Almost three quarters of self-managing portfolio landlords say running their rentals has become harder, and 57% are now reconsidering whether they want to keep doing it themselves.
That’s the finding of a recent Rushbrook survey of 525 landlords who manage their own portfolios, most of them experienced investors.
Some 62% own six or more rental properties, and more than a third own 11 or more. If landlords at that level are feeling the strain, it says a lot about how much the job has changed since the Renters’ Rights Act came into force.
For Plymouth landlords asking the same question, we’ve looked at what the research shows and why the choice of letting agent matters, with insight from the lettings team here at Lang Town & Country.
The hours add up
For many landlords, self-management has quietly become a part-time job. The survey found 68% spend 31 hours or more each month on their rental properties, with a further 17% spending between 21 and 30 hours.
Maintenance and repairs take up the most time, named by 52% as the biggest drain. And because there are only so many hours in a week, 77% admit they regularly put off non-urgent maintenance because they can’t find the time to arrange it.
Small jobs left too long tend to become bigger, more expensive ones, and they can also leave a landlord exposed when it comes to property standards.
Compliance is the biggest worry
While maintenance eats up the most time, compliance causes the most stress. When asked why they would consider using an agent, the top reason was keeping on top of legislation and compliance (26%), followed by saving time (21%), reducing stress (15%), dealing with tenants (11%) and managing maintenance and repairs (9%).
It’s easy to see why. The new tenancy rules that took effect in England on 1 May raised the stakes considerably. Councils can now issue penalties of up to £7,000 for certain breaches, while more serious or repeated offences can lead to prosecution or a civil penalty of up to £40,000.
Understanding where responsibility lies
There’s an important point for landlords to be aware of. Instructing a letting agent doesn’t automatically mean all legal responsibility passes to them – but with the right agent, you shouldn’t have to navigate that on your own.
Government guidance allows landlords to use agents to carry out their duties, and agents acting on a landlord’s behalf can also be held liable for breaches. Where responsibility falls depends on the specific obligation.
Under the Renters’ Rights Act, local authorities are expected to establish who was responsible for a particular breach and take action against the appropriate party, which can include the landlord. That’s why it pays to work with an agent who is clear about what they’re handling on your behalf and keeps the records to show it.
Right to Rent checks are a useful example of how this works in practice. If a landlord appoints an agent to carry out the checks and the agent accepts that responsibility in writing, liability for a civil penalty sits with the agent. Other areas of compliance aren’t always so clear-cut, and that’s exactly where experienced guidance makes the difference.
As one industry commentator recently put it, property management is increasingly a job of managing compliance risk.
At Lang Town & Country, that’s something we take seriously. We make sure our landlords understand their obligations, know exactly what we’re taking care of for them, and have the evidence in place to show everything has been done properly – giving them genuine peace of mind rather than assumptions.
What a good letting agent should give you
That’s where the choice of agent really matters. A fully managed service should take the day-to-day workload off your hands, but it should also give you confidence that the paperwork behind it stands up.
At Lang Town & Country, compliance sits at the heart of our lettings service. Our Compliance Officer, Hugo Oliveira, oversees EPCs, electrical safety and Legionella risk assessments.
We also handle the parts of letting that take up landlords’ time: arranging repairs and maintenance through trusted local contractors, managing tenant queries, and keeping track of renewal dates so nothing slips through the gaps.
Richard Rabin, Lettings Director at Lang Town & Country, said: “The Renters’ Rights Act has changed what landlords should expect from their agent. It’s not enough to find a tenant and collect the rent.
“Landlords need to know their agent is keeping on top of every requirement and can prove it. That’s the standard we hold ourselves to for every property we manage in Plymouth.”
Thinking about handing over the management of your property?
Whether you own one buy-to-let or a growing portfolio, we’d be happy to talk through how our lettings and management service works and what it could take off your plate. Get in touch with the Lang Town & Country lettings team today.
