Agents save landlords almost £2,000 per year
Using a high street letting agent saves landlords almost £2,000 per year, revealed new research from insurance company Endsleigh. The estimated figure was reached after a survey of 500 landlords, many of whom thought it was more cost effective to go it alone.
In fact, landlords can save an estimated £1,910 by using a professional letting agent who excels at finding tenants quickly, negotiates attractive rents and mitigates void periods.
The figures produced by Endsleigh speak for themselves:
* 76% of respondents reported that their agent helped them pro-actively find tenants, as well as providing other services such as help with legal and financial matters and so contributing to a reduction in overall costs
* 50% landlords using an agent were most attracted because of their local knowledge, and more than two in five claim that excellent service is a deciding factor
* 41% feel the main benefit of working with an agent is that it provides peace of mind
* 25% say they communicate with their letting†agent on a weekly basis
“Local knowledge, resources, contacts and professional tenacity is what’s needed when finding and keeping good tenants,” comments Debbie Pennell, the Lettings Director at Robinson Jackson. "Many landlords don’t immediately see the value-for-money in using a letting agent but many soon switch to our service when they can’t find a tenant after a month or two, creating a void period and rental losses that soon surpass the cost of our tenant find service.”
Robinson Jackson Lettings offer a tenant find, rent collection and fully managed service that ensures qualified tenants are found and rents hit bank accounts in the quickest possible time frame. With incomes from buy-to-lets being squeezed more than ever, using a letting agent to minimise void periods is crucial. Contact us now to save money and to find out more.