Having a professional leasing agent on your side is crucial to your success, regardless of whether you’re considering renting out your first property or already have a portfolio of properties.
The issue is that while buy-to-let investments have grown in popularity, a large number of subpar agents have also proliferated. Many of these so-called “experts” merely want your cash, which is something you should try to avoid. What is the best way to separate the wheat from the chaff? This practical guide should make it easier for you to accomplish that.
1. Verify their certification
If your preferred student letting Birmingham agent is accredited, that is the first thing you need to check. Any agent worth their salt will be a part of the system, and they should make sure that you can see it in any literature they provide you. You should look for leasing agents who are proactive in joining programs that prove they are trustworthy because they are not legally obligated to be licensed.
2. Verify their insurance.
You should still verify that your new Edgbastonletting agent has the appropriate insurance coverage, even though the Client Money Protection Scheme goes a long way. Find out if they have professional indemnity insurance and the extent of their coverage.
In addition to protecting the agent in the unlikely event that they are sued, professional indemnity insurance is a good sign of a well-run company.
3. Verify the costs
Your estimated charge amount can differ significantly from agent to agent when it comes to fees. To avoid receiving any unpleasant surprises later, make sure you are fully aware of all fees you may have to pay. They might consist of:
- Individual service costs (such as creating agreements, taking inventories, etc.); Renewal commissions; costs for vacant properties
- Administrative fees
- Estate agency fees (this will be assessed whether or not you utilize the renting agent to conduct the sale; it will be triggered if you decide to sell to the renter)
It is crucial to consider the wider picture when making your final decision, even though you should be cautious about the costs you will be charged. Choosing the cheapest agent for that reason alone could be problematic, so be sure the level of service is also satisfactory. You frequently get what you pay for when choosing a letting agentselly oak, just like with so many other things in life.
4. Verify their repair and maintenance policy.
If you choose full management, it is crucial to understand exactly how your agent will handle any repairs or other regular maintenance that may be necessary to keep your home in good condition. Good-quality, well-known agents will have a “book” of trustworthy contractors available to handle any concerns that may emerge.
5. Look over their ratings and testimonies
What other people are saying about the agent is the last thing you need to look into. If you know someone else who has worked with the agent in the past, it is the greatest method to learn more about them. Word-of-mouth recommendations are a powerful way to verify an agent’s credentials and can greatly ease your mind when making your final choice.
But these days, you don’t always have to rely on recommendations from friends and relatives. Examine the agent’s social media accounts and the numerous agent review websites that are now available online. The Internet may be a terrific resource for research.
You’ll be able to make the best decision possible if you perform these five tests before selecting a letting agent. If the agent meets all of the aforementioned requirements and you feel comfortable working with them, it is probably reasonable to assume that you will be in good hands.