Is it wise to instruct a Property Agent during covid?
Hamilton Fraser recently carried out a survey to find out why some landlords use a letting agent but others manage themselves.
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 found that 45% of landlords in England own just one rental property which is the main reason they are likely to self-manage. Smaller portfolios are less of a time commitment so the advantages of using an agent can seem less, especially if they have been lucky enough to find good tenants.
More than a quarter of landlords said, during COVID pandemic, their main reason for instructing an estate agent was due to their covid measures put in place – suggesting the confusing changes to rental legislation during this time has shown the true value of having a property professional acting on your behalf.
Property agent during covid
Estate agents in England have been told they can go back to work, providing they follow a number of guidelines. These involve minimising social contact, keeping time inside a property as low as possible, and ensuring certain cleaning procedures are followed.
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