No one can predict the behaviour or likely hood that the tenant will pay the rent. We all know things happen! Life is unpredictable, credit scores are worthless and most people in this current climate is experiencing problems.
People are just people at the end of the day, Is a single mother with 3 kids less likely to pay the rent than a 28-year-old single man who has a full tome job, the answer is no one knows, and no one can predict the future. The 28 year old man could lose his job, and with no savings, he could then struggling to pay the bills.
The only way to protect yourself as a landlord is too put the odds in your favour.
Does your high street agent care about your tenant? No, they just want them to pay the rent so they can collect their management fee.
Does your agent care about your ROI, really, I don’t think so!
Does your agent care about keeping the same tenant in the property long-term? No, it’s better for them if they have a high turn over of tenants so they can collect more fee’s.
Well ask yourself this,
Would you start a new business partnership with someone if that person was just in for themselves?
If the answer is No, then why would you trust a traditional agent to manage your property.
As a property investor ourselves, we understand that managing a tenancy can be challenging at times, and if it’s not your main job, then we appreciate that it makes sense for you to outsource it to an experienced agent but this is why its vital that you choose the right company to manage your property and sometimes it can be the difference from making a profit or not!