Use an agent or not
The agent's job is to take the burden away from the landlord so they do not have to deal with compliance and management issues.
Some Landlords use agents on a tenant find basis whilst others opt for Letting and rent collection or full management. It is critical where using an Agent you fully understand what you are engaging them to do and you satisfy yourself they are performing their duties. Should they fail in their duties you as the Landlord will always be liable for their actions -
for they are your agent.
The decision to use an agent or not is highly subjective and one that may be based on factors such as time and effort versus cost of your time and the time you have available.
What will the agent's fees be and what is this money worth to you. Furthermore what time and resources are you willing to commit to managing the property and tenants yourself. Its a lifestyle choice fees vs time and ability.
How to select an Agent |
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What will your agent do for you? |
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- Recommendations from other landlords
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Choose 3 agents in the local area and visit them all in person
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Check their organisation skills – ask them to do three things. These can be quite small as posting terms & conditions, e-mailing you their contact details and confirming their tenancy deposit scheme. Check that they do this, if they don’t they haven’t noted your request or just haven’t done it – either way this displays poor organisation.
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Don’t take them at face value – many people can talk a good game but don’t deliver.
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This will be defined by your management agreement and terms of engagement
They may be appointed on Tenant find, rent collection or full service. Services they provide include
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