Learning

Essentials

How to make sure you’re working with the best letting agent

Being a landlord comes with many responsibilities, but one of the most important ones is choosing what letting agent to collaborate with. After all, advertising properties and interviewing tenants yourself is simply unproductive. In this day and age, a professional letting agent in Stapleford or any other town in the UK is always one click away. However, you can never be sure that they are the best choice for you. So, before you establish a long-term collaboration, it’s best to sit down, do some research and have an open talk about your needs and expectations. It’s the best way to avoid unpleasant surprises and ensure that your property is in the right hands.  

How comprehensive are their services?

Letting agents aren’t all the same. Some provide comprehensive services, while others only cater for basic needs. Before you agree on anything, state clearly what expectations you have and how much help you need. For example, some letting agents only advertise the property and find you tenants. Others, like http://www.ogilvyandsneyd.co.uk, can provide full property management, if needed. This means that they can collect the rent and they can pick up the phone in the middle of the night when a tenant has a problem with a burst pipe. Or, they can help manage the property so you don’t have to. Weigh the pros and cons of each service carefully and once you’ve reached a decision talk to the letting agent to find out if they can help you.  

Ask about the fees

Every landlord can benefit from an expert’s help when managing or advertising a property, but what about the fees? Is it worth paying the requested amount of money or are you better off without them? To avoid misunderstandings, ask the letting agent to tell you exactly how much they charge for their services and always sign a written agreement. In general., agencies charge you a flat fee when it comes to basic or short term services, but for full time management of a property they charge a percentage of your earnings. Their service might save you a lot of time, but compare the fee against other letting agencies to make sure you are not being scammed.  

Don’t be afraid to be subjective

Sometimes, a letting agent sounds perfect on paper: the fees are just right, they provide the services you want, and yet you don’t seem to get along too well. In this case, you shouldn’t force a collaboration. Just like a landlord and a tenant should ideally get along, so should a landlord and a letting agent. If you have doubts that you will collaborate, then simply look at the next candidate.   Apart from these tips, don’t forget that price should not be the main factor you keep in mind when choosing a letting agent. It matters, but not as much as the rest on the list. A cheap letting service could be a scam or provide low quality services, so it’s best to spend more.