Unlike solicitors, letting agents are optional. You can manage your tenants and the upkeep of the property, yourself.
However, in our experience, a letting agent is going to save you a lot of time and by using them, beginners can avoid making a few, potentially expensive, mistakes.
And if your goal is to grow your property portfolio as fast as possible then using letting agents is going to help you achieve that end, much quicker.
Simply, by clearing the day-to-day management of your properties from your schedule, you will have more time to focus on your end-goals and ambitions, more completely.
There are two main things to think about when you are choosing a letting agent:
There isn’t a right or wrong answer to these questions.
Cards-on-the-table, we’ve always found small, local agents, closeby to our properties, to generally deliver a better service.
And yet, this is only an anecdote. The trick is to find a company, with whom you feel comfortable, whatever their size and (to an extent), whatever their location.
But how do you go about finding a good letting agent?
It can be difficult, for sure.
The best advice is to try and get personal referrals and recommendations. Don’t be afraid to pick up the phone and talk to people about their experiences.
But failing that, we recommend looking at associations and regulated bodies such as:
When you are considering a letting agent, you should always ask questions, including, the following: