How to find the right letting agent?
Finding the right letting agent is crucial for landlords. While it needs to be remembered that the best letting agent for one landlord may not be the best agent for another landlord, there are aspects that everyone should look for in the ideal professional for their needs. If you need guidance or advice on how to find the right letting agent, let Homesforte help you.
Location matters when looking for the right letting agent
If you are looking for property in a specific area, it makes sense to choose a letting agent that has experience and who has developed a positive reputation in this area. Local knowledge is hugely important in the property and rental market and the benefits associated with choosing a letting agent that understands what an area has to offer means that you are always advised to hire a local specialist.
Know what services you need
Not all letting agents are the same and not all letting agents provide the same level of service. There are generally three levels of service on offer from letting agents, which are:
- Tenant-find only: The landlord is responsible for the day to day management of the rental property
- Tenant-find and rent collection: The letting agent find the tenant and collects the rental payment while the landlord deals with all other matters
- Full management service: The letting agent is responsible for all matters
It is important to know what assistance you need. Most new landlords and investors who are only looking to generate some additional income each month will find that a full management service is best for them. This obviously costs more but it significantly reduces the work and effort that the landlord must put in.
If you are looking to maximise your return and you are happy to put in the time and effort, one of the two less intensive options may be best for your needs.
There is a lot of administrative work associated with being a landlord
If you are new to the rental market, you may be unaware of the regulations for the industry and how much administrative work a landlord must undertake. Some of the paperwork tasks that must be carried out include:
- Checking tenant references
- Carrying out credit checks on tenants
- Ensuring the tenant has the right to rent in the UK
- Draw up a tenancy agreement
- Ensure the correct gas and safety certificates are in place and can be provided to the tenant
- Ensure the Energy Performance Certificate, EPC, is in place and can be provided to the tenant
These are all important tasks and if you are unsure of what to do for them, you need to make sure you find a letting agent that can undertake the paperwork side of the business for you.
Check reviews and feedback
One of the best things about the online era is that people are happy to share their opinions and views on companies. Before you sign with any letting agent, make sure you look for reviews and testimonials from people who have used their services before.
You should also review social media for insight into how the company engages with their market and for any reviews that people have about the company. If there is positive feedback from existing and previous customers, you will feel more confident about what a company has to offer. If there is a lack of feedback or negative feedback from previous customers of a letting agent, it is likely that you will be less confident about choosing this letting agent.
Make sure the agent is accredited
When it comes to finding a professional you can rely on, it makes sense to look for agents that below to a regulatory body. ARLA Propertmark is the leading regulatory body for landlords and letting agents, with all members having to adhere to a nationally recognised code of practice. There is suitable backing for members and for people who do business with members to ensure that you choose a letting agent that is a member of a body.
Some quick tips to consider when choosing a letting agent include:
- How much marketing and promotion will the agent do on your behalf
- What client money protection service do they use
- How do they comply with deposit law?
- Who will be responsible for repair and maintenance work? If it is the letting agent, who do they use, and will you be charged for the work?
Finding the ideal letting agent is hugely important, but help is available. If you are keen to find the professional that makes being a landlord a more straightforward process, come and speak with Homesforte.
Categorised in: GUIDES