When you hand over the management of your rental property to a letting agent, they will find a suitable tenant and manage their tenancy going forward. They provide a range of services which can include tenant vetting, collecting rent and carrying out repairs.
Many landlords fear that using a letting agent to manage their property means relinquishing all control over the process, leaving them with little to no input regarding the tenants that are chosen to occupy their property.
The letting agent can take full control of managing all aspects of letting your property, including the services offered under tenant find and rent collection. They will communicate with the tenant throughout the tenancy, organising maintenance, inspections, check-in, check-out, and any deposit disputes. This is a favourable option for landlords with little experience in property management, who have other commitments, or simply live far away from the property. Alternatively, letting agents can provide a more basic service wherein they advertise the property, source tenants, and leave the rest to the landlord.
In many cases, landlords will leave tenant selection and vetting to the letting agent who will have established procedures for finding the perfect tenant for each property. Other landlords may have certain stipulations about who their property is let to.
It is unlawful to discriminate against anyone for any of the following reasons:
It is perfectly legal to submit any application for vetting procedures such as credit checks and referencing.
Landlords use letting agents because it allows them to let out their property without having to worry about the day-to-day management. They may be busy with jobs and family life and don’t want the extra hassle of dealing with tenants, collecting rent, maintenance, and other aspects of property management.
Letting agents can provide a range of different services from the initial appraisal of your property value, to finding and vetting tenants, letting the property and ongoing maintenance.
Landlords can use a single agency or multiple agencies depending on their requirements and preferences. The options are called:
In most instances, landlords will opt for a sole agent as this prevents extra complications. If they have more than one property in their portfolio, they may opt for different agents for different properties, perhaps because one has specific market knowledge in a particular area.
As a landlord you are able to decide who is best qualified to manage your property. This means that you can change letting agent whenever you like. Any tenancy agreement on a property exists between the landlord and the tenant, not between the letting agent and the tenant and is unaffected by a change of agent.
Letting agents are banned from charging tenant fees. Both landlords and letting agents cannot charge for things like:
If a tenancy began on or after 1 June 2019 these fees are banned. This also includes tenancy renewals on or after this date.
We support landlords with a fully managed service to keeps costs low, maximise rental incomes and reduce void periods. We look after rental properties efficiently and cost effectively, going above and beyond what the law demands, to provide a secure and reliable service for landlords and tenants alike.
Contact us today to find out more
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