Managing a buy to let property yourself is a big decision and for many it is dependent on where they live in relation to their rental property. How much time a landlord can dedicate to it is also a major factor – both in terms of managing the property and the time needed to keep abreast of the changing legislation.
It is also the price you put on that time, as some landlords will simply choose to self-manage to save costs on management fees. It may that as most landlords only have one or two rental properties, the perception is that the demands won’t be great, but the regulations are the same for a landlord who owns a single property or those who have multiple-property portfolios.
It is acknowledged by many that it is getting increasingly challenging to self-manage.
Well over a hundred pieces of legislation now govern the private rented sector and the penalties for non-compliance are tough. Not adhering to legislation can make the difference between regaining possession of your property or not, but also facing the penalties of non-compliance which can mean fines of up to £30,000 with right to rent check misdemeanours carrying a five-year prison sentence.
To help navigate the PRS, Pennington introduced a suite of ‘Pick and Mix’ services tailored specifically for landlords who prefer to self-manage, but who may be interested in support on some aspects of the letting process.
From property marketing and carrying out viewings, to conducting right to rent checks and getting everything in order for the tenant to take on a property through to leaving the property. We offer a regular or ad-hoc inspection service and can arrange for any maintenance or repair work to be completed by our trusted contractors, to keep your asset in the best condition.
- A menu type offering where you can pick and mix the services you need
- Help and support to navigate the private rented sector regulations
- Use the services as and when you need them
- Available to all landlords, not just clients of Pennington
- Additional services are also available on a bespoke basis
To find out more call us on 01394 337590 or email the letting management team on email@example.com