How Do I Choose A Letting Agent?

For many landlords, a letting agent is an absolute necessity. While some property owners choose to  manage their affairs themselves, a very sizeable proportion still choose to entrust their properties to an agency, particularly those landlords that have multiple properties.

There are several important factors that you should consider when choosing a letting agent. Your final choice will of course depend on your individual situation – but here are some top tips to help you find the right agent.

There are, broadly, three types of services offered by letting agents. Before choosing an agent, you need to consider how comprehensive a service you require, and how much you are willing to pay for it.

The most comprehensive type of service, generally referred to as ‘full management with rent guarantee’, sees the agent take on virtually all the work of finding a suitable tenant, drawing up contracts, collecting rent (and paying it to you), and dealing with problems like maintenance. An insurance policy covers the cost of non payment of rent and re-possession of the property if needed. This is the most expensive type of deal.  Some agents will offer this service without the rent guarantee and this will be at a discounted rate.

Alternatively, you might ask an agent to simply find a suitable tenant and collect your rent. This should be cheaper than full management. 

Finally, you might choose a simple tenant finding service, in which the agent finds a suitable tenant, and then leaves you to execute the tenancy agreement, collect the rent and arrange things like maintenance.  You will also need to be compliant with the current tenancy deposit laws.

Recommendations

Select an approved agent, registered with ARLA (Association of Residential Letting Agents) to ensure compliance and regulation with current laws.

Use an agent that advertises on all of the main property portals such as Right Move, Zoopla etc.

Consider using an agent that is local to the property neighborhood and that has a full complement of services in the same location for enhanced communication.

If you have more than one property most agents will offer discounted fees relative to the size of the portfolio.  For full details of our services and a free property appraisal and professional advice call Chelton Brown Lettings today Daventry: 01327 879431 or Northampton 01604 603433.