This month’s blog, How to Choose a Lettings Agency, is full of practical advice to help you select the right business to help you rent your property – easily, legally and in a way that’s as stress-free as possible.
We’ve bullet-pointed everything, with explanations and commentary to make things super-straightforward.
Renting Your Property. Where Are We Now?
Just a couple of quick points. Here’s where we are:
The rental market is more complicated than it used to be.
To be fair, we feel you know this already. While the property market in Brighton and Hove is buoyant, landlords tread a tricky path. They’re being squeezed, with ongoing legislation just lurking around the corner to trip up unsuspecting property owners who go it alone.
In our opinion, without genuine professional lettings expertise it’s easy to get things wrong.
This matters.
As well as potentially putting your tenants at risk, there’s an absolute worst-case scenario here: you could even, at some point face legal action; costly, stressful and damaging to your reputation. It’s all about the details.
Not All Lettings Agents Are the Same
The good news: you’re on our website.
And you’re reading this blog, which means you’re most likely doing some research.
You’re not going to try to manage everything yourself. Sensible. With an experienced agency, you should have the peace of mind that comes with knowing they’re taking care of everything. Perhaps you’re a future landlord. Or, things are a bit wobbly with the agency you’re currently engaging.
Unfortunately, not all rental agencies are indeed as professional as they should be. (In our view.)
So.
Here’s your ultimate landlord guide to choosing a letting agent. Yes, the Property Moves team IS a bit biased, and yes, we tick all the boxes here, but that’s because we’ve been in business for over 30 years and we know our stuff.
What should you be looking in an agency to help you rent out your property, or property portfolio?
- Property Lettings Specialists
There’s no getting away from it:
Lettings is an exceptionally competitive area of business – and most certainly in this part of the world. It’s hard to get on the property ladder (we mean: nigh-impossible), so renting is a positive, alternative option. And, there is massive demand for property rentals in Brighton and Hove; everyone, it seems wants to live here.
Yet, so many agencies combine rentals with property sales. Would it, we venture to suggest, be better to focus on those that only deal with lettings?
Maybe you shouldn’t muddy the waters.
We think that concentrating on rentals stands in your favour. In all probability, there are more resources to meet your needs, with a sharper, laser-like expertise on what you need.
- Procedural and Legal Knowledge: The Paperwork and the Law
Private rented sector legislation has become increasingly complex for some time.
So, in a blog called How to Choose a Lettings Agency, this ranks as point number one. An agency must be up to speed and able to explain things to you, especially if you’re a new landlord.
Then, when a tenancy application process goes through, there’s vital administration to set in motion to ensure you comply fully with the law, and best practice.
In a broader sense, a legitimate lettings business will remove almost all of the fine, fiddly detail on your behalf. For example, in-depth credit checks, Right to Rent checks, screening and referencing, the Tenancy Deposit Scheme (we use www.mydeposits.co.uk), and much else besides.
Also, should you select a fully-managed service, ongoing legal obligations. For instance, yearly gas boiler checks and five-yearly electrical inspections. Plus, fire safety assessments. Tenancy renewals. Maintenance checks.
There’s a lot to do, and your best agency will take care of your To Do list. If we may say, prompt, early repairs keep your tenants safe, and prevent costly repairs later on.
- Accreditations and Safeguarding
It’s important to check that you and your tenants are protected in the (hopefully unlikely) event that things go wrong.
In Property Moves’ case, in addition to being part of the My Deposits Scheme (a way for tenants to dispute deposit deductions), we’re pleased to be members of the following organisations:
UK Association of Letting Agents
A body representing UK-based letting and management agents. It also safeguards the interests of landlords and tenants, including money protection.
Property Ombudsman
An impartial, independent dispute resolution service for consumers and property businesses.
Client Money Protection Certificate
A government-authorised organisation that protects landlords’ and tenants’ money held by letting agents.
Property Redress Scheme
A scheme where landlords and tenants can escalate a complaint if an agency fails to resolve it.
It also doesn’t hurt if the agency you’re researching has won several awards. And, keeps doing so. Not to boast or anything – OK, we are – but Property Moves has been a consistent Gold award winner from allAgents. This amazing, long-term recognition is based on the numerous positive reviews we’ve received from our clients.
Our latest awards (2024) are for Best Lettings Agent in Brighton, Best Lettings Agent BN3, and Best Lettings Agent in tHere’s our latest collection:
- Extensive Local Knowledge
Experienced agents will have an immediate, near-instinctive internal response regarding how easy or otherwise it will be to let your property.
Plus, your likely valuation and rental yield. The result? They can value it realistically, market it effectively and secure professional tenants faster – without the agreement falling through.
And, avoid the dreaded void periods.
The lettings agent you choose should know everything relevant to the area around your property.
By this, we mean local amenities, shops, transport, schools etc. Also, the broader demographic – the type of people who live there and the “vibe”. For example, students, families, young professionals and so on.
All these things make a difference if you’re looking for tenants who want to put down roots and make your property their long-term home. Also, your property could be in a different area from where you live.
- Transparent Fees
It’s not worth just jumping on board with the agency that charges the lowest fees. Or, that appears to do so. Although costs are a significant factor, by and large you will get what you pay for, and this certainly applies to a well-established agency; they wouldn’t have been trading for so long otherwise.
You don’t want any unbudgeted fees, so do check what the business is offering and what’s included.
- Good Communication
In other words, cliché though it is: proactive client management.
Contacting you ahead of time with good or less-good news and a problem-solving approach to put things right and manage any issues.
And, responding promptly to phone calls and emails. As a client, you come first. But also – your tenants, without whom there would be no income for you and, to be blunt, no business for us either.
Do your homework.
Positive working relationships and professional integrity must be at the heart of every property business. You have to trust your lettings agency to do things the right way. So, it’s worth reading all the online reviews, checking out an agency’s accreditations and awards (did we mention!?) and generally doing your due diligence.
And finally…
In an article called how to choose a lettings agency, consider this:
We buy people, and we make decisions based on emotions.
Choose an agency with a management team you like and respect. Simply put, human beings with business and life experience who relate to your situation; experts who see the bigger picture, and have the empathy and understanding you need and deserve.
Can’t say fairer than that.
Looking to rent out your property? Get in touch with Property Moves on 01273 321 333.