As weekly rents across London are increasing, and more property owners are choosing to purchase buy-to-let properties,London estate agent Hurford Salvi Carr highlights that the benefits of instructing a lettings agent far outweighs the task of doing-it-yourself.

The performance of today’s rental market has made buy to let property a popular choice for both the experienced and novice investors. However, Hurford Salvi Carr highlights that the responsibility and time involved in successfully managing, a buy-to-let property can be a challenge and suggest investors choose to employ the use of a professional lettings agent.

In instructing an expert letting agent, owners benefit from trained and knowledgeable staff in all areas of property letting. Lettings agents are better able to secure increases in rent and negotiate new agreements with existing tenants at the renewal of the tenancy. They are also more proficient in the preparation of Tenancy Agreements, in meeting deadlines and experienced at filling out paperwork on a regular basis.

Mason Brooks, Docklands Lettings Manager at Hurford Salvi Carr comments: “By instructing a lettings agent, owners are removing the burden of having to track their properties on a day-by-day basis. Unnecessary and time-consuming communication with tenants and the constant need to be current with new legislation can be daunting. Each Hurford Salvi Carr lettings agent is ARLA (Association of Residential Letting Agents) trained, and keep constantly up to date with new legislation such as the Tenancy Deposit Scheme and HMOs.“

One distinct advantage to instructing a lettings agent is the direct relationship they share with specific relocation agents. These agents, who are responsible for finding rental properties for high-profile corporate professionals, use only the services of established lettings agents including Hurford Salvi Carr as the search for individual private lettings is simply too prolonged.

Generally, a fee of 10% of the annual rent achieved for the property is payable to a letting agent, with a renewal fee paid at the beginning of each new year.

Mason Brooks continues: “We encourage our clients to retain their tenants after the first year lease has expired. Firstly, we will have established a relationship with the tenant and know that they are responsible, and secondly, by retaining them, owners avoid the period in-between leases where no rent is paid.”

For information on lettings opportunities in the Docklands and surrounding areas, contact Mason Brooks at Hurford Salvi Carr, Limehouse Basin, on 020 7791 7071. For information on lettings opportunities in the City and surrounding areas, contact Kari Trager at Hurford Salvi Carr, Clerkenwell, on 0207 490 1122.

Aug 30, 2007