How to select a letting agent

The majority of landlords manage their properties via an agent. While some choose to manage their properties themselves, it is much less stressful if you let an agent handle it. How do you select an agent? Consider these tips when choosing the best agent to suit your needs.

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What are your needs?

You can choose from different levels of services offered by agents. Decide what you need and how much you are willing to pay. Full management offers the most comprehensive service. As the name implies, the agent will take care of virtually all aspects of letting your home. The agent will find tenants, deal with contracts, collect rent and take care of any maintenance issues. This is by far the most expensive management arrangement.

Another option is to hire an agency solely to collect rent payments and find tenants. Use a service which only finds tenants and drafts contracts, but does not deal with other aspects of property management. For Letting Agents Cheltenham, visit www.meandyouestateagents.co.uk

Consider the fees

The majority of agents charge a percentage of the rent per month or a flat fee. For full-service management, the percentage is approximately 10-17%. You may find that the agent you choose charges a flat rate for their services. This is often the case when they are only providing a tenant-finding service. It pays to research the fees charged by different agents.

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Trade associations are a great place to start

Trade associations can be a great source of information if you aren’t sure where to begin. They will provide you with reputable agents in your locality. These associations have members who adhere to a strict code of conduct when dealing with tenants or landlords. This ensures that you will receive a professional and expert service. Three main associations are available for businesses to join: the Association of Residential Agents (ARA), the Royal Institution of Chartered Surveyors (RICS) and the National Association of Estate Agents.

Ask Around

When seeking local services, many people rely heavily on recommendations from family members, friends and co-workers. You may know landlords who are able to provide you with their thoughts, reviews and recommendations of various agencies. Contact your local landlords association. They should be able to provide you with a wealth of experience and knowledge that will help guide your decision.

Maintenance is a must

There are some additional factors to consider when looking for a company that will do maintenance work on your behalf. If the maintenance fee is included in the monthly management fee, or will it be an extra charge? You’ll need to know if the maintenance fees are included in the management fee or if they will be extra.

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