The Letting Agents Role

Letting agents play an important role in the buy-to-let industry and a good agent can help make or break your lettings experience. So what should you expect from your letting agent?

Professional reputation

To attract good tenants, the agent needs to be well established in the local area and have a good reputation. Try to find agents that are members of national letting organisations, such as ARLA, as these will provide peace of mind for both you and your potential tenants.

Credit checks and references

Once a tenant's offer has been accepted, the letting agent will do some background research to ensure they are suitable.

Credit references from the bank or building society, plus personal references from employers and where applicable, previous landlords are all standard. For the self-employed, references are expected from an accountant or solicitor.

Through their own experience, letting agent's should be able to assess the suitability of potential tenants and advise if they feel that somebody would not be suitable.

Inventory

Once the suitability of the tenant is assured, an inventory and condition report will be drawn up. This records the condition of the entire property, including carpets, curtains, furniture, wallpaper and paintwork, along with a list of the entire contents of the property.

At the end of the tenancy, the inventory is used to check that the contents and condition of the property are the same as they were at the start. Changes resulting from general wear and tear are taken into account.

Tenancy agreement

Although it is possible to purchase tenancy agreement forms 'off-the-shelf', an agreement produced by a letting agent is likely to give better legal coverage having being revised on numerous occasions by specialist property lawyers.

The agreement should include:

-- Length and cost of the tenancy

-- Deposit to be paid

-- Responsibilities of the tenant

-- Any other specific matters important to the property

It is also a good idea to ensure that a clause is included that allows the letting agent to begin showing the property to new potential tenants, once the existing tenancy has nearly finished. This will help to ensure that you minimise the amount of time that your property is vacant.

Once the tenancy agreement is signed by both parties, the agent will need to advise the tenant on changing the utility bills and council tax payments to their name. They will then need to wait for the cheque for the deposit and first month's rent to clear. Once this has happened, the keys are given to the tenant and they are allowed to move in.

Ongoing management

Throughout the tenancy the agent will be responsible for collecting the rent, arranging for maintenance repairs to take place, alerting the landlord to any major issues, plus periodic visits to the property to check all is well and that the tenant is satisfied.

Concluding the tenancy

At the end of the tenancy, the agent is responsible for checking the contents and condition of the property against the inventory report, returning the tenants deposit, minus any monies for damaged property or missing items and ensuring that utility bills and council tax payments revert back to the landlord.

Don Suter is Managing Editor of the UK Property Portal (http://www.ukpropertyportal.co.uk), an online directory and magazine for UK property sales, rental, surveyors, mortgages, conveyancing, property insurance, removals, news, investment and development.

For more information, please visit our property rental section.

---

Selling Your Home Yourself ? Pricing It Appropriately

When you're selling your own property, whether it's a house,... Read More

Preparing for a Showing

As soon as you decide to put your home on... Read More

Estate Planning

Estate planning can enable you to control your property while... Read More

What are the Elements in Real Estate?

Each element has a specific color associated with it. Because... Read More

Unravelling The Real Estate Buying Process in Canada

If you're a foreign national thinking about investing in the... Read More

Secrets of Making Money from Real Estate - Part 3

Great, now how do I actually INVEST in real estate?Investing... Read More

Creative Real Estate Investing

With a job that paid $3.40 an hour, I saved... Read More

Property Investing - Am I Buying for Profit or Prestige?

All of us have emotional preconceptions and assumptions. They are... Read More

Selling Houses: Flooring & Feelings

Buyers think they love Italian tile and other hard floor... Read More

Real Estate Feasibility Study (Cost Side) - $1.2 Billion Developer Tells You How To Do One

There are two sides to real estate development feasibility study:... Read More

Fixing Houses: Mixing Your Own Paint for Savings and Harmony

To make the maximum profit on your investment properties, you'll... Read More

Selling Your Home ? Alone or with a Broker?

How do you decide whether to sell your home (or... Read More

Five Things to Help Sell Your Home Fast, and For More Money

Selling your home requires some thought and a clear plan... Read More

Where is Florida Investment Property

Florida Investment Property ? Why Investing is a Wise Decision... Read More

Finding Southern California Real Estate Foreclosure Property

Southern california real estate foreclosure:If you want to find southern... Read More

Relocation Humor: Why I Bought A House

The Rental Experience in South FloridaReaders: This is based on... Read More

Maximizing Curb Appeal and First Impressions to Sell your Home

We all know that a home or property of any... Read More

Kings Bay, Saint Marys and Kingsland Georgia Real Estate - Mortgage Lenders

When looking for a home, it is important to first... Read More

How To Simplify Your Real Estate Buying/Selling Experience

Today's real estate consumer has a lot to consider during... Read More

How To Realistically Get Started As A Real Estate Investor

When it comes to real estate investing, most beginners find... Read More

Apres-Ski

European tax haven Andorra enjoys the same fiscal benefits as... Read More

Real Estate Investing: Infomercial and Mentoring Scams

Flipping through late-night infomercials recently, I saw two real estate... Read More

5 Simple Steps to Sell Your House Fast!

The decision to sell your house wasn't made on the... Read More

Apartment Financing Explained

So you're interested in entering the world of property management?... Read More

Selling Houses: The Basics of Design Psychology

I'm often asked about the basics of Design Psychology, which... Read More

According To Sellers, Silence Isnt Always Golden?

When trying to sell a home, silence isn't always golden... Read More

How Much Home Can You Afford In Todays Market?

If you haven't figured your credit worthiness and borrowing power... Read More

Condos Vs. Condo Hotels For Vacaton Home Ownership

Condo hotels, also called condotels, are a relatively new concept... Read More

Home Selling: Making It Easy On Yourself!

It's a dream for many to buy and take ownership... Read More

Quality of Life in Sussex County Delaware. Facts, Statistics, Observations and even opinions!

We Sussex Countians are fortunate in many ways as we... Read More

Should you Sell your Home yourself?

Should you sell your home yourself? Yes and no. Yes,... Read More

Selling Houses with Curb Appeal and Design Psychology

Curb appeal is the most important challenge you'll face when... Read More

Finding the Right Buy to Let Mortgage for Your Investment Property

Finding the right buy to let mortgage is crucial to... Read More