Bournecoast - Property Agents
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Why Landlords Choose to Use Agents!

April 2012

DORSET letting agents Bournecoast say that a recent survey provided some useful reminders why it's always best to use a letting agent to manage your property.

The survey was carried out by a national insurance company where they collated information from across a wide range of private landlords.

The results produced some useful reminders - not least how letting agents are able to justify the value of their service to landlords that might want to manage their own properties.

It revealed that two thirds of landlords owned fewer than 10 properties and 16% owned just one property.

Of all the landlords surveyed only 14% said that they would never use an agent but at least half said that they would (or already do) use an agent to collect the rent.

It was found that 89% of the survey respondents had funding outstanding on their properties and the overwhelming concerns (over 90%) for landlords was that rent was not paid late, only paid in part or worse defaulted on by the tenant.

Veronica StrongmanVeronica Strongman, Member of the Association of Residential Letting Agents (MARLA) and Director of Bournecoast said: "Only 14% would never use an agent meaning that 86% would. The reasons behind preferring to utilise the services of a reputable agent such as ourselves is also indicative of why we are finding that new and existing landlords move from the basic 'Tenant Find' to a 'Rent Collection' or 'Fully Managed' service. It provides peace of mind for our landlords who are running already busy lives without the added complication of trying to collect rent.

She added, "At Bournecoast we also have a very thorough referencing system to ensure that ingoing tenants have the means to pay the rents that they say they can, as a high proportion of landlords rely on the rental income to cover monthly mortgage payments with the rent. Understandably they are concerned about late or non payment."

Government figures recently revealed there has been a steady decline of home ownership in favour of an increased demand for private rental properties in the wake of the credit crisis.

Previously, Des Simmons, Managing Director of Bournecoast had said: "The impact of the recession has seen a structural change in the property market as can be witnessed by the additional quarter of a million new tenants who entered the private rental sector last year, which is an increase of nearly 25% on 2010's figures."

Today he added, "The current demand can only indicate that there will soon be more people in the private rental sector than social housing, which is another good reason for landlords to consider using agents. This will only add to the already saturated demand and supply imbalance in the residential lettings market and as a private landlord, times have rarely been better to maximise your rental income."

Bournecoast have been providing short and long term accommodation in the Christchurch, Bournemouth and Poole area for over 50 years and are still family run to this day. They pride themselves in providing quality properties and cater for both families and couples' markets.

For more information on renting out your property, visit www.bournecoast.co.uk or telephone 01202 437888.

In 2010 Bournecoast celebrated it's 50th anniversary and has been family run since it's inception when it was established by Major & June Webb in 1960. Keith Simmons MBE, the previous managing director and Major Webb's son-in-law, was then joined by his son and daughters, Des Simmons, Veronica Strongman and Anita Smith, who now run the company with a team of fifteen staff.

Bournecoast Property Agents have extended their skill base within the ever changing property market.

Over the past 50 years Bourneocast has invested in a skilled workforce, ensuring each member of the team enjoys dealing with people and property whilst ensuring their knowledge of the whole property market is second to none, providing advantage over most local agents.

Issued by:
Alex Eaton
Marketing
Bournecoast
alexeaton@bournecoast.co.uk
01202 437888

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Bournecoast Ltd
26 Southbourne Grove
Bournemouth
Dorset
BH6 3RA
Tel: (01202) 437 888
Fax: (01202) 437 889