As the private rental sector falls under increased regulatory and financial pressure, Paul Shamplina, founder of Landlord Action, urges landlords to use letting agents. Read on to find out why.
Why should private landlords use a letting agent?
Paul Shamplina, TV Star and Buy to Let expert, urges landlords in the private rental sector to use letting agents due to the dramatic increase in regulations and pressure on the property industry. During Covid-19, there were a total of 47 regulation changes which made it difficult for many landlords to keep up with, especially those with smaller portfolios.
Shamplina has asked landlords to seriously consider using a letting agent to help with their properties and to undertake the regulation side of things, even if they have not considered using one in the past.
He states that these 47 changes made to regulations during the pandemic alone make it: “essential that they have a letting agent on their side albeit the correct agent by picking the right one, which is very important”.
He has also expressed the current struggle for agents requiring more landlords to maintain stock levels, following the global pandemic:
“Letting agents are increasingly looking to upgrade their service from let only to full management; the days of let-only are numbered,” says Shamplina.
How can Rickman Properties Limited help?
Many landlords may have thought to self-manage their London properties. However, with regulations seeming to be constantly changing, this becomes a more challenging task every week. Ultimately, the benefits of professional property management and good letting agents can make the lives of private landlords much easier as they can handle day to day tasks such as rent collection and property inspection, as well as the mass of legal requirements and regulation changes for residential lettings.
It is hard to find a good agent that will take care of your portfolio and keep your worries to a minimum, but once you find that one agent, it frees up valuable time for landlords and makes the process of letting a property much smoother. At Rickman Properties, we have specifically trained staff to handle every management issue. Anything from basic accounting procedures to serving legal notices and overseeing repairs!
Read about the benefits of professional London property management
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