What to look out for in a letting agent

Do you want to rent out your property? An investment in bricks and mortar is a great opportunity for those who wish to create additional income to supplement (or replace) a salary and for people who have retired. There’s also the added advantage of allowing you to release the value in your home should you ever need it.

If you’re a landlord, finding the right tenant – one who will protect this investment rather than diminish it – is of paramount importance. That’s where a good letting agent is invaluable. They’ll use established marketing reach and expert knowledge to make sure your property targets the right audience. And, should you opt for a managed service, look after your property and tenants so you don’t need to worry.
But just how do you make sure you choose a reputable company who won’t simply promise the earth and leave you with the burden of nuisance tenants should any problems arise? Below, we run through what you should look for in a letting agent to make renting your property easy.

Membership of a professional body

Although there is no overarching regulation of letting agents in England, the better companies are happy submit to voluntary regulation. Check that your agent belongs to a professional standards’ body such as The UK Association of Letting Agents, which implements strict entry criteria and requires all members adhere to a code of practice.
Landlords need to negotiate complex legal and financial regulation. Therefore, it’s vital to use an agent who is competent, professional and completely transparent.

Where and how will my letting agent advertise?

Check where your letting agent will advertise your property to reach potential tenants. Keep in mind that if the agent is based out of town, they may not necessarily have the best understanding of the local market.
Our location in the heart of Buckshaw Village means that we are in an ideal position to manage local rental properties. Meanwhile, our prominent office frontage is great for attracting passing footfall. We also advertise on Rightmove and Zoopla for maximum exposure.

How easy is it to communicate with my letting agent?

If you’ve approached an agent to enquire about letting out your property and they’re a little slow to respond, then chances are they won’t be of much help if you need to resolve a problem further down the line.

Here at Redrose we pride ourselves on our fast response to landlord and tenant enquiries. We’ve even introduced an app to make the whole process easier. If you choose to let with us, you have the option of accessing My Property File. This is an online tool which allows you to track income and expenditure as well view key information about your tenancy.

Levels of service

If you’re happy to stay on top of key landlord legislation and are confident that you’ll be able to manage the day-to-day needs of your tenants, then you might consider a ‘Let-Only’ service. However, if you’d prefer a more hands-off approach, your agent should offer a ‘Fully Managed’ option.
Either way, your agent should be clear about what is included in the different levels of service available. If you’re uncomfortable about the level of transparency being shown, then you need to ask some serious questions before signing on the dotted line.

Redrose takes pride in acting in the best interests of both landlords and tenants, and we are members of The Property Ombudsman Redress Scheme. If you would like to book a free rental valuation and chat about how we can help you make the most of your property investment, call the Lettings Team on 01257 547062.


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