10 reasons to use a (good) letting agent to let and manage your property
1. Advice on what figure to set your rent at
Setting your rent at the correct figure is vital to attract good tenants quickly and your local letting agent will know what is letting right now and what price you can expect to achieve. It isn’t as easy as just searching the portals, your agent will know other properties inside out and will be able to advise you on where to pitch the asking price.
2. Good quality marketing and floor plans
Sadly, a lot of letting agents do not produce good enough quality marketing and this can really impact on the levels of interest in your Blackpool property. A good letting agent will advise you on how best to stage your property to produce top quality photographs and will accompany these with a floorplan. Floorplans are essential so your prospective tenants can determine whether the layout is right for them, thus producing more suitable viewings.
3. Accompanied viewings
Your local letting agent should be open 7 days a week and therefore be able to accompany all the viewers around your Fylde property. Accompanied viewings provide honest feedback which is extremely important as it can highlight areas that may need attention to get the property let. The average number of viewings for a rental property is 10 and this time-consuming process can be handled by your letting agent instead of you.
4. Database of local tenants
It is not just about sticking a board up and advertising it on the portals, a good letting agent will have a current database of tenants so your property can be instantly matched to people who are looking for your type of property. This process should be followed regularly to ensure newly registered tenants on the database are sent details.
Pre-qualification is basically ascertaining the status of your tenants, e.g if they have pets etc and ensures that only the right type of tenants are sent to view your Fylde property. It should produce less wasted viewings.
6. Referencing and vetting
It goes without saying that your prospective tenants need to be thoroughly vetted and referenced. Your local letting agent should have a robust procedure to minimise the risks involved. At iMove sales and lettings we employ several tried and tested methods which has led to us having a very small percentage of problem tenants / tenants in arrears.
7. Knowledge on how to prepare a robust inventory
Given the law on registering tenants’ deposits, your letting agent should have an in-depth knowledge of how to prepare a detailed photographic inventory. This document is vital to give the best chance of claiming money back from a deposit at the end of the tenancy. It should include information and photographs about every room in the property and all the external areas. It should comment on the condition and age (if new) of fixtures and fittings and detail information about the gas, electricity and water meters. You should not underestimate how long it takes to produce this document and it is essential to the whole letting process.
8. Complying with legislation
There are now some 160 pieces of legislation relating to the lettings sector and your local letting agent should know these very well indeed and be able to ensure your property complies with the law. The government are introducing new legislation all the time and failure here can lead to hefty fines and penalties.
9. Removing the hassle of day to day dealing with tenants
Every now and then you can get lucky and have a tenant who you never hear from, pays their rent on time and looks after the property very well. However……….. life doesn’t always work like this and you can end up with regular contact calls from your tenants. If they have your mobile number, they could be calling you at any time of day or night, disrupting your family time. Using a good local letting agent, preferably one that’s open 7 days a week, removes all of this completely.
10. Experienced in claiming money back from a deposit
The process for claiming money back from the deposit protection company is now more complicated and time consuming than ever and your local letting agent will know the best way to do this and will be able to use the inventory to prove the condition of the property when the tenants moved in.