Shopping around for letting agents is the best way to find the best person to entrust your business with. It is important that you ask a lot of questions and weigh your options when it comes to choosing a real estate agent to handle your property rental, sale, or purchase. Agents will often charge a small percentage of the monthly lease as a lettings fee, so make sure that you discuss their charging structure clearly and ask about the things that are included or are not included in their fee. On average a 10% lettings fee for the first year of service is charged as a standard on rentals. This will sometimes include collection fees, but sometimes rent collection and other services like management fees are charged on top, often about 5% of the monthly rent.
It is also best that you find an agent with a great deal of experience in letting out properties in your area. Better still, look for one that has experience managing the same type of property that you have. It is also best that you go for an agent with an extensive network of clients, including landlords and tenants so you can get in touch with the right people. Know the kind of tenants that the agent typically lets to, especially when you are marketing a property that you want to be well cared for (you don't want your luxury family home to be turned into a den of party-loving students or first-time young-adult renters who still have wild and free lifestyles. Some of the most reputable have a long history of letting to clients that are reliable and trustworthy, especially when renting long-term. You don't want tenants who don't pay rent on time and on a regular basis, nor do you want a landlord who overcharges rental rates.
When you are renting out a property, you want an agent that does full credit checks or at least a thorough study of the tenant's financial capabilities so as not to have trouble on the payment front. Know how your agent intends to market your property so you can get maximum exposure, e.g. putting up big signs outside the property or an ad in their shop, etc. You should also go for an agent with good knowledge of legalities, especially when it comes to legal expenses. Above all, look for a letting agent that you can trust and can be answerable to all the services they offer.
About The Author:
This article is written by Katy Charlton, who is associated with . Home House Estates is central London real estate and letting agents specialising in residential property for sales, lettings and investment. They have been providing high class, beautifully furnished central London houses for 75 years and have a good experience as a real estate and letting agent.