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Landlords should wise-up, not sell-up - and use a lettings agent

Agents’ trade body Propertymark says landlords should wise-up by using a letting agent to improve yields, rather than sell-up because of uncertainties surrounding the private rental sector. 

“Anyone thinking of selling their buy to let properties should make sure that they have considered all the alternatives before taking that big step” says the organisation, suggesting that even if they are not currently using an agent, landlords should consult one before selling to ensure that every option for improving returns has been explored. 

Propertymark continues: “Almost everything can be overwhelming when trying to tackle it alone. Just as nobody would think twice about consulting a solicitor for legal advice, the first port of call for advice on landlord issues should be a highly trained Propertymark expert. Whatever the problem faced, there will be options to explore, and solutions to be found.”

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It insists that despite the increased restrictions on landlords, with more likely to come through an imminent Rental Reform White Paper, a decision to quit the sector “is likely to be premature and ill-advised.”

Propertymark says its own data from agents suggest that rents have increased over the past three months while voids are at their shortest for many years and high numbers of tenants are seeking properties. 

 

The organisation adds: “Navigating the requirements of being a landlord is not easy, particularly for someone new to the experience or who lacks the time or expertise to keep on top of evolving demands. 

”Propertymark agents are professionals who are required to be trained to a higher standard than the law demands and can offer advice and support to make the experience of being a landlord simpler. They understand the pressures that landlords are under and can cut through the jargon and confusion to provide the answers and solutions needed, whatever the situation.”

The organisation has a number of landlord guides, available here.

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.

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    At present every thing is going well, but what's around the corner in that yet to be published white paper ? At present I don't want to sell anything but if I'm pushed into a corner with unreasonable demands then reluctantly I'll be out.

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    Landlords do indeed need to wise up and effectively manage their agents. In my experience even so called reputable agents make errors that can compromise a landlords position. That's why landlords need to stay on top of legislation and ensure their agents are compliant.

  • George Dawes

    I let my shops without a commercial agent as they’re all useless parasites, my residential on the other hand always use a reputable estate agent , I use Strutt and Parker and they’re excellent

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    Well I have to disagree with this article, it is not all about yield, most LL’s let at below market rent anyway, it is about all the legislation now and what is to come…. If the EPC C comes in then the game is up for me and I suspect a lot of others. I will not spend 10”s of thousands of pounds on my properties to get minimal ROI, I am due to retire in the very near future, making a few extra quid a month is not the be, and end all.

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    Just dragged out one report on one of our properties - assessor says we should install
    solar photovoltaic panels at cost of £9,000-£14,000 for typical savings of £247 per annum,and floor insulation at £800-£1.200 to save £68 a year - are these people living in the real world?

     
  • Matthew Payne

    Propertymark simply trying to justify their existence and their ever increasing membership fees once more, but badly.

    "Landlords should wise-up, not sell-up ...the first port of call for advice on landlord issues should be a highly trained Propertymark expert" Thats right Propertymark, the PRS is shrinking because all those clueless idiots called landlords, haven't the foggiest idea what they are doing, and employing one of your agents will solve all their problems. I would be embarrassed to have my agency represented with this nonsense.

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    Watch, ITV tonight 8.30pm on about high rent in private rented sector and loose your home, this program is a prelude for rent cap make no mistake. I bet they won’t dwell on the high costs being imposed on us by Regulation and licensing Schemes etc, we’ll see.

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    I'll have a large single malt by my side and no doubt will be shouting at the TV which will P my wife off a treat.

     
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    What a biased stitch up unbalanced Program. Why weren’t Landlords represented, why was there no mention of all the costs imposed on LL’s Why has ITV got a broadcasting license, it certainly isn’t Independent. Never mentioned why Section 21 was introduced, never mentioned the 2004 Act, never mentioned 2015 De-Regulation Act, never mentioned Section 24, never mentioned taking away our Deposits and replay with a ponzu scheme, never mentioned licensing Schemes £1200 to £1500 Application Fee, DEICR, fire Regs, Right 2 Rent, How 2 Rent. EPC’s, Accreditation, Courses, do I need to go on. Paul didn’t do us justice either going along with the idea that LL have too much power when all LL’s rights have been removed & too scared to visit the property in case we upset someone. how can you run a business on tender hooks like that, of course it suits him to say that he fronts a Company that want to introduce a LL’s redress Scheme to may another killing like Deposit Schemes. I told you all before the program what to expect, never mentioned any of huge costs that we are burdened with and expected to absorb, nor did we have any representation as property owners and main players in the Business, What’s this women thing with children no father figure or father contributing but expect be kept on benefit for life and now dictate to private LL’s that they should house them, call all the shots and how everything should be, give me a break. I notice you are all staying very quiet probably still suffering from shock & total injustice.

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    A bit like the government they will say what the public want to hear

     
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    There used to be a phrase "The lunatics are running the asylum" in Britain it is clear the Nazi hate gangs claiming to represent tenants are the ones running this asylum

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    I always let my own properties, every letting agent I have come across have been totally incompetent, the first one I used was taking deposit monies and using it to run the business

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