Thoughts on modern estate agency
Thoughts on modern estate agency

Thoughts on modern estate agency



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Why do you need a good letting agent?

The other day I was having a discussion with a friend of mine who works at this company. It became obvious that I didn't really understand exactly what they did. So, for anyone else who, like me, has never had experience of using a letting agent or property management company, here is what they told me...

First and foremost a letting agent's job is to find suitable tenants to let the property. As part of this process the letting agent first needs to ascertain what the recommended rental value of the property which will usually involve the agent visiting the property and viewing it. Once a rental figure has been agreed the letting agent will start to market the property, which might be through local newspaper adverts, postings in shop windows or on property rental websites as well as sometimes directly contacting prospective tenants who might be on the letting agents' books waiting for just such a property to become available.

It is also normally the job of the letting agent to show would be tenants around the property and to also act as a mediator in any discussions over the rent or what is going to be provided in the property. In addition, the letting agent will also provide a tenancy agreement for both the landlord and tenant to sign, which is the contract that contains details of the rights and responsibilities of both parties involved. These are the basic functions that a letting agent will carry out, but there are also other things that many will do too. Additional services that an estate agent that is acting as a letting agent may offer include an inventory check of the contents of the property and the condition of each one as well as tenant vetting service to help ensure that they are going to be able to meet the monthly rental payments. Some will also offer services that include arranging for cleaning or repair of the property between tenants and this is what property management really is.

Many estate agents will act as letting agents and will also offer property management services to landlords and this can be very useful for those landlords who may live a long way away from the property or just don't want to be personally involved with looking after the upkeep of the property themselves.
1.8.17 18:38

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