The aim of all landlords is to find quality, long-term tenants, but many overlook the importance of a good letting agent. In this video for new landlords we discuss what to look of when searching for a letting agent to manage your property.
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Video transcript
Hi, my name is Lorna Reed, and I’m and advisor for Towergate.
In this video I’m going look at ways to find a quality letting agent
If you are a first time landlord you’re likely weighing your options of renting privately or using a letting agent. The decision probably took you all of 10 minutes as its pretty straight forward based on the amount of involvement you want based on the money you could save. But what’s not as clear cut is knowing what to look for in a letting agent.
So for a the next couple of minutes we’re going to look at good a bad points that are easily spotted in any estate or letting agent you’ll find on your high street.
Finding a letting agent
First impressions
Possibly the best sign when looking into an agent is the first impression you get. How the personal service and general up keep of the office are when you first walk in?
How you are treated by the staff and the welcoming you receive is likely to be the same for prospective tenants. It implies the level of service you and your tenants can expect going forwards.
Are they a member of an accredited scheme?
Membership to The Residential Landlord Association, National Approved Letting Scheme and Association of Residential Letting Agents, among others, show some professionalism and drive for quality of service as well as giving them access to resource and training.
Do they have a large portfolio?
Renting houses is not the same as selling them. Is the agent an estate agent selling houses and simply renting a few on the side.
In this case the business may not have the oiled wheels and dedicated renting service a letting agent will have. For example, an established letting agent will have trained staff and a network of support staff on hand to deal with issues. If the boiler breaks in your property the tenants will contact your agent. They in turn should have staff, tradesman and a procedure that can handle the issue as quickly as possible. You are much more likely to keep hold of good quality tenants if they trust your agent.
Online letting agencies
Don’t forget to check out the agency online too.
Online reviews can provide some useful insight into the service level provided but also do some research of your own into their own online effort.
For example are they proactive in reaching new tenants via the multitude of online rental sites, is their website up-to-date and are in-coming queries via the internet and social media handled promptly? A bit of mystery shopping her could provide some useful insight.
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