First-time landlords ’should use approved letting agents’
Inventors thinking about entering the buy-to-let market and becoming a landlord have been warned “there is a lot to know”.
Private rented sector expert at LettingFocus.com David Lawrenson explained it is a “good idea” to use a professional organisation that has been approved by the Association of Residential Lettings Agents (Arla).
He claimed it is “not easy” renting out a home and yet more and more people are looking to do just that.
However, using a letting agency that is a member of Arla will mean they are likely to be “quite good” and landlords will have “some protection”.
It was suggested that if individuals are aware of their responsibilities and all the legal duties they are required to conduct, they could find becoming a landlord is profitable.
Mr Lawrenson advised people they need to “maintain the property properly and have gas safety checks done” among other things.
His comments follow a recent report from Cluttons that revealed rents fell by 0.4 per cent in the fourth quarter of 2011 in central London, with a further drop expected in the spring.
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