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Tue 19 October 2021
How do you decide which agent to instruct?
Letting your property, whether for the first time or for the seasoned landlord, can be a nervous and stressful experience. To make sure you and your property are fully compliant, you are receiving a good return on your investment and you have a quality tenant, choosing the right agent is the key.
With so many letting agents out there, knowing what to look for and the questions to ask can be daunting. Here are just a few of our top tips and things to consider when choosing your agent:
1. Is the Agent qualified?
Using an agent that has to follow strict codes of conduct and working practices ensures that your property is in safe hands. ARLA Propertymark is the professional body whose members are all licensed agents.
2. How will they advertise and market your property?
Not only does a landlord want to ensure a good return but, as important, is ensuring that their investment is going to be looked after and returned to them in the condition they expect. Advertising and marketing using a variety of promotional tools provides a landlord with a selection and tenant choice.
Ask the agent: Do they have a register of pre-qualified applicants? Do they advertise in the local publications as well as the web-based property portals? Do they give a number of tenants the chance to view and not work on a first-come basis?
3. Are they able to advise on the safety & legislation?
With ever-changing legislation it is as important as ever to ensure that as a landlord you are fully compliant; if not, the consequences can be catastrophic. Your chosen agent should be able to advise you on all of your obligations as a landlord so that both you and your property meet all of the requirements.
4. Do they provide service options?
Landlords often have different requirements from a letting agent. Some choose to instruct an agent solely to let the property, handing over the management to the landlord once the tenant moves in, or many now utilise the services of an agent to fully manage the tenancy from start to finish. Full management is now the favoured option by many, with the agent instructed to care of everything whilst still communicating and involving the landlord in decision making.
5. Will my money be safe?
As the agent will be handling yours and your tenant’s money you need to be sure that it is safe and protected. A professional letting agency will be able to demonstrate that they belong to a Client Money Protection scheme giving you peace of mind that your money is protected.
It is also important that you know when you are to expect rent to be paid to you. Find out how often your agent will pay you and when you will receive it. Will you be paid when the rent is received? How often will you be paid?
Stags are bonded members of ARLA, ensuring the letting, property management and the finances are all handled appropriately with experienced and qualified staff looking after your investment. For more information on how we can help contact your local Stags office.