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3 Questions landlords should ask a managing agent

3 Questions landlords should ask a managing agent

Author: Pranil Maharaj
Date: 2017-10-06

In these increasingly difficult economic times, it would be wise for landlords (or those looking to get into the game) to consider working with a managing agent. This goes a long way in protecting your property as well as your rental income.

1. What can a managing agent do for me A managing agent is committed to ensuring that you find a suitable tenant that has been properly vetted and has the means to pay your rental. A thorough credit check and multiple references are gathered before a tenant is placed.

2. What fees will I have to pay Generally, agent fees are only payable on securing a tenant when a lease is signed for your property. Fees can be deducted from rental income received by the tenant.

3. What happens if my tenant doesn't pay on time, or at all We recommend using an insurance product at the outset of drawing up a lease. These can build in protection for up to three months' rental, as well as provide cover for unpaid utilities, damages and legal issues should you need to do an eviction.

Finally

There are many factors to consider and having an agent by your side could make playing the game of landlord much easier to win. The biggest value to consider with a managing agent is that they play facilitator in a dispute that could exist between a landlord and tenant, often coming up with a workable solution for both parties.