You may be an ‘accidental’ landlord having to move because of employment. You may be one of the many who bought property to supplement your pension. Whatever category you fall into – you need to minimise the ‘risk’ factor in the letting business – and that’s only achieved by choosing the right agent.
Rightmove lists 81 Letting Agents in the Plymouth area. When I started over 20 years ago, you could count them on one hand.
When choosing your Agent make sure the company sees Lettings as a priority – not just as a tag onto their main Sales business. After the crash in 2009 there was a stagnation in sales and many Estate Agent diversified into Lettings in order to keep afloat.
A bad letting agent can do as much damage to a landlord as a bad tenant can – especially if you have multiple properties.
Many agents will give you a valuation and walk away. Their valuation may be based on little or no experience using on-line tools which show rentals advertised – not those achieved. Experience takes into account a knowledge of attained rentals, the surrounding properties, internal and external decor and many other factors which will affect the final valuation. Make sure your agent is not doing that over-valuing trick in order to win your business.
Check your agent has good back office support. Many corporates outsource the management and don’t have on-site staff. At Martin & Co – Executive Lets you will be allocated your own personal Property Manager who will deal locally with your management, with local tried and tested contractors and you will always be able to speak to someone who knows everything about your property.
With so many people turning to the private rented sector through necessity rather than choice, it is even more important to find the right agent to ensure your property investment is operated successfully with as little hassle as possible whilst generating the cash you need.
The Appraisal is the key meeting. You should expect some real advice. Do you feel safe in their hands and with their expertise? Have they listened to your requirements? Have they been able to answer all your questions? Are they professionally accredited?
The Appraisal – all the clues are there to help you choose the right agent.
Book a free, no obligation Appraisal today. If you are unhappy with your current agent we have tried and tested systems to take over management – and this will always be at nil cost to you.