…made when choosing a Letting Agent, and how to avoid them
Letting Agents come in all shapes and sizes. Whether you are a newbie landlord or have a sizeable portfolio of properties, it is imperative that you choose the right Letting Agent for you and your circumstances. The correct agent for you will fit with what you are wanting to achieve.
Iain and Sharon at HomeXperts Purbeck and Poole hope you find the downloadable report helpful and wish you great success with your buy-to-let investment.
The report goes into detail about the six most common mistakes as listed below:
Mistake “One” Choosing an Agent based on their fees
Iain and Sharon would never advise to choose your Letting Agent based solely on their fees, especially one that is offering really low ones. It is imprtant that you get value for your money and your own personal situation.
Check out the report for an example to explain this.
Mistake “Two” Using an Agent without reference checking them
Before choosing your letting Agent you should do as much research on them as possible.
Iain and Sharon feel the best way to grow their business is by referrals, being recommended to you by somebody you know and trust. However if this is not an option then take your time and do as much due diligence as you can.
Testimonials on their website are a good starting point, about their service but also about the people themselves. Ask questions on how they will work with you and what makes them different.
The report goes into more details of what to do when choosing an agent.
Mistake “Three” Using an Unregulated Agent
The lettings industry is completely unregulated and landlords are frequently the victims of poor service at the hands of unscrupulous Letting Agents. Basically anybody can lease a high street unit or set up an on-line Agency with no experience at all and call themselves a Letting Agent! By choosing a Letting Agent who is regulated will give you peace of mind that they are legal and compliant.
Iain and Sharon are qualified and regulated. Read the report to see what this entails.
Mistake “Four” Using an Agent who markets property badly
When it comes to marketing think of the three “P’s” – Price, Presentation and Promotion.
A lot of agents will not market ‘To Let’ properties in the same way as those ‘For Sale’. But Iain and Sharon do not see why there should be a difference. You are paying them for a service, it is their job to let your property and that should include everything they do for a sale.
This report tells you what else to look out for about agents marketing your property.
Mistake “Five” Using an Agent that doesn’t understand the eviction process
Before choosing a Letting Agent you should check their level of knowledge and if they are qualified in what they do.
Eviction can be a difficult process, so having an agent who knows the eviction process is vital to assist and support you through it.
If an Agent doesn’t know how to correctly serve an eviction notice then they can delay things further causing more emotional distress and loss of rental income.
You can see how to avoid this in the report.
Mistake “Six” Using an Agent that doesn’t offer any Rent Guarantee Insurance
If your tenant defaults on their rent, as the Landlord you are still responsible for paying your mortgage and if you are unable to meet these payments then you run the risk of your property being repossessed.
Evicting a tenant can take time and be costly, so you should ensure you have the necessary insurance in place to protect your rental income and cover all the legal costs.
Your agent should have thought about such circumstances and have the facility to offer you protection.
The report tells you more about how to protect your investment.
For the full report Download the PDF here