If you’ve recently entered the buy-to-let world, using a letting agent to rent your house can sometimes outweigh the effects of not having one. They often know the local area, can achieve a higher rent and can find a good tenant. Their job will essentially save you time and hassle.

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But, it’s important that you spend time on your research so that you can carefully and confidently choose who your agent is. Good letting agents will be experienced and well-trained. They’ll have procedures and high-quality knowledge that they’ll use day in and day out, and they are the agents you can trust.

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Do I need a letting agent?

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The complexity of the lettings market in the UK has been increasing, meaning there’s an increasing workload for self-managed landlords.

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You might want to consider using a letting agent if:

• You don’t have a lot of spare time
• The rental property is not close to where you live
• You’re not familiar with how being a landlord works
• You want someone else to deal with the stress if anything goes wrong for your peace of mind

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If using a letting agent sounds like the right decision, here’s how to choose the best letting agent for you.

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1. Check their accreditation

You must check that the agent you’re considering is part of a reputable scheme for letting and management. The schemes ensure that the agents operate to a certain set of standards and can be trusted. These schemes include the National Approved Letting Scheme, The Royal Institution of Chartered Surveyors, and many more.

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Other agencies may be SAFEagents, meaning they are a part of the Client Money Protection (CMP) Scheme which safeguards your cash. It’s also officially recognised by the Government. Because they’ll be dealing with a lot of your, and the client’s, money, check their insurance too.

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2. Check that the agent complies with legal requirements

These requirements include taking care of gas and electrical safety regulations. Right-to-rent checks are also legally required as of February 2016.

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Sorting these legalities out as a self-managed landlord can sometimes be frustrating for those who are new to it. Finding a letting agent who is familiar with the process and requirements therefore saves a lot of time and stress. You’ll be able to lay back with confidence that everything legal has been sorted.

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3. Ask about fees and what agents are offering for their fee

The cost of a letting agent often varies from agent to agent. There are several fees, including agent fees, that you may be required to pay so it’s important to be aware of them. Some of the fees include:

• Admin fees
• Estate agency fees
• Renewal commissions
• Individual service charges, such as taking inventories

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Although it might seem smarter to opt for the cheapest letting agent, there may be a reason why their services are cheaper. Be mindful that you will most likely experience a service that reflects how much you paid, and to properly do your research before settling with an agent.

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4. Check that their services fit what you require

To be able to complete this step, you need to know what you want from your future agent. Would you rather have someone manage your property entirely for you, or would you like to be heavily involved yourself? Here are the services letting agents will usually offer:

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• Let-only - The agent will find prospective tenants, organise their viewings, take care of moving tenants into your property, and complete all the paperwork involved in this.
• Rent collection - All of the above and the agent handles the ongoing rental income that is collected from your tenants.
• Full management - The agent will manage your property entirely, and on a day-to-day basis.

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You can choose the level of service which best suits your needs, especially by considering how much time and money you are willing to spend or delegate to an agent.

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5. Check where the agent is based and if they know the local market

If you find an agent with knowledge of the local area, they are going to be very beneficial. They will know what tenants will be looking for, such as good schools and transport links. They’ll also have a reliable network of professional contractors such as electricians and joiners, so that your maintenance issues are always sorted promptly.

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6. Check their marketing efforts

What’s the point in having a letting agent if you don’t have a tenant for your property? Your agent is responsible for ensuring that you have a suitable tenant, and for finding them fast.

To market your property effectively, it’s vital that they are able to reach a large audience so that your property has the best chance of being filled by a tenant. Take a look at how they’ve advertised properties in the past. Ideally, they should be using a variety of methods, from social media to high-street newspapers!

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7. Check their maintenance policies

If you’re handing over full control of the property to a letting agent, it’s important to know how they will deal with any repairs or general maintenance. You’re going to want to keep your property in the best condition you can, and this is why it’s great to check if the letting agent knows reliable contractors who can help sort out any issues within your property if they ever arise.

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8. Check their reviews

The best way to see if the agent you’ve found is worth your time and money is to check what their past customers have said. It’s great if you personally know someone who has used them in the past, but the internet is also an ideal place to find recommendations. This is why it’s so important to research before choosing your agent!

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By making these 8 checks and researching properly, you’re bound to find an effective letting agent that’s perfect for you and your property. No matter what level of property management you want your letting agent to control, there will always be something available for what you require.

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How Lets Insure can help

If you are considering letting your property, Lets Insure is here to help. We offer expert protection and compliance for landlords across the UK. We offer Rent Guarantee Insurance, Home Emergency Assistance, and Deposit Replacement Insurance. You can sign up to our services for free or contact us with any questions you may have and we will be happy to help!  

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