Advice to Landlords
It can be difficult to decide which agent to use if you have not been lucky enough to have one recommended to you by a friend. We suggest you look for an agent in your area, who is proactive and long-established. Check to see if they are members of any accredited associations like ARLA (The Association of Residential Lettings Agents), this will give you security should any problems arise and the confidence that your agent has been vetted on your behalf.
In addition to the above, there are two essential skills you need from your agent:-
- An ability to market to the right people, at the right price, and achieve the best tenancy as quickly as possible.
- The legal knowledge and ability to ensure your tenancy is set up correctly, to avoid potential problems.
The majority of lettings agent will fall into one these categories but will not be able to do both well. Ask how they market and how they keep their clients informed during marketing? What training is given to staff? How does the company ensure they are up to date with the latest changes in legislation and how do they keep clients informed? What are their security procedures for keeping information confidential and keys to properties safe? How quickly do they process client monies?
Managing a rented property can be very time-consuming, depending on the tenant and the condition of the property. You will need to be available twenty-four hours a day, three hundred and sixty five days a year if you want do it yourself; which is why most landlords in the know use an agent to handle this for them. If you want an agent to manage a property you should ask them how they would deal with problems arising out of office hours (i.e. Christmas day)? What is the maximum the agent will spend without your confirmed consent? How often would they visit the property and would all this be included in their fees? Are all their contractors properly vetted and insured?
Value for money is what you should be looking for, but not at the cost of any of the above.