Landlords Association Trending Mashroom – Letting & Managing your property yourself

Mashroom – Letting & Managing your property yourself

Mashroom

Mashroom what do they offer?

Letting agents can remove the headache of managing a property. However, many landlords manage their properties themselves.

Mashroom is the perfect solution for landlords letting & managing their own properties. Mashroom is a service provider to the British Landlord Association members.

Mashroom is a discounted service for all BLA members.

Should you use a high street letting agent, an online letting agent or let your property out yourself?

There are more options on how landlords can advertise, let and manage their properties than ever before.

You can opt for a traditional high street agent that can fully manage your property for you or an online agent that just offers tenant-find services.

Each has compromises, but if you want to let your property out yourself and receive the best of both worlds, you can use Mashroom.

In this article, we’ll compare the high street letting agents, online letting agents and Mashroom on the following key considerations:

Time
Money
Expertise
Rent collection

How much time does it take to find a tenant?

Online letting agents will generally need you to do a lot of the leg work yourself. That includes writing your own description, pricing and valuing your property and making sure your property is compliant.

Using a high street agent means there’s less of this to do yourself. However, it can still take up to a week before your listing is live. They will need to take photos, set the price, write the advert and get it live on property portals alongside other properties that they manage.

High street agents will conduct viewings for you, but you likely won’t get to speak to the tenants yourself and could cause issues in the vetting process. Letting agents just want your property let and will likely not spend a lot of time scrutinising your tenant.

With Mashroom, your property advert can be live on Zoopla and Rightmove in just a few hours if you already have your property photos available.

You can do in-person viewings yourself, viewings via video or, if your property still has a tenant, they can do it for you. Mashroom has created a great way to incentivise outgoing tenants to hold viewings. Whether your priority is to be hands-off or to meet tenants yourself, Mashroom has an option.

Tenancy contracts are ready to be amended in Mashroom, so landlords just need to select the clauses they want adding or amended and tenants can e-sign there and then. No document printing needed.

How much does it cost to find a tenant?

The high street can be expensive. For fully managed services, you’ll often pay over 15% of your monthly rental yield to agents in London, and outside of London, you can still expect to pay 10-15%.

As the property is still legally your responsibility, input from you will still be required regarding repairs and most tenant queries.

With online letting agents, the cost is lower, but much of the burden is shifted to you as a landlord. Tenant-find services are offered, but much of the management of the property is on your shoulders.

With Mashroom you can advertise your property on Rightmove and Zoopla for free. You can manage the property using the Mashroom online dashboard of property management tools such as booking maintenance straight on the platform (without any markups!).

You only have to purchase what you actually need, with their extensive selection of optional add-on services such as insurance, gas safety certificates and EICRs.

Mashroom Expertise

High street letting agents offer perceived expertise – they can manage complex-sounding tasks like Right to Rent checks and property safety checks. Chances are online agents won’t take care of these.

Thankfully, these checks aren’t as tricky as they are made to sound. Mashroom provides support with Right to Rent checks with preliminary checks via our partners when you purchase referencing (at £15 a head) through Mashroom.

Support is on hand from the professional lettings team, too, should you need it.

Rent collection

On the high street, a tenant-find and rent collection service will likely cost you 8-12% of the monthly rent collected, possibly more if you’re in London – a steep cost. Once your tenants have been found, they will collect rent for you via standing order from the tenants and transfer it to you each month.

This service isn’t really offered by many online agents.

But with Mashroom, it’s available for free. You can still monitor all the payments, but Mashroom facilitates the transfer, ensuring payments are on time and correct.

The payments are then tracked and reported on your dashboard, making it easy to see your income and outgoings. When tenants forget to pay their rent, Mashroom automatically sends reminders to the tenant.

Get the best of both worlds with Mashroom

Mashroom allows you to advertise your property on Mashroom, Rightmove and Zoopla for free, manage your property via their online dashboard and only pay for the add-ons you need.

Once you’ve found the right tenant, you can sign customisable ASTs on your dashboard, with their lettings team on standby to support every step of the way.

Mashroom cover their costs through optional add-on services, such as:

EPCs
EICRs
Gas Safety Certificates
Inventories
Tenant referencing
Professional property photography

Property maintenance can be managed entirely through your dashboard. Tenants describe the issue. You can book a trusted tradesperson through their marketplace of over 7,000 qualified professionals who all offer a 12-month guarantee on any work done.

So if you need a tenant, check out Mashroom. Advertise on the biggest property portals, manage your property and only pay for what you need. Advertise your property with Mashroom

The British Landlords Association is a free national landlords association, why not join us for free today!

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