Finding the right letting agent and maintaining a good working relationship with them is crucial for landlords. Whether you are an experienced investor or new to the industry, the letting agent you choose could have an enormous impact on your success and overall experience.
If youre currently working with an agent that is providing a sub-par level of service, you should switch to another agent that will help you to save time and money.
Finding the right letting agent
Before searching for a letting agent, you should take some time to consider the type of services you need. Are you simply looking for a letting agent to market your property and find you tenants? Or, are you looking for an agency to fully manage your property?
This decision will very much be informed by the amount of experience and available time that you have. It will also determine the letting agent that you eventually pick.
After you have decided which services you need, it is time to start researching the letting agents in your local area. Like with all things in life, first impressions are crucial, so you should examine their services and book a formal lettings appraisal. This will allow you to ask questions and understand their offering in more detail.
According to Rightmove data, the days where landlords would choose an agent solely based on their fees are gradually fading out, as this number has dropped from 22% to 9% in the last few years.
Instead, landlords are beginning to put much more emphasis on local market knowledge and reliability, according to the property platform.
If you are looking to instruct a new agent, here are some of the things that you should look out for:
1. Knowledge of the local area and market
Firstly, you should instruct an agent with unrivalled knowledge of the local area and its residential market. Not only will this result in better marketing and shorter void periods, but the agent will also help to set rents that are lucrative for you and attractive for tenants.
2. A personal approach
It is crucial to steer clear of letting agents that appear to offer a one size fits all approach. Every landlord and property is unique, which means your letting agent should offer different management options that suit your individual needs.
Committed to providing a complete service, we offer three different management packages to suit the requirements and budgets of your property, with the ability to opt into add-ons if required.
3. Forward-thinking and proactive
If your property is vacant, it is ultimately costing you money. With that in mind, you must find a letting agent that is proactive in its approach to finding tenants. The speed at which the agent responds to your initial enquiries will give you a good idea of how the agency operates.
Here at FleetMilne, we do not wait for tenants to come to us, we go out and get them. To ensure a property is not sitting stagnant, we regularly carry out marketing reviews and make informed tweaks where necessary. We also start marketing the property before the tenant vacates, which minimizes any void periods.
4. Finely-tuned marketing
When it comes to marketing, your property should be advertised using professional imagery, in-depth floor plans and well-crafted descriptions. Using all of these tools, which we provide as standard, we have achieved incredible turnarounds, including one property that moved from listing to Let Agreed within just 6 days.
In addition to this, we also offer virtual as well as accompanied in-person viewings, which allows us to market to tenants outside of the area, and even outside the country.
5. A single point of contact
In the landlord and letting agent relationship, communication is the key to success. A good letting agent will provide you with a single point of contact who deals with any requests you may have and keeps you updated as and when necessary.
Within our lettings and management packages, we assign a dedicated Lettings Consultant and Account Manager to all clients. They handle every aspect of the process, allowing us to provide a consistent, personalised service.
6. Reliable and professional
If the letting agent operates professionally and helpfully, you can rest assured that they will handle your property in the same manner. From sorting repairs to managing legal paperwork, a quality agent will take care of every little detail to provide you with a stress-free experience.
7. Going the extra mile
Finally, you must find an agent that is going to do everything that they possibly can to get you the best return for your investment. Since 2004, we have become renowned for providing landlords with a complete service, ensuring that no stone is left unturned.
BOOK A FREE LETTINGS CONSULTATION
Do you feel like you could be getting more from your current agent? Are you unsure as to how you can boost your rental income? For a limited time only, we are providing FREE lettings consultations to landlords with property in Birmingham.
A helping hand for landlords, this is an opportunity to learn from industry-leading experts and take a step towards maximising your rental returns.
For more information, please contact us on 0121 366 0456.
