With plans for the mandatory licensiging of letting & managing agents recently scrapped, it is more important than ever to appoint a reputable agent to manage your property. A good agent will assist with the marketing of the property to responsible tenants and ensure you comply with all the necessary regulations whilst protecting your asset and money. Look for a recognised Logo and ensure the market secor the agent targets is a good match for the type of tenant for your property, eg young professionals / families / students....
1) Ensure your Agent is professionally qualified, eg holding a BTEC in Letting & Management
2) Check they hold Client Money Protection Insurance.
3) The NALS website lists all member agents, a quality assurance check.
4) Ask where security deposits are held, with which accredited organisaiton - ie insurance based scheme / DPS
5) Clearly identify what is offered in a 'fully managed' service and the fee structure.
6) Ask for recommendations from their current clients
7) Ensure your agent fully references and credit checks the tenants.
8) Is your Agent going to work at a time to suit you and your potential tenants?
9) The Agent should have expert local knowledge of the property market.
10) How will your property be presented to market?
The Lettings industry remains "unregulated", not having to meet minimum requirements of qualifications or Codes of Practice. It is therefore especially important you ask the right questions and know in whose hands you are planning to place your property asset. The appointment of a reputable agent is of paramount importance, delivering not only exceptional service but also peace of mind!