There are many benefits to letting an agent manage your property. They will have a wealth of experience and knowledge to help rent your home out as quickly as possible and for the best price possible. Letting agents have access to databases of potential tenants means you’re more likely to find someone who is suitable for your property. Letting agents take care of all the paperwork and communications with tenants, so you don’t have to worry about a thing.
If you’re thinking of letting an agent manage your property, read on for our top tips!
1. Do your research
You know that letting agents are not all the same, so it’s important to do your research and find one that you feel you can trust. Please have a look at their website and read through any testimonials or reviews from previous clients.
And remember, you don’t have to go with the first letting agent you speak to. If you’re not happy with their fees or the level of service they’re offering, keep looking until you find the right fit.
2. Get everything in writing
Once you’ve found a letting agent you want to work with, make sure you get all the important details in writing. This includes their fees, the services they’re offering, and how they will communicate with you.
It’s also a good idea to have a written agreement that outlines your rights and responsibilities as a landlord. This will protect you in case there are any problems down the line. If a letting agent is unwilling to put anything in writing, walk away.
3. Check their references
Before you hand over the keys to your property, it’s important to check that the letting agent is reputable and reliable. Ask for references from previous clients and give them a call to find out how satisfied they were with the service they received. You can also ask your local authority or trade association for recommendations for letting agents in your area.
4. Be prepared for the unexpected
Even if you’ve done your homework and found a great letting agent, there’s always a chance that something could go wrong. That’s why it’s important to have insurance in place to cover you in case of any damage to your property or if your tenants don’t pay their rent.
In addition, Estate Agents are required by law to hold a Client Money Protection Scheme. This protects any money that you, as the landlord, have paid to the letting agent in case they misappropriate it. So, when you’re looking for letting agents be sure to ask about their insurance coverage and whether they are part of a Client Money Protection Scheme.
In conclusion, letting an agent manage your property can be a great way to take the stress out of being a landlord. Just be sure to do your research, get everything in writing, and check their references before you hand over the keys!
Image Credits: RODNAE Productions