As some landlords seek to take the DIY route, Belvoir Sheffield is warning of the many pitfalls of taking such as approach to lettings.
A new report from Direct Line for Business suggests that some landlords are branching out on their own.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent Sheffield, said: “These new figures are a massive cause for concern. Legislation and the law changes so frequently, and if a landlord is not fully updated and aware of what is required of them legally, then they could be faced with fines or even prosecution. Using a quality lettings agent ensures that both the landlord and tenant are looked after and that everything is above board.”
In a bid to save funds, the new report also found that landlords are also cutting the seemingly ‘unneeded’ costs of the correct insurances, leading to a somewhat shocking 18 per cent of UK landlords not in possession of the correct insurance. This puts the tenant, and also the landlord at risk.”
Rick, whose letting agency on Campo Lane in Sheffield, specialises in providing flats to let Sheffield, added: “Not protecting yourself with the right insurance is like a ticking time bomb, landlords can save money initially by scrimping on such necessities, but if things go wrong you are not protected whatsoever.
” I would advise any landlord unaware of their legal obligations to contact us at Belvoir Sheffield for a meeting to discuss this.”
Belvoir Lettings Sheffield is the One Stop Shop Specialists for residential property, for buying and selling, for lettings including property management, investment, and wealth management advice, fit outs and renovations, mortgages and conveyancing.
Belvoir Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013
For more information, on Belvoir Sheffield please call 0114 25 25 215 or email us at sheffield@belvoirlettings.com
