Being a landlord is not an easy job – they have to deal with the stresses and strains that come from operating as small business owners, yet they also have to worry about managing their properties full time. Finding a good letting agent is not always easy, but it can be worth your while in the long run.
If you’re a landlord, finding the right letting agent is one of the most important decisions you’ll make. You want someone who is experienced, knowledgeable, and offers great service. But first, it is important to consider why you are hiring a letting agent. Some reasons might be if you have too many properties or not enough time. If your property has been damaged by tenants, or because of the benefits of having an experienced professional represent your interests in dealings with tenants and other service providers.
Finding a great letting agency is hard and time-consuming. We want to make the process as easy as possible for you, so take a look at these top tips on how to find one.
Find out what the agent’s experience is in the market
Renting out a property can be a daunting task, but it is also often profitable. Every landlord needs to hire an agent before they start renting out their properties. A good letting agent who will know all the rules of tenancy law and has experience in dealing with tenants. As well as handling tenant disputes, your letting agent should also work on marketing your property so that you get the best possible rent for it. To make sure all these things are well taken care of, you should check your letting agent’s experience in the market. The easy way to do this is to ensure that your chosen letting agents have a good reputation in the area where you want them to manage your property by asking people who live there how well known they are locally.
Make sure they offer all the services you need
There are many reasons why landlords want to outsource letting agents’ services. One of the most common reasons is that they don’t have the time or knowledge to manage a property themselves, and it can be difficult for someone who lives in another city to keep up with local laws when renting their property. Renting an apartment on your own takes a lot more work than you might think – there are always legal documents involved, as well as managing any maintenance issues that may arise.
With so much going on in one’s life, it makes sense why some choose not to invest too much time into this potentially risky endeavor. With the immense competition in the rental property market, landlords must take advantage of all available resources. Renting out your property without professional help can be quite cumbersome and frustrating given all the paperwork involved, so hiring a letting agent could make things easy for you. You just need to make sure they offer all the services you need.
Check Their Rates
The amount of money you spend on a letting agent can make or break your business. When it comes to properties, many factors determine the cost of hiring a letting agent. The size and location of the property, as well as whether the property is furnished or not, all affect how much it will cost you to hire an agent. To save yourself some money when getting started with your new venture, you need to find affordable agents in your area. Letting agent rates are a significant factor in the total cost to you as a landlord.
It can make up to 40% of your annual running costs, as well as being a key influence on whether you can offer competitive rents. When choosing a letting agent, it can be difficult to know which agency is right for you. You need to consider what the company does and how well they do it. Compare rates before making your decision so that you get the best deal possible. Add that to their customer service and performance history, and you’ll easily figure out which one suits your individual needs best.
