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Locating a Letting Agent

Sep 16, 2008
Let me begin by saying that it is not easy to be a landlord. Simply listing your home, finding a tenant, and then sitting back and raking in the profits are what many people think happens. There are many steps to properly letting your property, and there are many things the landlord is responsible for. In order to make life easier, it is suggested that you get a letting agent.

Finding the leasing agent best suited to your property and situation requires an investment of effort on your part. The listings of similar properties in your area are a good place to start finding an agent. An agent who has other listings that are similar to yours is also likely to have prospective tenants who are seeking properties similar to yours. Agents who deal with properties similar to your property are more likely to know the best listing prices for your real estate. It is important to check that your agent belongs to a professional organization. As members of a professional organization, agents must uphold a code of conduct and practice.

Letting agents perform the majority of the duties related to leasing your property. Agents can do all of the legwork, including preparing the listing, meeting with applicants, and checking references. You will need to check some of these references to make certain that you obtain what you were promised. For an additional fee you may have your agent conduct the move in checklist and other elements of the leasing agreement with the tenants. You may find this service of interest if you do not live in the area. Some landlords no longer require the services of an agent at this point, and can take over performing the remaining work themselves.

You can have your agent manage your property as well, however, if you desire. Your agent can carry out simple tasks like collecting rent and sending it to you, or can be much more involved with the property. From inspections of the property to making repairs, agents can do everything. The higher their fee will be, of course, the more involved an agent is. On top of the fee they collect due to finding you tenants in the first place is usually an additional 5%.

Letting agents are more than worth it, though, as they save you a lot of time and trouble. With the best of intentions many people go into letting their property. They can simply overlook something, such as contacting their lender or insurance company and end up in a very bad situation, since letting does require a lot of work. It may cost you a little but in the long run the peace of mind is worth the fee; for this reason alone having an agent is a great idea.
About the Author
If you are looking for letting agents then visit Alan Harding's website for useful information on London letting agencies
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