What to look for in a letting agent

If you are uncertain about contacting a letting agent here is a useful tip: agents work to reduce the stress involved letting a property, not to increase it.  So if you happen to find a letting agent that is creating more problems than solving them you should start to think about changing.

The property lettings market is very complex with new legislation constantly coming in to force which means that it is far better to choose the right agent first time.  Obviously personal recommendation is the best way to find a letting agent, however not everyone knows someone who owns investment properties.

With the Internet playing an ever more important part in people's day to day life it would be natural to think that you could use one of the directory websites to find your own tenants.  But this method is fraught with problems because the penalties for not registering a deposit are severe, let alone the problems associated with credit and identity checks.

Letting agents can provide a full management package, but it is entirely up to the landlord if they choose to carry out the management of their properties themselves and only use the letting agent to find a tenant.  Either choice relies on carefully choosing the letting agents, according to professional, integrity and common sense principles.

The first and most important thing to look for with letting agents is whether they are membership of one of the main professional associations. This can be easily spotted on letter heads, letting boards and office windows. Being members of professional associations is the guarantee that the agents have appropriately qualified staff, professional indemnity assurance in case of negligence on their part and bonded or secure deposit schemes to ensure that the tenants' deposits are safe.

When a letting agent is responsible for the property maintenance, they should use reliable and competitive contractors for the jobs, this does not necessarily mean that a letting agent that uses their own staff for maintenance jobs will necessarily be the best

Of course, everything comes for a price and although it is natural to want to only compare prices when surfing the letting agents directories you should look at the full range of services being offered by a letting agent.  Be on the look out for agents having competitive fees, with no hidden costs and surprises but who can also demonstrate that they are able to do the job properly.