recent years a new type of Web Based Letting
Agent has appeared. Some work in the same
way as the High Street Agent, whereas others, allow
the Landlord to upload their own details and act as
an advertising platform.
there are so many options available to a Landlord,
we have decided not to list High Street Agents as
you all know where they are! Instead we have listed
Web Based Letting Agents and also national chains.
Letting Agent can form a buffer between the Landlord
and Tenant, serving as an intermediary and releasing
the Landlord from some or most of their workload.
Landlords who don’t use Agents need to take
special care in choosing their Tenants or they can
lose a lot of money.
is a risky business to put a postcard in a newsagent’s
window and then accept the first tenant who agrees
to pay the rent quoted.
are many specialised Letting Agencies whose only or
main business is providing a letting service for property
owners. There are national chains of Agents as well
as smaller local companies.
Most high street Estate
Agents also handle property to let alongside their
main sales and some will have a dedicated section
or department. These Agents are not listed on this
directory as you know where they are in the high street.
COMPANIES also have their own Lettings Department
so that they can offer you a complete sourcing service
from start to finish.
services offered can vary a lot but most Agents will
off a full, all encompassing package of services and
also shortened, tenant finding service.
BASIC tenant finding service should include
to find a suitable tenant
addition, it may also include
and completing the AST
and completing the inventory
service is usually charged at a one off fee based
on one months rent. It is often collected from the
tenant when they pay the first months rent up front.
Subsequent rent is paid direct to the Landlord.
the full management service, expect most if not all
of the following
tenant finding service as before
for safety inspections and required certificates
regular inspection visits
routine maintenance and organise repairs
end of tenancy inspection and tenant check out
full management service will cost between 8-15%
of the monthly rental charge. The rent is usually
paid to the Agent who will deduct their fee before
passing the balance to the Landlord
main advantages of using an Agent are; it is considered
the easiest option to get started, it can reduce
the Landlords workload, the Agent can provide
advice and information, direct contact with the
tenant is avoided, it may reduce personal worry
biggest disadvantages to using an Agent are that the
charges can be significant and there is no guarantee
they know what they are doing
Landlords will see their dreams of a steady rental
income shattered due to the actions of a third-rate
LETTING AGENT. It is not enough to
just hand over the keys and expect the money to roll
in. Every year Landlords loose money on LETTING
AGENTS who are inefficient or unprofessional,
not to mention the mismanaged Tenants who fail to
pay their rent.
There are many good Agents out there and the
following questions may be helpful
long have they been in business?
they a member of a recognised industry body?
the staff trained to industry standards?
they carry out tenant reference checks themselves
or do they use a referencing company? Can you
see some samples?
they up to date on legislation affecting landlords?
they have professional indemnity insurance?
they have a detailed knowledge of the market in
the area where your property is located?
are their fees? Can they show you a list of all
is their policy on holding rent and deposits on
your behalf and are they a member of the voluntary
Tenants Deposit Scheme?