What do you need in a Letting Agent?

Unfortunately, letting agents don’t usually get much positive press, as just like landlords the media tend to focus on the few rogues out there than those that provide high-quality services. However, the fact of the matter is that letting agents can be extremely useful as they can help run your business and find tenants for your properties quickly and easily. So here we look at how you can find a suitable letting agent and avoid the rogues:

 

 

Unfortunately, letting agents don’t usually get much positive press, as just like landlords the media tend to focus on the few rogues out there than those that provide high-quality services.  However, the fact of the matter is that letting agents can be extremely useful as they can help run your business and find tenants for your properties quickly and easily.  So here we look at how you can find a suitable letting agent and avoid the rogues:
Letting Agent Registration

Most landlords have already heard about numerous local authorities’ plans to bring in voluntary landlord registration into their constituencies, however the truth is that many landlords and letting agents have been part of such groups for years.  The biggest letting agent group in the UK is the Association of Residential Letting Agents (ARLA) who provides information for their members as well as helps regulate the lettings industry.  In order to sign up with ARLA a letting agent must adhere to their standards, which means that if you are looking for a new letting agent one of the first things you should ask is whether they are registered with ARLA or a similar group!
Your Property Portfolio

If you specialise in letting apartments and flats in city centres then you will want a letting agent who has experience in managing these types of properties.  Therefore, look at the types of properties that certain letting agents have in their windows – it will give you an idea of the types of properties they are good at finding tenants for and are likely to pay more attention to.  At the end of the day you want your letting agent to find tenants for your property as quickly as possible, so if you find one that already has a considerable amount of demand for the type of properties you own you could find them being filled in just a matter of weeks or days!

 

Building up a Relationship

 

In a way, your letting agent is your business partner, as you both rely on each other in order to succeed.  This is why you need to build up a good working relationship with your letting agent, as any decisions they make can have a huge impact on your business.