Last Updated on January 29, 2019
One of the dreams and aspiration of almost everyone is to have an investment that will bring in passive income. But there have been a lot of factors that have drawn people back from investing their money in one business or the other especially real estate property.
I have seen many people who have all the resources to invest in a business and then end up losing their money. It isn’t just about having the resources; it is about going through the right channel to invest in real estate property. You have a higher chance of losing in the investment of all kind if you have little or no knowledge of the business.
It is the primary reasons for specialist and experts in different professions. They have been trained on how to go about the business and ensure it is successful. They must have garnered experience over the years, and that is why you should always rely on their expertise.
Therefore, if you will be investing in any business, it is advisable that you hire a letting agent to help you through the process.
Who is a letting agent?
It is an individual who knows more about the business you are willing to invest in. He/she must have garnered experience in such field. Their role is to ensure you have a smooth communication and business transaction with another person.
The roles of a letting agent
You can invest in real estate property and give your property out to a letting agent to be in charge. A letting agent will be your face and your voice. All he/ she had to do will be listed below.
The letting agent will be the one in charge of the property management. Their responsibility is to ensure that the building remains in good condition. They are in cost of any improvement or maintenance of the property. Their role is to see to it that nothing goes wrong with the structure and must always give a report to the owner of the house or property.
Bargain with Tenants
This I was very familiar with while I was still a tenant. It took years for me to realise the letting agent isn’t the owner of the apartment. When I was about getting the apartment, he was the one I went to, and we had the agreement, and I paid.
So I packed in, and since then he does come around to see to the affairs of everyone living in the apartment and the condition of the building. Not knowing that he has to report to the owner of the house because he was just a letting agent.
Investing in property might appear to be a good thing to you and others, but it is time consuming especially if you are renting your property out. There are times that your tenants will need your attention and you have to be there.
It is one of the reasons you should hand over the property to a letting agent. The agent will be the one to receive all complaint and suggestion about the property and will take it to you at your convenience. There are some he/she will give responses without your permission. That’s why you hired a letting agent.
The letting agent will be the one to check on the property often. He/she will not be too far from the property and will see to sections such as cleaning, maintenance, damages, renovation and property improvement.
Once anything goes wrong in the apartment with any of the tenants, they are the one in charge to get it fixed either through their discretion or by getting the permission from the owner of the property. These are the benefits of hiring a luxury agent to help you through property investment.