18
May
TOP 10 TIPS ON HOW TO CHOOSE A LETTING AGENT
Anyone can set up as a Letting Agent so how do you choose a good
one? There are steps you can take to minimize the chance of losing
out to a rogue agent.
1. This is the most important tip of all! Make sure the
agents you invite to value your property are members of a
recognised scheme such as ARLA. This means the agent has to work to
extremely high standards set out in a Code of Conduct and just as
important, your money is protected so the agent can’t close
shop and run off with your rent or the tenant’s deposits.
2. Choose an agent who has an office near your property
and ask around people you know for recommendations.
3. Don’t just go by advertised prices for similar
properties as they may have been reduced to get a tenant. If the
rental figures the agents give are realistic, they won’t mind
supplying a list of similar houses that have been recently let in
the same area. Remember that everyday the property is vacant is
costing you money.
4. A good agent will be advertising on more than one web
site. Rightmove is the most popular but they should also have their
own up to date and easy to use web site to promote your
property.
5. They should have a range of letting packages to suit
different types of landlords and offer services like Safety
Testing, EPCs, Inventories and Check-ins etc.
6. Having found tenants, how does the agent reference
them? If they do it in-house then the checks are unlikely to be
thorough. A good agent will employ a specialist company to run
credit checks, take references from previous landlords and
employers and check proof of residency.
7. Do they charge renewal fees at the end of the fixed
term? Most reputable agents don’t but always check the small
print and ask the question. Renewal fees are one of the biggest
sources of discontent for landlords and tenants.
8. Ask to see the Terms and Conditions before you commit
yourself. The pricing structure should be clearly laid out so you
won’t get a nasty shock from hidden charges.
9. Ask the agent how they monitor arrears and what action
they take if a tenant fails to pay the rent on the due date. They
should have software that flags up arrears and a step by step
process to take appropriate action within 7 days of rent not being
paid on time.
10. Last of all, go with your instinct. If you’re
not comfortable or feel you can’t trust them, go with your
gut feelings!