How to appoint a letting agent when you are renting out your property
Posted: January 2013
By Jo Eccles
If you are renting out your property and you’re managing it yourself, don’t underestimate how much work is involved in making sure that your property performs as best as it can. We started doing property management just over a year ago, and the work load is fairly significant. It’s not always just dealing with maintenance and repairs when things go wrong; often the main bulk of the work is when a tenancy is coming to an end and preparing for a new one.
Firstly, you need to ensure you appoint the right estate agents to market the property. In the lettings market, appointing two or three agents to market your property is acceptable – unlike the sales market where any more than two looks desperate. Appointing the wrong agent can be a very expensive mistake if the agent is not getting the right tenants through the door, as you’re wasting valuable time to get a replacement tenant lined up for when the property becomes empty.
Look at the other properties on the agents’ website. If one agent has other properties in the same building you may want to go with a different agent as your property could get lost – another agent who doesn’t have a lot of similar competing properties is more likely to prioritise yours.
When we appoint letting agents on behalf of our clients, we now always ask them to commit to when the details and photos will be uploaded onto their website and the property portals. Some letting agents post details within 48 hours of being instructed, whereas others can take more than a week just to book a photographer! And always check the quality of the photos as they can vary. I’m always amazed how many photos I seen on the internet with towels on the floor, the loo seat up and the kitchen a mess.
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