There has always been a debate over which is the best way to rent out your property, on your own or with a letting agent.  There are of course pros and cons for any way and it ultimately comes down to what you feel comfortable with or have time for.   Many people forget that when you rent out a property you are not just claiming the rent each month, you also have a tenant and a tenant has demands and properties go wrong and require maintenance.

If you do not have the time to dedicate to your rental property then you must choose a local letting agent to take on your property.  If you feel you have the time then be prepared to do the job a letting agent undertakes, and this can include the following and more:-

• Rent Collection
• House Repairs
• Advertising and Marketing
• Tenant Vetting and Referencing
• Property Inspections

If you do rent out your property then it has to be done as a business, the income generated is taxable and has to be declared to the inland revenue, there are special property insurances that need to be taken on the house and importantly a buy-to-let mortgage has to be taken out with the bank.  If you want to take the strain out of renting a property it is advisable to hand over to a letting agent for a small fee they will undertake the complete process for you and this will allow you to focus on buying more rental property to expand the portfolio.