How to Choose a Good Letting Agent
Posted: Jul 30, 2019
Many landlords use a letting agent to help let and manage their property. It is a good way of ensuring that tenants have been properly vetted and your property is maintained throughout the duration of the tenancy. But there are many letting agents to choose from so how do you decide which one will is best for you. These top tips might help.
- A letting agent located in the same area as your property is usually a good idea. They will have good local knowledge and will know the best price that can be achieved for your property. They will also know what type of tenants the area attracts and what facilities they are looking for e.g. families, students, professional couples etc. A local letting agent will be able to offer useful advice that can help you attract good tenants.
- Always check that any letting agency you are considering has a proper letting agent license. Since October 2018, letting agencies in Scotland must be registered on the Scottish Letting Agency Register. Being a member of a professional body such as ARLA (Association of Residential Letting Agents) is also important because it means that they follow particular codes of conduct.
- Always ask the letting agency what tenancy deposit scheme they use. By law, all deposits paid by tenants must be registered with a government-approved scheme.
- Investigate how well they advertise their properties. A property that lies empty for any length of time is costly for a landlord. It is essential that a letting agency advertises their properties in a number of different portals in order to get maximum advertising exposure. In addition, virtual tours are becoming a very popular way to view properties online. A letting agency that can offer this facility will be giving your property a better chance of being viewed and let quickly.
- Always search and read any reviews you can find about the company you are interested in. It must be remembered that not everyone who writes a review is going to give a 5* rating but if a letting agency has none you may be right to be concerned. Read all reviews carefully and pay particular attention to the most recent ones. Try and get a feel for how previous or current landlords or tenants have found the services provided. If all the reviews sound a bit too similar in language or if there is a flood of good reviews posted on the exact same day, warning bells should ring. You should pay most attention to good, genuine sounding reviews which are posted on a more natural way.
Remember, if you are a landlord, finding a good letting agent is the key to making renting and property management stress-free. Don’t rush into making a quick decision and choosing the first one you come across, it could be a very costly mistake. Always take your time, do your homework and choose your letting agent with great care.
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