What to look for from a Letting Agent……
Property Management can encompass a wide range of services from ensuring that the property complies with legislation, to finding tenants and signing lease documentation, to the day-to-day management of the property.
It is important that you give thought to the services you require from a managing agent before you decide which one is best for you.
We have prepared our top tips on finding your Letting Agent below.
On arranging your Rental Appraisal appointment, you should consider the following;
- How did you hear about them and are they easy to find online?
- Have you read their reviews?
- How did they sound when you first approached them? – First impressions really do matter.
- Prepare a list of questions to ask at your initial appraisal appointment –
- include asking for more details on their fees, any additional outlays and any hidden costs or commissions they may charge/receive.
- Where the property is going to be advertised and the average time the Agent takes to let a property in your area.
- How quickly do they respond to tenant maintenance issues, both day to day and emergency repairs?
- How informed will you be on maintenance and repairs reported by your tenants?
- How often will they visit the property?
- What happens when a tenant decides to end the tenancy – are there additional costs involved?
Once you’ve met the Agent, you should also consider;
- How you will get on with the personalities you will be dealing with and whether you will be dealing with the same person who will know your property and any specific instructions you have given.
- How knowledgeable the Property Manager appears to be. How well properties are presented in the Agent’s advertising.
- Whether the atmosphere created by the team looking after your property is likely to give a positive experience to your tenants ensuring not only average longer lets but less maintenance.
- How well the tenants are vetted by the Agency. How the Agent deals with rent arrears and how quickly these will be followed up.
- Whether the Agent has an allocated client account to receive funds that will ensure your money is always secure even if the agency is in difficulties.
- Whether the Agent is a registered Agent.
- Whether the Agent has client money protection.
- How extensive the inventory is and whether it is robust enough to be relied upon to recover any damages from the tenancy deposit scheme.
- How often the property is going to be inspected by the Property Manager and what maintenance is likely to be instructed as a result. For example, someone should be regularly checking shower and bath sealant and instructing this to be fixed where appropriate.