Is it wise to instruct a Property Agent during covid?
Hamilton Fraser conducted a survey to understand why some landlords opt for a letting agent while others choose self-management.
It found 48.3% of over 2000 landlords polled are self-managing and plan to continue, 27.3% are fully managed and 15.2% sometimes work with agents.
The most common reason landlords gave for instructing an agent is the time saving they can enjoy by leaving management to a trusted professional.
Self managing Landlord
The 2018 English Private Landlord Survey revealed that 45% of landlords in England possess only a single rental property, which is a key factor in their tendency to self-manage. Managing fewer properties requires less time, making the benefits of hiring an agent appear minimal, particularly for those who have secured reliable tenants.
During the COVID pandemic, over a quarter of landlords cited the implementation of COVID measures as their primary reason for hiring an estate agent. This indicates that the perplexing alterations to rental legislation at the time have underscored the importance of engaging a property professional to represent their interests.
Property agent during covid
Estate agents in England can resume work, provided they adhere to several guidelines. These include minimizing social contact, reducing the time spent inside properties, and following specific cleaning protocols.
We continue to follow key advice based on the Government guidelines to:
- Clean your hands immediately before and after the visit
- Minimise contact with surfaces during the visit and clean surfaces such as door handles afterwards
- Leave internal doors open and keep spaces free of clutter
- Restrict the number of people present, if at all possible
If property management is leaving you stressed, uncertain or time-poor, and you want to find out more about the services a letting agent can provide to relieve that burden for you, give me a call on 01207 772033 or email me at info@piim.co.uk
