Is DIY Lettings Turning Out to be a False Economy?
To all the DIY landlords out there: Just how much of current regulation do you adhere by? I receive quite a few phone calls asking about the incoming legislation (most notably the Tenant Fee ban) and my first question is, “What is your current mode operandi?” A lot of changes have been thrust upon the lettings market in a relatively short space of time (I still get landlords asking me what an Energy Performance Certificate is at times) and it is very difficult to keep on top of it, especially while you work your day to day job. Even though there are legitimate risks of large fines for non-compliance, it seems many landlords are so focussed on the bottom line that they have skipped through quite a bit of compliance to ensure they are maximising return (a stance obviously not to be laughed at by any stretch of the imagination).
An alternative view though is to spend a little and earn a lot. WitLet allows you to build your own initial fee that keeps you completely compliant with ALL legislation, delivers a professional lettings service with a comprehensively referenced tenant(s) (considering the challenges GDPR is set to introduce) and furthermore, can delivering this for a low 3.5% rent collection fee (from month 2 onwards). This can keep your let completely compliant while also preserving your bottom line or (worst case) your form 6a will stand up in court!
Contact WitLet today for more information on 01376502500 or email us at info@witlet.co.uk
