiring a property management company, especially one that specialises in lettings, is incredibly advantageous to both new and experienced landlords to take care of your property, tenants and the legalities behind them. We’ve listed three great reasons as to why hiring a residential rental company can be a profitable move for landlords.
A vastly experienced lettings department will specifically understand the rental market. Using industry knowledge and strategies focused on long term tenancies and goals, they help to increase your rental yield, whilst doing all the hard work and maintenance for you.
With years of experience in the property market and servicing landlord’s needs, rental experts will have extensive knowledge on the most profitable areas and properties, helping you find new and proven opportunities to capitalise on. Asset Management is a service which most rental agencies provide, helping you to grow your property portfolio and increase your returns, whilst ensuring minimal risk.
Rental experts have access to thousands of clients who they will have provided in-depth credit checks on, ensuring that the chances of taking on responsible tenants is as high as possible. Not only is a tenant who pays their rent on time and takes care of a property important for the landlord, but it’s equally as important for the property rental company as well so you can be rest assured that you’re in good hands and don’t have to fret about late paying or poor quality tenants.
Are you a landlord looking to grow your property portfolio in London, or need some assistance in finding the right tenants for your property? Phillips Harrod are residential experts in London’s prime real estate, with extensive experience in London’s rental market. To find out more about how we can help you, contact us.