Some 55% of landlords using letting agencies do now know whether the agents are in any professional body.
Some 37% were aware that their agent was a member of ARLA but if they were members of any other trade bodies, they were little-recognised – only 11% of landlords knew whether their agents were members of RICS and 9% knew whether they were in The Property Ombudsman scheme.
Just 8% know whether their agent was in NALS and only 3% knew whether their agent was in Safe Agent Fully Endorsed.
Other bodies – including the two additional ombudsman-type schemes from which letting agents can choose membership from October onwards – did not feature amongst the replies.
The findings came from the Property Academy’s latest annual survey, which questioned a sample of 2,948 landlords across the country.
Two other interesting findings emerged from this year’s survey, recently published.
The first was that void periods was by some margin the biggest worry which landlords had about their portfolio – significantly outstripping problems such as arrears or property damage. When there was a void, 10% of landlords expected daily updates from an agent on the hunt for a tenant; an additional 43% expected updates at least two or three times a week.
The second was that only 7% of landlords would definitely use an online agent in preference to a high street agent; conversely, no fewer than 56% of landlords would definitely use only a high street agent. However 37% of landlords were not sure.