It’s believed that as much up to 20% houses within England are privately let.
It’s a lot of people and there’s a good chance that the majority of those tenants rent through a letting agency rather than directly from the landlord.
We’ll go over the things a letting agent could offer tenants, the way they work and the advantages from renting with the services of one…
What is a letting agency?
A letting agent is responsible for managing the rental property on behalf of the landlord, and will be a point of contact for tenants throughout their period of staying in the property.
Through a letting agency the landlord can be sure that all aspects of leasing their home is handled.
How can agents be able to work?
Letting agents are responsible for many tasks in managing properties for a landlord. This includes:
* Advertising and marketing for the property
* Locating and reference to tenants
* Hosting viewings
* Doing inventories
* Drawing up tenancy contracts
* Retrieving and registering deposits of tenants
* Collecting rent
Conducting property inspections
* Managing emergencies and maintenance
The advantages of renting through the services of estate agents Barry
There are many advantages to renting a house through a letting agent , not the least of which is the assurance and peace of mind when dealing with a reputable agent. Ten other benefits you can get as a tenant…
1. Letting agents are subject to regulation
All leasing agents in the UK must be a part of a redress system by law. This means that if you have complaints about their services and haven’t been able to resolve the issue by contacting the representative, you may send your complaint to the scheme, and they’ll help you resolve it.
2. The deposit you make will be secure
If you lease a property it is required to pay a security deposit, which can be five weeks rent , or 6 weeks’, based on the amount of your annual rent.
This deposit must be lodged in one of the three deposit protection schemes of tenancy within 30 days. You must be informed within the same time frame the scheme that the deposit is stored in.
If you rent through a letting agency, you’ll also have peace of knowing that your deposit is completely protected throughout the term of the tenancy agreement.
3. Tenancy agreements that are legally binding contract
When you rent through a letting agency, you’ll be provided with an legally binding and enforceable Tenancy agreement that protects your interests and the landlord’s.
The letting agent should have all necessary paperwork and processes in place to get your tenancy setup quickly and effectively throughout your stay.
4. Safety and health security
When a letting agency manages an apartment for the landlord, their responsibility is to make sure that the tenant and their property are in compliance with all safety and health regulations to ensure your safety.
Your agent will assist you in ensuring that your landlord is in compliance with:
* Electrical and gas security
* Smoke alarms and fire safety conformity
“Sanitation” and plumbing, and heating security
* Repair and maintenance obligations
5. Better selection of properties
With compliance requirements increasing each year, more and more landlords are turning to the services of letting agents to rent as well as manage the properties of their tenants.
So, contacting an agent can provide you with a more options of homes to rent and also professional marketing materials and photos to peruse when you decide whether a property is suitable for you.
6. Viewings with accompanying commentary
A reliable letting agent will accompany you on your viewings and assist you in selecting the right property for you.
7. Local expertise
Moving to a different area may feel like a trip in the unknown, however when you rent via an agent you will be able to make use of their expertise of the local area as well as houses available for rent in the area you’d like to live.
When you talk with a local letting agent You’ll be able to gain a thorough understanding of the region you’re planning to move to before you commit to a rental home.
8. A Property management team.
Letting agents have teams of property managers set up to handle repairs and maintenance issues – and also have great relationships with local professionals and contractors, so you are guaranteed that whatever issues you face will be addressed efficiently and effectively.
9. Excellent communication
It’s not a guarantee that problems regarding your rental property could be a reality, but it could occur.
If there’s an issue tenants must be aware that the agent they speak to will address the issue and security comes from the option of renting with an agent.
Your agent for letting will give you complete information on who to call in the event of an emergency, for example , a boiler failure They’ll then make arrangements that the issue be resolved, while communicating with the landlord.
10. Professional service
In addition to being a part of the redress system the letting agents are part of professional organizations like those of the Association of Residential Letting Agents (ARLA) and the UK Association of Letting Agents (UKALA).
This means that they must follow the regulations of the organizations and have to conduct their business professionally. This means you can have the assurance in knowing that the person you hire will offer professional services and your funds is protected by this scheme. Client Money Protection program.
Why do landlords choose to use agents to let their properties?
The most important reason why landlords choose an agent for letting in order to handle their rent properties is to ensure their peace of mind.
For landlords, being compliant and staying up-to-date with the latest and evolving laws governing property can be a challenge.
A letting agent will ensure your landlord is in compliance and you’re comfortable in their rental house.
They also handle maintenance issues as well as collecting rent and responding to emergencies or issues on the property.
What are the things agents should be checking on when they refer to a specific item?
If you’re applying to lease an apartment through a letting agent they’ll conduct a series of affordability and suitability tests as a landlord’s representative.
The agent you choose to let your property must:
Conduct a credit report with a referencing agency in order to evaluate your financial standing as well as check for bankruptcy as well as other County Court Judgments (CCJs)
Call your boss to confirm your employment status, title and earnings
* Contact your former landlord, if you had one, to get an opinion regarding your eligibility to be an applicant for a lease
Conduct an affordability “stress test’ to make sure your landlord is able to be sure that you can afford the rent for the month.
* Perform a Right to Rent check to ensure that you’re legally able to rent a house in the UK or if you’re outside the UK.
