The True Cost of trying to be a self managing landlord vs. using a professional letting agent like Rockett Home Rentals to manage your buy to let

Posted on Thursday, February 29, 2024

The True Cost of trying to be a self managing landlord vs. using a professional letting agent like Rockett Home Rentals to manage your buy to let

The Allure and Reality of self-managing tenanted property.

At first glance, becoming a self managing landlord seems like a straightforward way to save money and maintain direct control over your rental property. The prospect is initially appealing—manage your property, avoid agent fees, and keep closer tabs on your investment. However, the journey from managing properties yourself to facing burdensome challenges can be quick and unforgiving.

The Burden of property management

Managing a rental property encompasses a broad spectrum of tasks that can overwhelm even the most determined landlords. From advertising your property and screening potential tenants to handling late-night maintenance emergencies and navigating the maze of legal requirements, the workload is substantial. These responsibilities not only demand time but also a deep understanding of the property market and landlord-tenant law. The question then becomes, are the perceived savings worth the exhaustive effort and potential for costly fines?

The Financial Illusion of saving on letting agent fees.

Many landlords turn to online letting agents as a cost-effective solution, believing it strikes a balance between hands-on management and professional assistance. Yet, when you closely examine the numbers, this approach's cost-effectiveness comes into question. Specifically, if you were to compare the fees of online letting agents with Rockett Home Rentals full management service, the difference is startlingly minimal—about £20 to £50 a month for Rockett Home Rentals full management service. This revelation begs the question: Are you genuinely saving, or merely cutting corners at the expense of both your property's well-being and your peace of mind?

Rockett Home Rentals: Comprehensive Care for a Marginal Difference

For as little as £20 to £50 more per month than what you'd pay an online letting agent to find a tenant and subsequently manage yourself, Rockett Home Rentals offers an all-encompassing solution to property management. Our services cover everything from handling maintenance issues and sourcing reliable contractors to conducting property visits, dealing with rent arrears or increases, performing inspections, addressing legal matters, and liaising with utility providers. This level of care ensures that every aspect of your property is professionally managed, alleviating the stress and time commitment typically associated with self managing landlords.

The Hidden Costs of Going It Alone

Beyond the direct financial comparisons, the intangible costs of DIY property management—stress, time investment, and the impact on personal life—cannot be overlooked. The stress of handling emergency repairs, tenant complaints, and legal issues can be extremely time consuming. Furthermore, the financial risks associated with potential property damage, legal penalties, and extended vacant periods often offset any savings made by avoiding professional management services.

Why Rockett Home Rentals Offers Exceptional Value

At Rockett Home Rentals, we understand that the value of a property management service is not just in the financials but in the peace of mind and freedom it provides. Our full management service is designed to offer landlords the best of both worlds—significant savings in time and effort, with the assurance that their property is in expert hands, all for a minimal additional cost.

Making the Switch: A Seamless Transition

Transitioning from a DIY approach or an online letting agent to Rockett Home Rentals is a straightforward process. Our team is committed to making the switch as seamless as possible, ensuring immediate relief from the daily burdens of property management. By choosing Rockett Home Rentals, you're not just hiring a property management service; you're choosing a partner dedicated to the care and success of your rental investment.

Rethinking being a self-managing landlord.

In conclusion, while the self managing landlord route might seem financially appealing at first glance, the hidden costs—in terms of time, stress, and potential financial risks—often outweigh the benefits. Rockett Home Rentals offers a comprehensive management solution that not only addresses these challenges but also adds significant value for just a marginal cost difference. We invite landlords to reconsider the self managing approach and explore how our full management services can transform their rental property experience. For more information and to discuss how we can assist you, contact Rockett Home Rentals today.

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