Finding a new lettings agent for your property can be a lengthy task, but it is important that you find the right fit!
If you are a landlord just starting the management hunt, the best place to start is locally, and to search online for reviews and recommendations. Good agents will have extensive knowledge of their market area and the overall rental environment and have a great reputation with their clients and local people.
Once you have found a few agents to enquire with, make sure to ask plenty of questions before signing a contract! We’ve made a list of top questions you should be asking a letting agent to ensure you find the right management.
What accreditations do you hold?
When searching for the best letting agent to manage your property, it is a good idea to enquire which trade bodies the agents are a member of.
All letting and managing agents are legally required to be a member of a redress scheme, as well as a client money protection scheme, if the agent holds their landlords’ money.
Do you have a track record of success?
Experience is key to a good letting agent! An agency should be able to demonstrate a successful track record of lettings and property management in the local area.
How many rentals do each property manager look after?
You do not want to be part of an agency that manages many properties, but doesn’t have enough staff to look after them – you won’t be getting the service you expect.
Find out how many properties each manager looks after, and the length of time their clients have been using their management services. You want an agent that not only has a good reputation but upholds great customer service for their clients too.
Can I see the contract?
It is essential to see a contract so that you can understand any terms and conditions set out by the letting agency. Make sure to read the documents carefully, as some agents might try to hide some conditions!
Important areas in the agreement are the cost of management, including all fees with VAT, tenancy deposit protection, and the role and responsibilities of the letting agent.
How will the letting agent report?
As part of the service, be clear on the level of reporting the letting agent will be providing. Getting a regular update will be valuable to you; always ask when and how you will be kept informed, and what information the agent will update you on.
What monthly rent will my property earn?
An obvious question, but you’ll want to know your property’s rental potential! When you are given a rental figure, ensure you ask the agent what the value is based on.
The monthly figure should be comparative to similar properties in the area, both under the agencies management and other agents’ portfolios.
How do you market your properties?
You want your letting agent to be attracting good reliable tenants, so ask how they will market your property, and how they conduct viewings.
Ask how many potential tenants are on their database, and how they contact them to advertise new listings. You should also enquire which platforms your property would be marketed on to attract new tenants – do they have a good website, use estate agent boards, social media, or advertise on online property portals like Zoopla, or Rightmove?
How do you screen and reference potential tenants?
Ask the letting agents what kind of systems are in place to screen any potential tenants for your property. They might be subscribed to a tenancy database, able to do an analysis of someone’s past rental history, employment status and credit history, or use an external referencing agency.
So there you have it, 8 key questions you should be asking when you approach a new letting agency! Remember you not limited to these questions; ask all the questions you need to ensure you find the best letting agent to manage your property.
How Church Robinson can help
Established more than 21 years ago, you can be assured that we are the experts when it comes to property.
We are always open and honest about the sales process. Whether this is your first house sale or your 10th, we are always happy to go through the full sales process with you.
We also work with all types of landlords and will work with you to ensure that renting out your property is as stress-free as possible.
Our dedicated and qualified lettings and property management teams will use their experience and expertise to deliver a first-class service and support you at every step.
This will ensure that you know exactly what to expect. We are also always at the end of the phone or email should you have any questions or queries.
As a leading local estate agent in Didcot, Lambourn & Hungerford, Marlborough, Devizes, Newbury and the surrounding areas we are best placed to help you sell or let your property. We can even help you in finding your next home.
To find out more about how we can support you through your house sale contact us today.