One of the most challenging and rewarding parts of the property industry is working in lettings, which is why we chose it as the focus of our business. As a landlord, we know that you can often feel alone, which is why many landlords decide to work with a property manager, but how do you choose a letting agent?
Many make a decision based on finances, as we know a lower cost doesn’t equate to a better service. There is incredible value in having the right letting agent by your side; they are experts in the local market, able to advise you when choosing investments, and always striving to find ways to maximise the potential of your portfolio. If you’re thinking of working with a letting agent, here are four killer questions we believe you should ask.
Who will be managing my portfolio?
Consistency and stability is the minimum you should expect from a letting agent managing your portfolio. We know you need a agent who can help shape your vision and ensure you achieve and exceed it. In many big agencies the staff turnover can be higher than in the smaller agencies, such as ourselves, therefore who you might be speaking to today could change tomorrow.
More than that, the experience each property manager provides differs to the overall experience of the lettings agency. All our team have lengthy experience and understand the complexities of the private rental sector; we’re able to keep you abreast of the regular legislative changes and complex regulations. We believe by nurturing and supporting our lettings team they will achieve the best for you.
Do you let property in my area?
Knowing that your property manager has in-depth knowledge of your local area will be extremely important, especially if you have an established portfolio of properties. You may have plans to grow your portfolio over the next few years, so you need to know that your letting agent is able to use their knowledge to help you find the right properties in the right location in a changing market.
Are you flexible for viewings?
We’re in an era where we expect instant gratification; if you want to buy something, you can usually find it online in seconds. If a tenant wants a viewing, they expect that that can be done at a time that suits them, even if it is outside what is deemed normal working hours. Why is this important? A tenant may only try a couple of times to view before they give up, and we don’t want you to miss any opportunities to let your property.
What support do you provide, should things go wrong?
We would love to tell you that every tenancy will be perfect, and we hope you never have to experience the bad. But should something go wrong, it can be a very stressful and confusing process, especially if it is a difficult case where you may have to go to court to get things resolved. This is why it’s important that your property manager has experience of handling such cases and is aware of the steps needed to resolve the situation.
A letting agent who you can reply on is an asset, and you need to be able to trust their judgement. Therefore, when meeting an agent for the first time, ask yourself: is this the agent that I can trust in a crisis? Is this the agent I believe will advise me honestly and will focus their efforts on my best interests?
We know as a letting agent we have to earn your trust, so we invite you to come and ask us these four killer questions and see if we are up to the task of managing your property portfolio.