Using a letting agency can help you to save time and money and can help you to find a suitable tenant. This can also help you to increase the amount of property you own and protect you from unfair practices. Before researching for Glasgow letting agencies, here are some of their main benefits:
Finding A Suitable Tenant
Whether you are new to letting a property or have been letting properties for many years, you need to know how to find a suitable tenant. The demand for rental property continues to increase each year. However, finding a tenant can be a challenging task.
It is important to set clear expectations about the process. Make sure applicants are aware of the screening process, and document your reasons for choosing an applicant. This documentation can be used in disputes. If a tenant fails to comply with the terms of the lease, the landlord can use the documentation to seek a resolution.
Increase Property Portfolio
Using a letting agency to help you build a buy to let property portfolio can be a smart move. Many landlords are looking to expand their properties in the new year. The best way to achieve this is to find a top notch letting agency with a proven track record. A letting agency can also help you pick the best mortgage for your needs and advise you on the latest industry trends.
It isn’t surprising that more than one third of landlords plan on expanding their portfolios in the next year. A property portfolio can be a lucrative investment, with many properties proving to be a worthy successor to your day job. To be sure, building a property portfolio will take a bit of time, money and effort. However, with the right partners, you could be reaping the rewards in no time. For example, a good letting agency will have your back when it comes to negotiating the best rates on mortgages, maintenance and repairs, and finding a tenant.
Get Advice
Whether you’re a first-time renter or are moving into your second or third apartment, you should know how to protect your security deposit. It’s a good idea to read through the requirements for getting your deposit back before signing a lease. The amount of the deposit is determined by your state, but generally varies between one and three months’ worth of rent. It’s also important to know that a security deposit is not refundable for late rent or for damage to the property.
Many first-time renters find that they’ve been charged a higher security deposit than they expected. It’s common for landlords to ask for a lower deposit if the tenant has a good credit history, while a high credit score may require a higher security deposit. However, it’s also important to note that a landlord can keep the security deposit if the rent is unpaid or if the tenant pays late utility bills.