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You may be asking yourself:

  • Why do I need to use a letting agent? 

  • Aren’t they just an unnecessary expense?

  • Surely, I can handle everything myself?

 

You can decide by asking yourself these questions:

  • Do I have all the knowledge and expertise I need in letting and property management? If not, am I prepared to gain this expertise by attending relevant training courses and by joining one of the landlord organisations? 

  • Am I able to keep fully up-to-date on changes in the Law (including changes made by the National Assembly)?

  • Do I know which mandatory and advisory safety checks I need to make to my property?

  • Am I prepared for mandatory licensing of landlords which is being introduced by the Welsh Government? 

  • Am I able to market my property effectively to potential tenants?

  • Am I clear on what the target market is for my particular property?

  • Do I know how to credit check and obtain references for potential tenants?

  • Will I know how to carry out immigration checks on potential tenants when this becomes a mandatory requirement?

  • Do I know which type of Tenancy Agreement I need and what terms it needs to contain?

  • Do I know what the legal requirements are for handling deposits?

  • Do I know how to put together a professional inventory for my property (in case of any disputes about its condition)?

  • Have I got a set of reliable, professional tradespeople to carry out repairs to my property?

  • If a tenant does not pay their rent or if they don’t keep to the terms of the Tenancy Agreement, do I know what to do and how to handle the issues legally?

  • If I need to evict a tenant, do I know how to do this?

  • Do I know what to do at the end of the tenancy?

  • Do I have the time to let and manage my own properties?

 

If your answer to all these questions is “yes”, then you will be able to let and manage your own properties without any difficulty. If you answered ‘No” to any of these questions, then you do need the help of a letting agent. Perhaps not for every issue but at least for some of the issues you need to handle as a landlord.