When choosing a letting agent in the UK, there are various things to consider, including their knowledge of your local market, their service levels, their prices, and their reputation.
The purpose of having a letting agent is to make your life as a landlord easier, so the main thing to check is that they can take on all the elements that you are looking to outsource.
You’ll want to choose a letting agent that has experience in your local area – for example, if you are based in South London, you’ll want a property manager based in in South London to make sure you’re getting the best local expertise.
Choosing a professional letting agent like J Property Management can help you maximise your profit as a landlord without the day-to-day stress. From getting in the most reliable tenants to making sure you’re up to date with compliance, they can handle the hard part for you, whatever your needs as a landlord.
Get in touch with the team for a no obligations quote today.
Factors To Consider When Choosing A Letting Agent In The UK
When choosing the right letting agent for you, there are various factors to consider. Here are the main things to take into account:
Local market knowledge
You’ll want a letting agent with expertise in your local area to have the most accurate information when it comes to tenant demographics and rent valuation.
Take a look at their experience in your local area, including how they advertise the properties and where they market them. This will help you ensure that your property will be seen by the right audience.
Check prices
Next, you’ll want to know that you can afford the services of your chosen letting agent. Make sure to inquire about their fees to understand their fee structure and any hidden costs that might arise. Within their prices, check exactly what they include.
Most letting agents will have a price structure – with different services offered at different costs. If you decide that the full property management price is too high, think about what services you absolutely need and check if they offer a separate price for those services.
If you have a number of properties in your portfolio, check if you can get a bundle deal.
What service level you need
As a landlord, you can decide how hands-on or hands-off you want to be. It may be that you want a letting agent to be responsible for everything; however, you might prefer to be more involved with your tenants and just let the letting agent handle the initial tenant sourcing or monthly rent collection.
Whatever your priorities are, have these clear before approaching letting agents and assessing the different options available. For example, are you looking for short-term let management or long-term? Do you need someone to be on call 24/7 for your tenants or do you want to handle the communication yourself? Are you looking for a letting agent who specialises in Airbnb management? Knowing these answers before you start will help you find a letting agent to suit your specific needs.
Before starting, take time to understand the different service levels offered by the letting agent. Be sure to clarify the range of different levels offered and what each level involves – including things like tenant sourcing, regular property maintenance and legal obligations.
For each service level, make sure to understand what you as a landlord will be responsible for and what the letting agent will take responsibility for. This means that everyone is on the same page from the offset.
Assess communication styles
Choose a letting agent who is communicative and responds to you when you need them to.
Whatever level of service you choose, you will need to be able to communicate easily with your letting agent for any property issues that could arise.
Before getting started, it’s useful to have an idea of how the letting agent will communicate with you – how often they’ll contact you, the updates you’ll receive and in what format.
Do your homework
You want to choose a trustworthy property management partner so do your homework. Read online reviews and check if they have a good reputation in the local area. Feel free to ask other landlords in the area about their recommendations.
Also check the legitimacy of the company, verifying if they are members of relevant professional bodies and registered with the Property Ombudsman.
What Questions Should You Ask When Choosing A Letting Agent?
Before getting started, you may want to clarify certain information. These are some useful questions you could ask your letting agent:
- What are the prices for different service levels and what do they include?
- What are their average void periods (time between tenancies) and how long does it take them to get tenants in?
- What is their tenant screening process?
- Are there any hidden costs?
- Who is responsible for managing maintenance and repairs?
- Who is responsible for communicating with tenants?
Is It Worth Using A Letting Agent?
Yes, using a letting agent is usually worth it.
When you’re a private landlord, you have complete control over your rental property and any profits. However, it also means you’re permanently on call. From emergency incidents to client queries, you need to be available 24/7.
Not only that, you are responsible for maximising occupancy – making sure that your properties are not left vacant for extended periods of time so that your profits don’t suffer.
Paying for a letting agent is worth it if you’re looking to free up your time and still benefit from the profits of your property investment. They allow you to be as involved as you wish, with flexible levels of service to suit your preferences.
Finding A Trusted Letting Agent in the UK
At J Property Management, we are a highly experienced and dedicated team of property managers with expertise across London and the rest of the UK. Offering everything from tenant sourcing and rent collection to full property management solutions, we help you find a flexible solution to suit your needs as a landlord.
Not only that, we are so confident in our work as a letting agent and property management company that we even offer performance based guarantees or your money back. Get in touch today to discuss how we can help you manage your property.
