Letting agents make having a rental property more manageable, especially if the real estate is located in Dublin’s city centre.
You may think that it would not be difficult to make your rental property profitable because it is in a prime location. You may also have this notion that you can easily get tenants who would agree to your terms, particularly the fees.
Well, it’s fair to make these assumptions given your property’s location. But you have to realise that making your rental property a successful investment requires more than just finding tenants quickly. In fact, getting renters is just one aspect of this business. You also have to take care of compliance requirements, maintain the property, enforce contracts and deal with tenant issues, amongst others.
Suffice to say, renting out a property can be time-consuming, stressful and complicated which is why it is best to hire letting agents in Dublin’s city centre.
Reasons to Hire Letting Agents in Dublin’s City Centre
Have Excellent Location Knowledge
What sets letting agents in Dublin’s city centre apart from others is that they know the area well. You can consider them as locals who are familiar with the neighbourhood.
They are experts when it comes to the rental scene in this area. They have first-hand information about the city, including developments that can have an impact on your rental business.
For example, they would know if the local government is planning to impose additional taxes on for-rent properties. They would also be aware of the prevailing market conditions – i.e., if it is a renter’s market or not.
Knowledge about important matters such as those mentioned above can benefit your business. You can prepare beforehand for these changes or make the necessary adjustments to ensure that your property continues to generate money.
Get Good Tenants
Yes, it is important that you fill the vacancy fast. But what matters more than filling these vacancies quickly is getting good tenants. You want renters who adhere to the terms of the contract, specifically paying on time and caring for the property.
Letting agents help you secure good tenants. They employ a meticulous screening process to find out the background or reputation of the applicant. They call their references, including previous landlords. They also conduct credit checks to know if the applicant has the capacity to pay the rent and to know if he/she has a history of delinquent payments.
Simply put, in sought after locations like Dublin’s city centre, letting agents can help you weed out the bad tenants.
Have Extensive Network
Building relationships with numerous people is part of a letting agent’s job. The longer the agent has been in the industry, the more extensive the connection.
Their vast network is one of the reasons why they have access to great tenants and can fill vacancies quickly. It is also because of these connections that they are able to access information that others may not be privy to.
Keep Vacancy Rates Low
Having low vacancy rates is one of the hallmarks of a successful rental property. When the property doesn’t sit idle for weeks or months, landlords avoid losing money.
One way to prevent rental property vacancy is to keep tenant turnover rates low. Aside from the hassle it brings, high tenant turnover rates can be costly for landlords.
But this is not an issue you’d have to worry about if you work with letting agents because getting good tenants is their priority. Plus, with their excellent property management skills, they can keep tenants happy which minimises the chances of them not renewing their lease.
Letting Agents in Dublin’s City Centre Help Build Successful Rental Properties
Clearly, working with professional letting agents can benefit you in numerous ways. It is a smart choice if you wish to turn your property into a truly profitable investment.
These experts can help you seamlessly navigate the complex business of leasing residential or commercial properties. You can count on them to ensure that this venture becomes a reliable source of income for you.
You can also trust them to build a good brand, the kind that tenants would love to do business with. Having a good reputation as a landlord is important if you plan to expand your business by owning several rental properties.
In summary, letting agents are your partners not just in getting good tenants or managing your property but in growing it. They are going to help you build a profitable rental property business minus the stress.
Are you looking for letting agents in Dublin’s city centre? We have a team of experienced and trusted letting agents who have helped numerous landlords profit from their rental properties. Call us now at 014959020 or leave us a message on our website to learn more about our services!