Self-managing landlords are looking to use agents, a survey finds

Posted on: 13 March 2023

Self-managing landlords are looking to use agents, a survey finds

The majority of private landlords would look to use a letting agent in the future, a new survey by comparison site USwitch has found.

Over recent years the buy-to-let market has become a lot more complex with stringent legislation and legal property requirements to adhere to.

The survey of 2,000 landlords found that 63% are open to making the transition to use an agent, with almost a third saying they would switch due to the agents’ experience and knowledge of the property market.

There are of course many reasons why we as an independent agent in Sussex and Surrey would recommend using our vital services – but one of the most common reasons cited in the survey was to have agents manage their repairs. Add to this USwitch says that on average, property maintenance consumes a fifth of landlords’ income.

Other reasons for making a switch include no longer having to deal with legal requirements, no longer having to find tenants, and avoiding scams/fraud.

USwitch spokesperson Kellie Steed says: “With both the Renters Reform Bill and higher interest rates on mortgages having a huge knock-on effect on the residential property investment market, some landlords may find the coming months more challenging than usual. While it can feel like selling up is the only option, there are other ways landlords can keep profits afloat during the cost of living crisis.

 “Switching to a letting management company offers some attractive advantages, and gives landlords the scope to hold onto their investment. Property managers have a strong knowledge of the market’s changing regulations and can also take on much of the responsibility of owning investment property: lettings, repairs, rental disputes and complaints can all be tackled by an agency. Many offer increasingly alluring packages for landlords.”

As an award-winning managing agent, our team at Clarendons can easily take care of  all of your landlord responsibilities– so be sure to check out our services if you are thinking of instructing an agent.

Alternatively, please do give us a call on 01737 230 821 to chat about your options.

Share:


Recent Articles

25 March 2024

Winner For Reigate

Clarendons have just won the British Property Award for Reigate for the third successive year, and are also holders of the 2018-2019 & 2019-2020 Gold Winner Letting Agent in Reigate awards. Their team performed outstandingly throughout the extensive judging period, which focused on customer...

10 November 2023

What Does The Delay On The Ban On ‘No-Fault’ Evictions Mean For Landlords & Tenants?

This week the Government indefinitely delayed plans for a ban on Section 21 evictions in England and Wales. Ministers had initially pledged to end the right for landlords to evict tenants without needing a reason back in 2019, but they have now delayed it until after the court system is...

20 October 2023

Going Green: Why Epc Ratings Are Key To Selling Your Home

Saving money on energy bills has been high on most people’s agenda throughout 2023, and it is one of the biggest factors when it comes to making green home improvements. A study by Rightmove as part of its Rightmove Greener Homes Report 2023 found that 78% of homeowners say reducing...

Find out how much your property is worth. Get an instant valuation...