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Questions to ask Letting Agents
When you're considering a letting agent in the UK, it's important to ask the right questions to ensure they are a good fit for your needs and provide the best service. Here are some essential questions you can ask:
1. Fees and Costs
● What are your fees for fully managed, rent collection, and tenant-find services?
● Are there any hidden charges or additional costs, such as renewal fees? When I received the Fully managed contract there were costs in there that hadn't been discussed during our conversations, for example a charge for them to go and test the fire alarm before the tenants move in etc
● How do you handle deposits, and what deposit protection scheme do you use?
2. Property Marketing
● How will you market my property (e.g., online portals, social media, local advertising)?
● How quickly do you typically find tenants?
● What are your processes for tenant referencing?
3. Tenant Vetting
● How do you conduct tenant background checks (e.g., credit checks, employment references) ?
● What is your policy on guarantors, if needed?
Although they do all the background checks and potential short list a number of possible options the final decision is usually down to you!!
4. Compliance and Legal Matters
● How do you ensure the property complies with safety regulations (e.g., gas safety, electrical checks, EPC)? I had to submit all these certificates before a tenant could move in.
● Do you assist with preparing tenancy agreements, and are they compliant with the latest legal requirements?
● What experience do you have with handling disputes or legal issues like evictions?
5. Rent Collection and Management
● How do you collect rent, and how often will rent be paid to me?
● What is your process for dealing with rent arrears?
● What kind of updates can I expect on property maintenance and repairs?
6. Repairs and Maintenance
● How do you handle maintenance requests from tenants?
● Do you have a list of approved contractors, or can I use my own? Watch out for another "hidden cost" subcontractor finder fee
● What is your procedure for handling emergencies?
7. Communication and Transparency
● Who will be my main point of contact, and how often will we communicate?
● How do you handle tenant complaints and concerns?
8. Void Periods and Vacancies
● What is your policy on void periods, and how do you minimize them?
● Will I be charged during periods when the property is vacant?
9. Insurance
● Do you offer rent guarantee insurance, or can you recommend a provider?
● What landlord insurance options should I consider?
10. Track Record and References
● How long have you been operating in this area, and can you provide references from other landlords?
● What is your average tenancy length?
● What percentage of your properties are fully managed versus tenant-find?
These questions will help you evaluate whether the agent is knowledgeable, transparent, and the right fit for managing your rental property.
With me living so far away, Vietnam, I went for the fully managed service and let my house out unfurnished. I didn't want the hassle of having to try and find a plumber for example to fix a washing machine or paying a finders fee for the Letting Agent finding one, you will probably find they have sub contractors to hand, which does help.
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