Follow these three tips when choosing the right Letting Agent to manage your property.
Once you know what you’re looking for, it’s time to draw up a shortlist of possible letting agents. Take a look at online listings, check forum discussions, and ask other local landlords for recommendations.
It’s worth checking whether agents are well-reviewed by tenants as well as landlords, as a poor experience with the letting agent could discourage a tenant from remaining in your property, or even from renting it in the first place.
Ensure that the letting agent has a proactive attitude to marketing rental properties, and that they will use a number of strategies to find tenants for your house or flat.
Check their property listings on a property portal to see if they market rental properties well, and to see whether they’ve successfully rented out many properties in your area recently.
Make sure that you’re happy with the way the letting agent will deal with you as a client. These are a few things that are worth checking.
Some letting agents are only open during weekday working hours, which could be an issue for you as a landlord and for tenants and prospective tenants. Ask whether anyone at the agency will be available during evenings and weekends.
Confirm with the letting agency how they will handle rental-related paperwork, such as references, credit and employment checks, and tenancy agreements. For example, will they give you the chance to review any references they receive for prospective tenants? As long as they get the tenants’ agreement, they’re legally allowed to do this.
If you’ve chosen a management service, ask the letting agent how often they carry out inspections, how the tenants can contact them if they have a maintenance issue, and if they have a panel of trusted tradespeople who they use.
Speak to the letting agent about how they will handle the rental finances, including the rent received and costs and fees: how often will they transfer balances to your account, and will you need to provide a “float” to pay for any maintenance issues?
It’s important to find out how long the letting agent’s notice period is so that you know what happens if you want to end the relationship. Most letting agents require two months’ notice in writing to end a rental management contract.
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