Why You Should Use a Letting Agent

Letting agents are professionals who find and manage suitable tenants for your property. They take professional photographs and floorplans, advertise your property in local newspapers and magazines, and carry out referencing. They draw up a legally binding tenancy agreement for you. They also prepare an inventory of the property, so that you can deduct the correct amount from the security deposit. These services are invaluable to landlords and tenants. Here are some tips for hiring a letting agent.

When choosing Letting agents in Harrow, it is important to compare their fees and the quality of service. Some agents charge 8% of the gross rent, while others charge as much as 18%. It is also important to check whether there are hidden costs or whether the fees include any services not mentioned on their website. Quality letting agents are worth paying extra for their reliability and good contacts. But beware of those advertising their low fees. These agents might not be able to meet your expectations.

Having a good letting agent is essential if you are planning to rent out your property. An inept agent may be difficult to work with, and it will cost you more time and money in the long run. Moreover, you may have trouble getting rid of difficult tenants. Having a letting agent can help you avoid such situations by performing background checks and tenant screening. This way, you won’t have to worry about a void period that could last for several weeks.

When you hire a letting agent, you’ll be able to get a better price for your property. The letting agent will also handle issues such as rent collection and property inspections. In addition to this, they are contractually obligated to act in the landlord’s best interest. In short, a letting agent is a great investment. They will give you peace of mind while renting out your property. They have extensive knowledge of legislation and are more than happy to answer all your questions about the law.

The government has taken action against rogue letting agents. New legislation aims to protect tenants and landlords alike. Consumer protection laws already protect tenants but a few rogue agents aren’t following them. In October, the Office of Fair Trading released a report on letting agents’ performance, which revealed that one in five tenants were dissatisfied with their letting agent’s service. A tribunal order instructing the letting agent to fix the problem may be issued. Failure to do so may lead to prosecution.

While there are other factors that make letting agents attractive for landlords, they also offer peace of mind and assistance. Using an agent is beneficial when you’re not confident in your own legal knowledge or compliance obligations. Of course, you can also let the property yourself. However, it’s often easier and cheaper to do it yourself than hire an agent. However, before engaging an agent in business, it is always a good idea to check with the appropriate authorities to ensure that they have properly registered and licenced the agent.

Duane Roberts

Duane Roberts

Paul Roberts: As a legal affairs journalist turned blogger, Paul's posts offer expert analysis of legal news and court cases. His clear explanations and engaging style make complex legal issues more understandable for readers.

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