The property is your biggest asset. You will be handing over control of your rent and most importantly your deposit to the agent. Check a few basic things before you sign anything to prevent any potential problems.
Check Client Money Protection
Is the agent’s client money protected? You need to ensure that any money held by the agent (such as rent and tenancy deposits) is protected in case the agent goes out of business. Many agents are members of agents’ protection schemes such as Client Money Protection (CMP) which guarantee your money in the event that the agent fails. It is not sufficient for an agent to have extra cover in place, all members of reputable agents’ networks have CMP as standard.
Confirm Redress Scheme Membership
All English letting agencies must be a member of a government approved redress scheme. Furthermore, membership of recognised professional bodies such as ARLA, NAEA and DMA ensures that agents are constantly updated with latest practices and are bound by a strict code of conduct.
Ask To See Sample Paperwork
Before you commit to them, ask to see a sample copy of their tenancy agreement as well as their management contract. Look to see what their fee structure is like as well as the amount of notice period that both you and the tenant have. Also check out what happens if you want to withdrawal from their management early and make sure that anything that could be written in small print is clearly explained to you.
Get References, Not Just Reviews
Landlords can also ask for references from current and past clients. Reviews online can look very nice with 5* stars but can be very vague and contain little detail. A quick phone call to another current landlord or past client who has been a client of the agent for a year or so will tell you far more about their service than a bunch of online reviews!
Ask Who Answers Out Of Hours
Can you get hold of someone in out-of-hours emergencies? Will late night calls be directed to an external service with no authority to take any action, or are there proper arrangements for emergencies such as a boiler developing a serious problem at 9pm on a Sunday night with approved contractors called out?
Check Local Market Knowledge
Your letting agent should also be able to tell you the likely rent of your property and how long it will let for. You should also check the housing guidance provided by Somerset Council, as this will outline local licensing requirements and other matters that the agent should be checking before a tenancy begins.
There is more on Letting Agents Bridgwater at https://www.sykesmoore.co.uk/lettings/letting-agent/.
Carry out these simple steps and you’ll find yourself with a trustworthy letting agent who you can trust to manage your property rather than take advantage of you.
Leave a Reply