Don't forget too that residential letting agents will be helping your property investment become the success you want it to be.
However, a bad letting agent will create stress and worry, while a good letting agent will make your life much easier.
Indeed, finding a good letting agent in Manchester means they will be working proactively to find you good tenants, handle the paperwork and do this for a reasonable fee.
Here are some tips from the team at Bergins who currently look after more than £20 million worth of investment properties for a wide range of clients.
Decide on what you need
Letting agents offer a range of services so you need to decide on what you need them to do: either for them to manage the property or offer a tenant finding service.
Finding tenants means the agent will charge a fee for finding them and deal with the tenancy agreements. They will also collect the rent.
A property management service includes finding quality tenants and dealing with issues that occur such as property repairs and maintenance and chasing up late rent payments.
Local letting agent research
With all rental property investments, research is key so you should consider a shortlist of potential letting agents in Manchester.
You should check any reviews, particularly from other landlords, and speak to the agent to see whether they give a good first impression.
Consider letting agent fees
Quality letting agents will be crucial to enjoying a successful property investment in Manchester.
However, that means they will charge a range of fees, with a full management offering usually being 15% of the monthly rent.
A tenant-finding only offering will be around 10%.
Remember too, that it is now illegal to charge fees to tenants for references and inventories so be wary of any agent that wants to do so.
Check letting agent memberships
It's important that your letting agent is registered with the Property Redress Scheme and the Property Ombudsman Service.
They should also be a member of a professional body such safeagent, or Arla Propertymark.
Money protection schemes
Another crucial legal consideration is that your tenant's deposit needs to be placed in a tenancy deposit protection scheme.
This could be a big financial mistake to make if the deposit isn't held securely and the tenant isn't informed.
In addition, letting agents must now belong to a client money protection scheme (CMP) that has been approved by the government if they are holding client money. They must have a certificate confirming this membership and display it prominently on their website and offices.
Finding the best Manchester letting agents
Essentially, these are the important considerations when it comes to finding the best Manchester letting agents to ensure that your property investment is a success. The friendly Bergins team help property investors find homes in the Manchester area and can find quality tenants and manage those properties on a daily basis successfully, so call them today on 0161 945 6937 to find out more.
