Whether you’re a buy-to-let investor or an accidental landlord, choosing a suitable letting agent will be a key concern for your rental business.
You’ll want an agent to quickly find the right tenants for your southwest London home, and vet them properly. You’ll expect them to be responsive, good communicators, and able to offer great service throughout the tenancy. As experts in letting property in the Coombe, Raynes Park and New Malden areas, we look at the key considerations for anyone asking, ‘how do I choose a good letting agent?’.
Depending on life circumstances, landlords want different things from their letting agents – and companies offer varying service options to match that. Most letting agents offer up to three levels of service:
Your choice will depend on how much time you want to devote to your property business. The more hands-on your agent is, the more you’ll pay in fees, so give this some thought. Think about your priorities and look for agents offering the right service options for your needs. Bear this in mind when looking at reviews and testimonials.
There is no legal requirement for letting agents to be members of a trade body or accreditation scheme, but it’s worth checking if they are. Some agents will be members of ARLA Propertymark (formerly the Association of Residential Letting Agents) or Safeagent (formerly the National Approved Letting Scheme), as these organisations have codes of conduct that members need to follow.
However, letting agents are required to be members of a government-approved redress scheme, so check that they are signed up to either the Property Ombudsman or the Property Redress Scheme.
Choosing a local letting firm can make a difference, particularly if you want to be an arm’s length landlord, who leaves much of the property management to your agent. A local agent will be more convenient for your tenants, too. If you’re considering expanding your portfolio of properties, check whether the letting agent covers the areas you’re looking at. The benefits of having a local agent aren’t just about where they are physically based. They may better understand the rental market in your area, and how to boost your chances of finding the right tenant.
Letting agents may charge a flat fee or a percentage of the monthly rent. You’ll pay more depending on the level of service you choose. Get quotes from a few agents and compare like with like. Don’t automatically go for the cheapest fees—look for the best value by comparing levels of service and how well the agents score in terms of reviews and testimonials.
Carefully check the contract before you decide, looking at what you’re getting for the fees and if there are hidden extras. Be careful to check all the terms and conditions, particularly about ending the contract and what happens if you’re unhappy with their level of service.
Ask for landlord testimonials and references and follow up. Also, read online reviews of the agency on Trustpilot and other sites. If you know landlords in the area and can get personal recommendations, all the better. Google searches can also reveal reviews by tenants—if lots of them are complaining about the service they receive, this should ring alarm bells.
Meet the agents on your shortlist and get a feel for how well you’ll work together. Ask plenty of questions to get a full picture of how many homes like yours they have on their books, how many tenants are actively looking, and how long they think it will take to let the property. Consider, too, how approachable they are, how quickly they return calls, and whether they fill you with confidence.
If you’re looking to rent out property in the Coombe, Raynes Park and New Malden areas, talk to us. We’ve been managing rental properties in south west London for more than 35 years and have an excellent reputation locally – plus we have plenty of tenants looking in the areas right now.
Ticking off the items on this list will help you keep track of your legal responsibilities when renting out a property.
Book a quick phone consultation with one of our negotiators.
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