For the majority of people looking for properties to rent, the letting agent they choose is the missing link between finding their dream property and bagging a real nightmare but how can you ensure that the letting agent representing you and your property is reputable and reliable? And what can you expect when using letting agents to market your rental property? student property letting
When finding a reliable agent to promote your rental and source responsible tenants, it is important to use professional organisations like the Association of Residential Letting Agents (ARLA), the Royal Institution of Chartered Surveyors (RICS) or the National Association of Estate Agents (NAEA) to find a reputable letting agent. There are so many agents out there and choosing from the endless list of accredited agents can be a real challenge for landlords, however, it is advisable that you seek personal recommendations as well as professional ones to sort the wheat from the chaff. Speak to other local landlords or even tenants to discover their experiences with certain agents.
When you have selected a few favourites in your area take some time to do some digging. Ask each agent if they have professional indemnity insurance, this will provide legal coverage for you and the agent. Also check if the letting agent has client money protection and tenancy deposit protection to safeguard your tenant’s deposit, this will relieve some of the pressure during your role as a landlord.
There are also a range of specialist letting agents out there so figure out what you want your agents to do to find the right one to represent you. Some agents specialise in student, professional or commercial lettings, whilst others offer a comprehensive list of services, which often include property management for a fuss-free alternative for landlords with multiple properties to rent.
Just as tenants should check their tenancy agreement carefully, landlords must also check their paperwork when signing up with an agent. Read through the management contract in detail before signing, it is also recommended that you take advice from an independent ombudsman should you be unsure about certain aspects of the contract. The management contract will detail commission on renewals, charges whilst the property is vacant and estate agency fees plus any charges for additional services and administration.
Choosing a letting agent to represent your property, find prospective tenants and get you the best rental price is a huge choice for every landlord, take this advice and read the small print to find the right agent for you.
Natalina Sutherland and I’m the Marketing Manager at the regions premier letting agents Easilet.