Being a landlord is a rewarding way to secure your income while providing quality housing for tenants. However, according to a recent survey, 24% of landlords feel overwhelmed keeping up with changing regulations.
The main reasons landlords felt this way included finding the rules confusing and a lack of access to legal advice. For example, 16% didn’t know about licencing scheme changes, 12% were unaware of the new requirements for smoke and carbon monoxide alarms, and 10% had missed the news regarding proposals for minimum EPC standards. *
Keeping up-to-date with every announcement and making the necessary changes to your properties can feel like a full-time job. This has a knock-on effect on landlords’ mental health, with over half of those surveyed admitting they’d taken time off work.
So, what’s the easiest way to enjoy the benefits of being a landlord without the stress?
Other than carrying out time-consuming research, reading trade publications, and enlisting the advice of a lawyer, the survey showed that almost a third have a letting agent to help. 20% also believe employing a managing agent would make life easier. *
It’s certainly true that working in partnership with a trusted local agent can help you simplify the process of letting your property, especially if you manage a portfolio.
Whatever your situation and long-term plans, we’re here to help. Contact us to learn more about our services and arrange a lettings valuation.