Why Choose a Letting Agent and Choosing the Right Agent
A letting agent is a valuable source for a landlord. According to a recent study about 60% of private residential landlords hire a letting agent for their property. However choosing the right agent for you involves looking into several factors.
Generally there are three distinct services which the letting agents provide. Firstly, there is the Basic Introductory Service. In this the letting agent finds a tenant for the landlord and also provides for a tenancy agreement. Secondly, there is the service of Letting and Rent Collection. Here the agent finds a tenant, provides a tenancy agreement and is also responsible for collecting the rent monthly. Lastly, they offer the service of Full Management. The agent in this case finds the right tenant, collects the rent and in addition to this also arranges for maintenance and also comes into action when the tenancy comes to an end.
Why choose a letting agent?
Hiring the services of a letting agent will save you from the hassle of searching a suitable tenant. He will take on this load. You won’t have to answer the telephone calls or emails of proposed tenants or be there for the property viewing. In addition to this they have knowledge of the local market and thus can give you their expert advice to save you from making a bad property decision. They can advise you on all the legal requirements that your property must fulfill before it can be rented out. They can not only get you a higher rent for your property but also secure a mortgage for you. Moreover these agents have done their homework on all the potential tenants, which means that the tenants they will provide will be more likely to pay their rents on time and at the same time take care of the property.
Choosing the right agent for you
First and foremost, you must always choose a letting agent who is registered with one of the professional bodies. Agencies registered with these bodies provide for benefits like, client money protection scheme and professional indemnity insurance. Joining any landlord association will also be helpful, as you can learn from other landlord experiences.
Moreover you should do a research before you hire an agent. For this purpose you should ask questions from the agent. Ask him if he has dealt with properties like yours before? Ask for the kind of service he will provide. Talk to their current landlords to be sure about their credibility.
Graham Lamont - About Author:
Graham Lamont is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on rent in edinburgh, please visit to let in edinburgh.
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