Letting Tips Week: How To Choose A Letting Agent
This week on Discountletting.co.uk, we have Mary a very well-respected figures in the property industry blogging for us.
Choosing a letting agent can be tricky so we have compiled a list of letting agents and estate agents in your area. Mary Holloway, co-founder of this website, works for Foxtons and is very impressed with their professionalism, ethics and organisation. She specialises in properties for sale and properties for rent in Bournemouth, Winton and the surrounding areas and also offers property management services, including live holiday lets.
Top Tips If You Want To Use An Agent
- Ask for contact details of current landlords and tenants and check them out
- Check some of the properties they manage to see what quality they are. This will give you an idea of who they rent to and if repairs are carried out.
- Get a written contract with the agent – be sure you understand it and question stuff you don’t understand.
- Do not sign the contract immediately; take a copy with you to read in-depth, and consult your solicitor if in any doubt.
- Ask how quickly they deal with emergencies and what happens after 6 pm.
- Also, be careful about clauses regarding responsibility issues for damages or repairs.
- be firm on the type of tenants you want. It’s your property.
- An important thing to remember is that your rent is not guaranteed just because you use an agent. This seems to be a common misconception amongst new landlords. ( Some newer breeds of agents will guarantee rent, though more money will be given to them, of course!)
- Choose the service level and Prepare for property viewings
- Building relationships with one estate agents
- Choose the right Letting agent location who will Market your property well
- What are their fees, and what do they include and not include
- Ask for recommendations and read Google, and Facebook reviews
- If you opt for one of these schemes, you need to visit your properties regularly.
- Ask to inspect the property after the first month, then three months, then six, or ask to accompany them on their checks.
- Many estate agencies now run lettings businesses as an aside – However, the service these agents provide is quite variable and sometimes seems to be a conflict of interests. A sales agent won’t necessarily be a good letting agent.
- Do be careful of agents who flaunt their links to the various associations. These may be old accreditations that pertain to a former member of staff.
- You will often find that smaller letting agents are very committed to their customers.
- There are a variety of schemes some agents run, such as, student schemes where you will be guaranteed a certain rent for the duration of the term/ year. NB, any rent the agent can achieve above what he has agreed with you is theirs!
- You can also pay an additional fee for a rent guarantee scheme – most agents offer these from their associated insurers. You typically pay £50 – £100 for a six to twelve month policy. There are a lot of ‘ifs and buts’ with these policies, so check out what you are covered for.
And Good Luck!
