Becoming a landlord is not an easy decision and can be a bit scary, especially if you are renting out your property for the first time. It’s even scarier if there is no one in your acquaintance to guide you. That is where an estate agent Docklands comes in.
Here is our practical guide on how to land your estate agent if you are a first-time landlord.
The Costs of Being a Landlord
First-time landlords often don’t have any idea of the extent of costs in running a letting business. The initial investment is already a given, and beyond that, other costs may have slipped the landlord’s mind.
As a landlord, the first information you should know is the potential cost of hiring an estate agents Docklands. It will also provide you with a strategy in lowering the upkeep costs and repair bills. You can prepare your finances better if you know your potential expenses.
Common Mistakes Made By Landlords
Tackling something new always comes with some errors. This is but natural, and as a landlord, you will learn from the experience of others instead of committing the mistakes yourself. Some of the common mistakes committed by new landlords include treating being a landlord as a hobby and not as a business.
Landlords often fail to calculate things correctly, which could leave them in a horrible situation. They tend to overestimate rent rates and not take the costs into account. One of the biggest mistakes that they often make is not having the right people by their side.
Although you have expertise in running the business, employing a high-quality estate agent Docklands can solve any possible issues you will encounter in the future.
The Best Way to Hire an Estate Agent
Ask your family, friends and colleagues for referrals if they know an estate agent Docklands. Aside from asking them for referrals, you can also inquire about their experience from listing their rental property to closing a tenant. The best estate agent will take time to get to know their clients and guide them throughout the transaction.
Compare Your Potential Estate Agents
To find the right estate agent, you should not settle with the person you met. Take a look at their websites and get feedback from their past and present clients. Read their reviews to get an insight into what to expect when you hire this agent.
Review the Contract
Hiring an estate agent Docklands entails signing a contract. Before signing on the dotted line, make sure you have read and analyze its contents properly. It is worth knowing the fees, the length of the contract and what is included in the services.
Consider Hiring an Agent Who Knows the Neighborhood
Holding the right credentials is only half of the requirements in finding the right estate agent. Finding someone familiar with the area is also a necessity. Finding an estate agent specializing in the Docklands market will help you find the rental you are looking for or sell your property faster.
We hope that we can help you with finding the estate agent you need for Docklands. At Fisks London, you can find an estate agent who knows the local market within the area well. Take advantage of their 15 years of experience to achieve the maximum value for your property.