6 Things a Letting Agent Can do for You
If you have a property that you rent out, you are essentially in the landlord business. As such, you may want to consider the services of a letting agent. Such an expert can help you manage any property and tenants, all the while you reap the benefits of the business. Depending on how many of the tasks you are willing to take, letting agents can help you out a lot. Following are the most common services that letting agents provide:
- Finding good tenants – one of the major duties of a letting agent lies with finding tenants for their client. As a landlord, you know just how important it is to ensure that your property doesn’t remain vacant. No tenants mean no rent and no revenue. A letting agent can help you find tenants quickly. This includes marketing the property, advertising and taking photos of it. They can further arrange viewings for you, and conduct right-to-rent checks. They can set up the tenancy agreement. As for deposits, the letting agent can take up an inventory of the property, to ensure the right amount is deposited. This is an important aspect of working with a letting agent, and it might even be the only service you use such an expert for.
- Collecting rent – if you wish to, the letting agent can be tasked with rent collection for you. It is a service that they sometimes add to the tenant find. Apart from collecting and protecting the deposit, the letting agent can also address the rent each month. They will chase after the tenants, serve notices on those that are late, and advise you over what steps should be taken if the tenants don’t pay their rent. Many agents may offer insurance, to protect your income in the case of rent arrears.
- Vetting tenants – finding tenants for the property sure is important, but it is just as important to find the right ones. This means working with tenants who stay long-term, cause no problem and pay their rent on time. There is no doubt that every landlord wishes to have such tenants. A letting agent can do some checks for you, before you sign with a tenant. The expert will minimise the risk of running into tenants that aren’t serious and cause trouble.
- Prepare the property for a new tenant – many things must be done, when a tenant vacates the property. For starters, there might be a need for repairs and maintenance work, to prepare the place for the next tenant. Additionally, there is cleaning. All of these are tasks that a letting agent can arrange for you. That way you can welcome new tenants with as little disruption and downtime as possible.
- Property inspection – this is another important aspect you can delegate to your letting agent. When inspections happen and how they are performed can be a matter you don’t concern yourself with. The letting agent will serve the notice and arrange all matters of the question.
- Communication with the tenant – it can be the letting agent that answers phone calls and emails from tenants. They can get queries and questions, and deal with the matters promptly. Communication with tenants is an important aspect, which you may dread, but it is not a problem for a letting agent.
These are most of the typical services that a letting agent can do for you. Make sure to ask more about their work and arrange a service package that best works for you.
