Choosing a Borehamwood lettings agent

Borehamwood lettings agent

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.

As Trutpilot is a Google Partner they will not allow businesses to remove bad reviews without evidence they are fake.

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.

See our post on choosing a local lettings agent below…

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