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About
When the 2008 financial crash occurred, it was a close call for Ashley and Alan. Working in the financial services industry, they could have easily lost their jobs. This severe worldwide crisis emphasised to them the advantages and importance of having an alternative means of income to be resilient to any future income shocks.
They became property investors and decided to educate themselves in this area. They have expanded their property portfolio across England and are continuing to grow this today. Like many other property investors, they are still in full-time employment. Due to the remoteness of their portfolio (they are London based) and the time they have available, they have chosen to have letting agents perform the full management of their properties, while they focus on enjoying their jobs and lives.
This guide has been compiled from Ashley and Alan's own research, their personal experiences of what they have learnt since first using letting agents in 2009, and the experiences of other investors they know. They have been hosting a property mastermind group since 2019 where they have been working together for mutual support. It follows what they believe is a logical order for establishing and maintaining your letting agent relationship.
If you are a property investor who has experienced problems with the letting agents who manage your properties, or are considering remote management by a letting agent, and want to know the best way of doing it, this guide will help you.
If you are worried about your letting agent pressuring you to take on undesired tenants, being ignorant of the latest regulatory changes, being non-responsive to you or your tenant, not conducting regular inspections, not attending to repairs, charging you hefty fees, being slow in passing on the rent to you, or trapping you with punitive terms and conditions, you can minimise all of these problems by reading this guide.
The first section describes the different types of letting agents, how they differ in terms of cost and how to create a shortlist of potential agents who fit the minimum regulatory requirements.
The second section provides the key considerations and questions to ask a potential letting agent to help select the agent who is the best fit for your investment.
The third section considers the actions a landlord should take to reduce the risk of problems and potential liabilities, so as to stay protected and compliant even while the property is being managed for you.
The fourth section outlines the process for problem management, to help make problem resolution a smoother and more fruitful process, including strategies to terminate the letting agent relationship.
The fifth section contains case studies where the authors have applied the problem resolution process showing the results obtained and lessons learnt.
Finally, there are appendices which consist of The Letting Agent Questionnaire, Information to Provide to the Tenants and the Problem Resolution Flowchart which compress some of the key points in the guide into useful summaries for the reader.
They became property investors and decided to educate themselves in this area. They have expanded their property portfolio across England and are continuing to grow this today. Like many other property investors, they are still in full-time employment. Due to the remoteness of their portfolio (they are London based) and the time they have available, they have chosen to have letting agents perform the full management of their properties, while they focus on enjoying their jobs and lives.
This guide has been compiled from Ashley and Alan's own research, their personal experiences of what they have learnt since first using letting agents in 2009, and the experiences of other investors they know. They have been hosting a property mastermind group since 2019 where they have been working together for mutual support. It follows what they believe is a logical order for establishing and maintaining your letting agent relationship.
If you are a property investor who has experienced problems with the letting agents who manage your properties, or are considering remote management by a letting agent, and want to know the best way of doing it, this guide will help you.
If you are worried about your letting agent pressuring you to take on undesired tenants, being ignorant of the latest regulatory changes, being non-responsive to you or your tenant, not conducting regular inspections, not attending to repairs, charging you hefty fees, being slow in passing on the rent to you, or trapping you with punitive terms and conditions, you can minimise all of these problems by reading this guide.
The first section describes the different types of letting agents, how they differ in terms of cost and how to create a shortlist of potential agents who fit the minimum regulatory requirements.
The second section provides the key considerations and questions to ask a potential letting agent to help select the agent who is the best fit for your investment.
The third section considers the actions a landlord should take to reduce the risk of problems and potential liabilities, so as to stay protected and compliant even while the property is being managed for you.
The fourth section outlines the process for problem management, to help make problem resolution a smoother and more fruitful process, including strategies to terminate the letting agent relationship.
The fifth section contains case studies where the authors have applied the problem resolution process showing the results obtained and lessons learnt.
Finally, there are appendices which consist of The Letting Agent Questionnaire, Information to Provide to the Tenants and the Problem Resolution Flowchart which compress some of the key points in the guide into useful summaries for the reader.