Why it's better to have a fully managed property

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21 May 2018

Why is it better to have a managed property?

Author: Richard O'Neill

There is a common misconception amongst landlords that paying for a managing agent reduces the profitability of your portfolio. With many landlords realising the true value of a managing agent when it’s too late.

One of the most commonly overlooked benefits is that managing agent’s fees are a tax deductible, allowable expense meaning the cost difference between a let only service and fully managed is often a lot less than you think.

Typically let only fees are paid upfront and so fall into one tax year whereas management fees are paid monthly and so are spread across two years softening the blow.

When you consider how much time you can save by delegating the management of your property to a professional and the added bonus of the tax break, the extra monthly cost is negligible! When looking at the below table you can see that for just £41 more a month, you get access to a whole host of additional services each designed to protect your property and your profits!

Romans Lettings Managing Director, Richard O’Neill comments; “With the penalties for non-compliance getting harsher and the legislation growing in complexity, more and more landlords are opting for our fully managed service.

When factoring in the tax saving and the peace of mind that you’re let is covered by our compliance team, the extra £41 a month is money well spent.”

If you would like to find out more about upgrading to our fully managed service, call 01344 985 870.

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