How to pick a local lettings agency
A quick search on google like I have shown below is an easy way to get a list of agents in the immediate area.
My advice is to stick with a local company with a proven track record.
Just make sure you stay away from the cheapest option, as you really pay for what you get!
Trust me, I learnt the hard way and that is another reason for this post.
I will not be naming the company as I do not think it is fair, however when choosing a letting agent, ensure you speak with three separate local businesses and have a range of test questions to hand.
Having a few technical questions will help you see which one has the most knowledge of buy to let.
And they will most likely be able help you manage your rental property as the business it is.
Example test question: How will the recent tax changes to how mortgage relief is calculated affect the average landlords income?
Why is this important?
Your property IS a business and things can go wrong. Having an agent that knows about lettings law is vital in ensuring you do not leave yourself open to issues down the line.
I’ve heard of many landlords complain about agents not protecting the tenant’s deposit, or organising the gas safety certificates in time.
These are just two basic things which can leave a landlord open to major fines!
What is the penalty for not protecting a deposit?
A landlord can be fined 3 times the deposit amount if it was not protected.
So if you have a deposit of £1,000 and it is not protected, the penalty will be £3,000.
This is on top of returning the original deposit to the tenant.
You may think the lettings agent is the one who is responsible.
However, as the landlord, it is your responsibility to check these things are done, as an agent can probably wipe their hands of most issues.
When choosing a lettings agent ensure you read their reviews.
Large review websites like Trustpilot offer customers a chance to voice their opinion.
The best thing to do is speak with the agents.
There are many to choose from, but the ones with the most knowledge will stand out by far.
- How Sky studios will change Borehamwood’s letting market
- Choosing a Borehamwood lettings agentHow to pick a local lettings agency A quick search on google like I have shown below is an easy way to get a list of agents in theContinue reading “Choosing a Borehamwood lettings agent”
- Letting Agents in Borehamwood“Beware of the deal that seems too good to be true” dluckz Which lettings agent should you use in Borehamwood? As a Borehamwood resident I noticed a huge increaseContinue reading “Letting Agents in Borehamwood”
- Borehamwood – Where I get the information & whyBorehamwood’s property market is very confusing, hosting a range of prices for similar properties in identical locations. Some property prices vary up to 40% and can confuse even theContinue reading “Borehamwood – Where I get the information & why”