How can hiring a virtual assistant save you thousands per year?

When you’re starting out in property, it can make sense to pay a letting agent for peace of mind when navigating complex tenancy law, the logistics of finding tenants and the burden that is property maintenance.

Or if you just want a ‘passive income’, or live a distance from your investment area, then the services of an agent can be very attractive.

But once you have a few properties under your belt, it’s likely that there’ll come a point when you look at your income and expenditure, and think..

“I’m paying HOW MUCH in management fees each month????”

Followed by..

“But NO WAY do I want to manage them myself!”

The aim of this post is to show you there are is a way of saving significant £££ every month on the management of your properties, without you having to take on the headache of managing your properties yourself.

As your portfolio size increases, it’s much more cost effective to move away from a %-based fee model to a cost per hour management model.

You’re no longer paying for the time an agent to be on stand-by, waiting for a problem - you’re paying for focused and productive time spent fixing a problem, or proactive planning on how to eliminate future problems in the first place.

When you work with our lettings-specialist VAs, every minute you pay for is optimised, focused solely on enhancing your portfolio & solving problems.⁣ AND this means you set the standards. No more frustrations with delayed repairs, lack of reporting, unhappy tenants with high turnover.

Here are two examples of how costs can be saved:

HMO portfolio of 15 rooms, North of England. £400 pcm per room average, exl bills. Gross rental income £6,000 pcm/£72,000 pa.

If you’re using an agent then you’ll be spending upwards of £720pm / £8,460 pa on fees. And that’s before any tenant find fees, renewal fees, set up fees!

If you work with our team, based on the amount of hours we work for similar clients, then you’ll be spending circa £380 pm / £4,560 pa.

What can you save by working with us? £4,080

HMO portfolio of 25 rooms, South of England. £650 pcm per room average excl bills. Gross rental income £16,250 pcm / £195,000 pa.

If you’re using an agent to manage these rooms, you’ll be spending at least £1,950 per month / £23,400 pa on fees. Again, this is before any tenant find fees, renewal fees, set-up fees!

If you work with our team, based on the amount of hours we work for similar clients, then you’ll be spending circa £640 pm / £7,680 pa.

What can you save by working with us? £15,720.

Even if you have a BTL portfolio, and pay a lower fee to your managing agents, there are still significant savings to be made.

I hope this has given you something to consider. Do get in touch with us to see how we could proactively manage your properties, and how much we might save you per year.