It’s another cost, margins are already tight and from what you’ve heard or read – they don’t do a good job. That’s where we’re different, giving you real property management, being your property partner and not squeezing you for every penny. Front Door is a Lettings agency in Bristol, helping landlords deal with their properties.
Managing your rental properties on your own can be rewarding, but it also comes with significant challenges, especially keeping up with upcoming changes in legislation. Many landlords who self-manage their properties often find themselves facing a growing list of responsibilities that become difficult to manage without expert help. If you’re one of them, this post will explain why working with a letting agent might be the best decision for your property, especially in light of new and changing regulations like the Renters Reform Bill, which is due to take effect in 2025.
The Impact of the Renters Reform Bill: You Need to Be Prepared
One of the biggest reasons to consider hiring a letting agent is the upcoming Renters Reform Bill, billed by Labour as the biggest change to the the private rental sector. Some of the key changes currently proposed include:
- Abolition of Section 21 “no-fault” evictions. This is the big one and what we find most landlords are concerned with. Landlords will no longer be able to evict tenants without a valid reason. This means the process for regaining possession of your property could become more complex. There are a few options already (regaining possession to live in, or to sell the property), but we will need to see if these are expanded with the removal of S21.
- New Periodic Tenancies. Fixed-term Assured Shorthold Tenancies (ASTs) will be abolished, meaning all tenancies will become periodic. Tenants will be able to leave with just two months’ notice (there is to be a minimum of 4 months tenancy before notice can be given) which could make it harder to plan ahead financially. Managing these frequent changes in tenancy can be tricky without a letting agent to handle the logistics.
These changes, along with the introduction of a Decent Homes Standard and a Property Portal requiring landlords to register properties, mean that the legal landscape is getting more complex. Having a professional letting agent who understands these nuances and can guide you through compliance is invaluable.
With fines that can run into the tens of thousands for being in the wrong. That’s a extreme case, but for example not operating with the right licence or incorrect number of tenants in a property can land you in big trouble with the courts. These are typically rouge landlords so we don’t feel sorry for those ones bringing down the rest of the industry.
Marketing and Letting Expertise: More Than Just an Online Ad
Getting the right tenants is not just as simple as placing an advert online. A letting agent brings a wealth of experience in property marketing, ensuring your property gets maximum visibility on the right platforms, such as Rightmove and Zoopla. Beyond this, they vet tenants carefully through referencing checks (credit, employment, rental history), ensuring that the tenants they place are responsible and reliable. Going forward you’ll either have to stipulate guarantor or no guarantor for the property and can’t cherry pick if this is required based off referencing checks.
Negotiating rent is another crucial aspect of an agent’s role. They understand the market and can set the right rental rates for your property, preventing you from undercharging or scaring away tenants with an unrealistic price. You don’t want to have a property marketed for more than the current market rate leaving you with a long void period that wipes out any gain in rental income. A good agent will have insights into the wider market and help forecast rental figures and where the market is heading.
Professional Relationships and Avoiding Tension with Tenants
Maintaining a professional relationship between you and your tenants is essential for the long-term success of your rental investment. Unfortunately, self-managing landlords often find themselves in situations where the lines between personal and professional get blurred, leading to breakdowns in communication and disputes. This can be as a result of meaning to do well, but then finding themselves having been taken advantage of, or not wanting to issue a section notice.
At Front Door Lettings, we have taken over the management of properties after serious breakdowns in tenant-landlord relationships, often caused by poor communication or unrealistic expectations. Sometimes it’s as simple as 2 people not getting on, or personal change in status. With a letting agent acting as a buffer, you maintain a professional distance, allowing us to handle rent negotiations, maintenance requests, and any disputes that may arise. This keeps any future interactions smooth and reduces the stress for both parties. Having someone in the middle takes the stress away from landlords who have other things to do with their time.
Property Management and Compliance
Letting agents do more than just collect rent. A good agent ensures your property is well-maintained and compliant with all current regulations, such as gas safety checks, EICRs (Electrical Installation Condition Reports), EPC’s and HMO licensing (if applicable). They manage contractors, conduct inspections, and keep up with the required documentation to protect you legally. We conduct a quarterly inspection on any property the landlord feels they need it on with no extra charge.
With the incoming Decent Homes Standard, landlords will be required to maintain higher standards of safety and property condition, with stricter timelines for addressing issues such as damp. A letting agent will stay on top of these changes and ensure you remain compliant, reducing the risk of fines or legal action.
Your Time is Valuable
Managing a property requires attention to detail, constant availability, and a significant time commitment. Whether it’s dealing with tenants’ maintenance requests, chasing overdue rent, or handling end-of-tenancy checkouts, self-management can be a time-consuming process. Sometimes you just don’t want a call about a boiler at 9pm on a Sunday.
By hiring a letting agent, you free up your time to focus on other areas of your life, knowing that your investment is in safe hands. Letting agents also provide emergency response services, ensuring that any urgent issues are addressed swiftly, whether you’re available or not. This means you can go away, enjoying life whilst not having your property be a constant source of headache that takes away from your enjoyment.
It could also be as simple as you don’t want the hassle of managing a property anymore or don’t live in the local area anymore. If that’s you, then it’s key to find a local agent who knows the area and local, reliable contractors.
Why Now Is the Time to Work with a Letting Agent
With the Renters Reform Bill expected to come into effect in Autumn 2025, the private rental sector is becoming ever more regulated. Landlords who continue to self-manage might find themselves overwhelmed by the increasing complexities of the law and tenant management.
A letting agent can help you navigate this changing landscape, ensuring you remain compliant, secure reliable tenants, and maximize your rental income, all while maintaining a professional relationship with your tenants.
If you’ve been managing your property alone, now is the perfect time to hand over the reins to professionals who understand the ins and outs of the rental market, so you can enjoy the benefits without the headaches.
