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Dated:
Sep 06, 2022
Read Time:
2 mins
Topic:
Estate Agent, London

How to choose the best estate agent for property to let?

Is it the first time you have thought of renting out your property? Or, maybe, you have a strong property portfolio. In both these scenarios, you need the help of a letting agent to find tenants. Choosing the best tenant is important for earning the highest amount from your rental houses. Thus, how do you hire the most reliable letting agent in the UK?

Check your agent’s accreditation -

The best letting agents in the UK gained membership in the National Approved Letting Scheme. They have to associate themselves with the scheme. There are no strict legal rules about letting agents. However, you should try to look for agents, who have proactively joined schemes.

Property Ombudsman members are also highly trusted professionals to help you. 

Make sure that your agent can serve your needs -

While looking for the letting agents, you will find variations in services. That is why it is essential to know about services offered by the best estate agent for letting.  Your first step is to ensure that the agent can provide the services you need. Every landlord has diverse needs, so, let your agent know your requirements before hiring him. After a detailed discussion, you can make a proper decision. Estate agents can provide different service options.

  • Rent collections – Landlords who have multiple rental houses like to engage something for managing daily activities in their properties. They look for professionals to collect rents. It is to be noted that several tenants prioritise their monthly payments to estate agents. Efficient agents can pursue late or missed payments.

  • Let only - Some landlords have chosen their rental property investments as the major source of income. Thus, they have the time and skills to manage rental properties. Let- only services from rental agents are the right choice for them.

  • Comprehensive management – Letting agents are ready to provide top-tier services to landlords. You might have invested in a rental house. But, you like to hire an agent to manage everything on this property. In this case, you can choose agents who provide end-to-end services. You will be free from concerns about your property and receive money at the right time. In this case, the agent has different responsibilities for your rental property.

Throughout the tenancy, he collects rents at the right time. He also follows up with your tenants to get their feedback. Moreover, he checks for periodic property inspections and identifies the need for mandatory evaluation. He also manages repairs to be done for the rental houses. Thus, you do not need to be concerned about the maintenance tasks for a property.

Again, at the end of every tenancy period, the agent guides tenants on how to leave your rental house. While the tenant thinks of moving out of the property, the agent will check your property to check for any signs of damage during a tenancy.

Research local estate agents to rent out your house -

As you are aware of what you need, you can easily create a list of potential letting agents. Join online forums and talk to local landlords. These property owners or landlords can refer you to the most proficient agents. However, online listings can also present you with the names of different estate agents. 

The best letting agents for landlords can easily gain a positive impression. You may ask questions about how long they have been engaged in the rental property sector.

Learn about the agents’ capability of dealing with legal works -

Buying a house indeed involves some legal steps. However, landlords should also fulfil their legal requirements. For instance, you have to care for safety rules related to gas and electricity. But, during your first-time dealing with tenants, you may feel confused.

The best letting agents in London can deal with these activities. They also ensure that your rental property business is compliant with relevant laws.

Ensure that your agent has strong marketing knowledge and skills -

Being a landlord, you do not like to keep your rental house empty for several months. An estate agent should have the potential to find the most suitable tenant for the property. Almost any professional will promise to promote your property effectively. But, how does he implement it?

Quality agents know the way to take advantage of both online and offline platforms to establish your presence. That is why it becomes easier for you to find your tenants.

Compare charges of letting agents -

Every agent has set his rate for providing services to landlords. That is why you must have clear information about his fees before hiring the agent.

Find the breakdown of the agent’s charges-

  • Fees for vacant properties
  • Service charge
  • Estate agency fees
  • Admin fees

The charge of an agent does not denote the quality of his service. Thus, you have to compare different details before making a decision.

Although there is a variation in the letting agent fees in London, you have to pay around 10% of your monthly fee. But, for comprehensive property management, it is about 15%.

One important thing is that the agent should not charge a fee for referencing and inventories.

Ask about the ways to maintain relationships in the future -

You have already found an agent to manage your rental property. Now, you have to focus on a few important things.

  • Some agents work for you only during working hours on weekdays. Ask them about their availability on weekends.
  • Make sure that the letting agency will manage rental property-related paperwork, including tenancy agreements, employment checks, and credit checks. 
  • In case, you have chosen the agent’s property management service, you need to ask questions about the frequency of inspections.
  • While ending the relationship, the agent should send a written notice. 

You may like to learn a lot about property rentals and regulatory needs. Thus, you can rely on TRPE- The Real Property Experts to get the desired information. This company has professionals to help you with property lettings. You may also use this platform to show your rental house details to your potential tenants. Moreover, TRPE has described the renting process to resolve your queries.

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