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Money Saving Tip - Rental Income

Wednesday 22nd February 2012 6:48 PM

If you rent out property you may consider using the services of an Estate Agent. There are some merits to using these services.

It is risky to rent out your property (an expensive asset) to the first person who agrees to move in. Putting a sign in the window of the flat/house which you wish to rent out, only attracts those who are passing. This reduces the amount of applicant from which you can choose.

Recently I contacted several Estate Agents to ask about their charges, and what services they would provide. Several were too expensive and a couple just did not instill confidence in me. I choose a company called Onwards and Upwards, who's services included showing around the prospective tenants, credit checking and signing the contacts.

A good agent will give you valuable advice such as the preparation of the property which House Doctor would call it staging, and vital advice on the legal aspects of renting out property. I was not aware of several statutory requirements needed.

If you are renting out property yourself, remember that Estate Agents fees are tax deductible,,,,,,,,, why do all the legwork yourself ?

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