A recent survey has revealed that landlords are reluctant to deal with tenants face-to-face. This is why online agency is not the way to go for hands-off landlords.
The results of last month’s survey indicate that over 85 per cent of landlords don’t want to deal directly with tenants. An overwhelming majority of landlords are not happy about tenants calling or emailing them directly with problems, illness with 90% employing an agent so they do not have to handle property management and complaints directly.
The survey was carried out by online agents PropertyLetByUs and asked 500 landlords about their experiences of being a landlord of domestic property.
Obviously for those of us who have been in the industry for over a decade it is not exactly ground-breaking research. Many landlords are based out of the area or abroad, and so it is not practical for them to handle the day-to-day matters that occur in rental properties.
On top of those constraints there is always a degree of negotiating to be done throughout the tenancy, and if things go wrong or get difficult to negotiate it can be time-consuming and challenging to find a resolution without the third-party influence of a good agent.
More Stressful than a full-time job
A massive 66% of those surveyed claimed managing their properties was more stressful for landlords than their full or part-time jobs. Dealing with tenant complaints was cited as the top cause of stress. We all know that stress is bad for our health, and should be avoided when possible.
Many landlords feel it is worth paying an agent to manage their property for them rather than be tied down to dealing with the minutiae of letting and management. In the scheme of things the money spent on agents fees is a very small proportion of the income from rental property If you compare this expenditure to the value of the time a landlord may spend dealing with tenant issues, and take into account that the fees are tax deductible, then it is a no-brainer for most landlords to employ an agent.
It makes sense to utilise a specialist to ensure a quick trouble-free let and a stress-free management package that puts you in charge without having to deal directly with tenants. Riley Marshall will do all this and keep you up to date with tax and Government legislation.
Why not speak to one of our helpful negotiators today to see how we can take the stress out of property letting and management?