Self managed rental versus using a letting agent
The Tenancy Agreement Service makes life easier for landlords and agents by breaking down legal jargon. When laws are explained in simple terms, it takes away the fear factor and makes things less expensive.
The legal process for evicting a tenant in the UK can be complicated, so it's crucial that landlords have all of their ducks in a row before going to court. The first step is servings the tenant with an eviction notice - if this isn't done properly, it won't be considered valid. Then you need to file a court application - which again, must be error-free or you could face delays. If the judge rules in your favour at the hearing, then finally you can get bailiffs to remove them from the property.
Self-managing a property certainly has its advantages.
You have complete control over who you rent to, how much you charge and what maintenance needs to be carried out. But it's important to remember that being a landlord comes with a lot of responsibility - both legal and financial. Landlords need to make sure they're up-to-date with the latest legislation, and that they have the right insurance in place. They also need to keep accurate records of income and expenditure, and comply with tax regulations.
Fortunately, there are a number of online resources available to help landlords with all aspects of self-management. We are one such resource - provide access to a range of templates and documents, including tenancy agreements, eviction notices and gas safety certificates. Landlords can also find helpful advice on a range of topics, from energy efficiency to tenant referencing.
Why use a letting agent?
Some landlords choose to use a letting agent to manage their property, as it can take away a lot of the stress and hassle. Letting agents will typically carry out all of the above tasks on your behalf, as well as finding and vetting tenants, collecting rent and dealing with any repair issues. Of course, there is a cost involved - usually a percentage of the monthly rent - but many landlords feel that this is worth it for the peace of mind it offers.
Can a Landlord do their own Eviction Notices?
Yes, landlords can do their own eviction notices. However, it's important to make sure that they are done correctly, as any mistakes could lead to delays in the eviction process. Landlords can find helpful advice and templates for eviction notices online.