Tenant Find vs Fully Managed I The Property Fox Leicester
Posted on 22nd February 2023
The Pros and Cons of Tenant Find vs Fully Managed Services for Landlords
When it comes to managing a rental property, landlords have two main options.
Both services have their pros and cons, so it’s important to understand the differences between them in order to make an informed decision about which one best suits your needs.
Let’s take a look at what each service entails, the types of landlords who typically use each one, and the considerations that should factor into your decision-making process.
Tenant Find Service
Tenant find is exactly what it sounds like—a service designed to help landlords find tenants for their properties.
The letting agent will also conduct viewings and negotiate offers with potential tenants on your behalf, although you will often still need to be present for some of these activities.
Tenant find services are ideal for landlords who don’t have much experience in renting out their property or who don’t want to spend too much time or money on the process.
However, they do come with certain drawbacks—namely, that the landlord will still be responsible for all aspects of tenant management once the tenancy has been agreed upon.
This includes collecting rent payments, dealing with any maintenance issues that arise, and handling disputes between tenants and neighbours.
Fully Managed Service
Fully managed services are designed to take care of everything related to renting out a property—from finding tenants right through to dealing with disputes at the end of a tenancy agreement.
This type of service generally includes listing your property on various online platforms; conducting viewings; negotiating offers; drawing up tenancy agreements; collecting rents; carrying out periodic inspections; arranging repairs; responding to complaints from tenants; and handling deposits at the end of tenancies.
Fully managed services tend to be more expensive than tenant find services but offer a much higher level of support for landlords who may not have the time or expertise necessary to manage their rental properties themselves.
They are also ideal for those who want peace of mind knowing that everything related to their rental property is being taken care of efficiently by experienced professionals.
Deciding which type of letting agent service is right for you depends largely on how much experience you have in managing rental properties yourself, how much time you want (or can) spend on the process, and how much money you’re willing to invest in professional help.
Generally speaking, if you lack experience or want extra support throughout every step—from finding tenants right through until they move out—then a fully managed service is probably your best bet.
However, if you prefer more control over certain aspects such as marketing or maintenance then a tenant find only option may suit you better.
Whichever option you choose though, make sure that you do plenty of research first so that you know exactly what is included in both types of service offered by your chosen letting agent before making any commitments!
Thank you for reading and if you have any further questions or need advice please don't hesitate to contact us, we are here to help!
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Tagged as: Lettings
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