Property renting is becoming more and more regulated in the UK, in fact there are now over 400 different rules and regulations regarding BTL1, and failure to comply could result in a fine of up to £30,000. It’s become somewhat of a mind field for the DIY landlord to keep on top of it all, that’s why we feel that having your property managed by a registered letting agency such as Intercounty is worth considering.
The legal situation regarding renting to tenants has become complicated, there is so much you have to tell tenants about renting your property, as well as making sure it complies to safety regulations and that you put their security deposit in a registered scheme. That's why it makes sense to invest in the services of a good letting agent. If you take on a fully managed service with Intercounty, for example it will cover everything from arranging an Energy Performance Certificate, to advising on compliance issues, to collecting rent on a monthly basis to providing HMRC compliant monthly statements and much more so that you can spend more time on enjoying your investment rather than being weighed down by day to day concerns.
Not only will you have less stress if you use a managed service, the fees are also tax deductible, which means that the real cost to the landlord is 20% or 40% cheaper than the gross charges from an agent.
If you would like more information on Intercounty’s award wining landlord and management service why not follow this link.