For the private landlord, managing a property can be a busy and demanding job.Using a letting agency can be truly rewarding for a landlord if you choose the right one. Here are some good pointers and services to look for in choosing the correct letting agency for the management of your property.
For the private landlord, managing a property can be a busy and demanding job. Advertising the property, arranging viewings, organising the necessary agreements, carrying out inspections, and maintenance all takes time and that’s not even including finding the right tenant that you can trust to treat the your property with respect. And with many landlords also working another part or full time job, managing a property can become a full time job in itself. It is for this reason that many landlords with a flat to let choose to use a letting agency to manage their property. They take the weight off the landlord and take responsibility for the management and letting of the property.
In any area of Britain you will find several letting agents of varying sizes offering what appears to be similar services. The reality of this is that like most service providers there are some who agents simply stand above the rest in terms of quality service, cost, value for money and how efficiently they manage your property. Using a letting agency can be truly rewarding for a landlord if you choose the right one. Here are some good pointers and services to look for in choosing the correct letting agency for the management of your property:
Letting Services
When you have a property to let, the level of customer service offered, patience and understanding by the letting agent should be exceptional. They should be willing to help with any enquiry you have and should not put pressure or time limits on you. They must understand the importance of finding the correct tenant for your property that will respect it. They should not seem overly keen to simply fill the space.
Property Management Costs
In property management there are sometimes hidden costs which is why you should get a breakdown of exactly what you the costs are. Good letting agents should be upfront and honest about their costs. Generally there is a one off fee for the property management service then the company will take a percentage of the monthly rent of the property. These can vary but you should assess the fee against the level of service you will receive.
Website and Properties
A good letting company who are serious and professional about property management should really have their own website. This allows your property to be seen by a much larger audience. It should be used to explain fully the landlord and tenant services the agent offers, information on prices and a full list of their current properties, featuring a full description, details and professional photos to compliment it. The usability, efficiency and design of a letting agent site will tell you a lot about the company itself.
Full property management service or advertising only
With a full property management service landlords should look for some or all of the following: online advertising of your property on major websites such as Lettingweb, Rightmove or the major lettings portals that service your area; arrange property signboards and viewings; carry out credit checks and references; manage tenancy agreements, collection of rent and inspections; and provide contact for maintenance and repairs.
A good letting agent will also offer an advertising only service which for a one of fee allows the landlord to manage their own property but have it advertised on major websites. The landlord could not do this on their own as advertising on these sites is reserved for agencies.
I am a landlord in Glasgow who owns a flat in the West End. I have used various letting agencies in the past with mixed success, but recently I came across a Glasgow letting agency online called You Let. You Let are based in Hope Street, Glasgow but I believe they have other branches in Cambridge, Ely and possibly elsewhere. I would recommend them to any landlord who wish to let out their property as the professionalism and honesty of their service has been great from the start. Their full property management service rate is 9.75% of the monthly rent and a one of fee of £79.95. They placed my property on Lettingweb, Rightmove and their own site and I had my flat let out in under two weeks. I think they also have an advertising only service.
