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Buy to Let expert and TV star Paul Shamplina has been urging private landlords to use letting agents as the private rented sector comes under increased regulatory and financial pressure.
Shamplina says given this backdrop, landlords need to seriously consider using professional help to manage their properties even if they haven’t considered it in the past.
“There’s been 47 changes to regulation and law in the UK during Covid and for the small portfolio landlords now everything has changed massively,” he says.
“I believe it’s essential that they have a letting agent on their side albeit the correct agent by picking the right one, which is very important.”
Shamplina says he realises that letting agents need to find more landlords at the moment as many struggle to find new stock to list.
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“Letting agents are increasingly looking to upgrade their service from let only to full management; the days of let-only are numbered,” says Shamplina.
“I regularly work with letting agents on a one-to-one basis to help them track down more landlords and secure more full management contracts.”
Shamplina has made the comment following the launch of his new website which offers both training for agents but also courses for landlords on the pros and cons of self-management – for just £39 each.
“I have spent many years presenting seminars, tutorials and more recently online webinars about the buy-to-let business but one of the most common questions I’m asked is ‘should I self-manage or not’,” he adds.
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Far too many landlords – and particularly the ones who most need assistance to avoid the scenario’s that are shown on TV, still seek and appoint agents based on price not value.
Pay peanuts, get monkeys
Buy cheap, pay twice
It’s not to say that the most expensive agent is the best but as with most things in life, if the price is too cheap it’s usually for a reason.
Ironic this advice being a couple of articles below a list of Complaints against letting Agents. ?
A ‘ Good ‘ letting agent is hard to find, they are about though. trouble is the industry has never sorted out its dirty linen.