Landlords / Why do you need a letting agent?

Letting a property is not quite as straightforward as it might seem. Finding a suitable tenant, collecting rent and managing a tenancy can be complex and time consuming.

The letting industry operates within a strict legal and regulatory framework which embraces property law, health and safety law (including fire, electrical and gas regulations), The Housing Act, The Landlord and Tenant Act as well as general commercial and civil law. This framework is designed to protect landlords and tenants and ensure fairness.

In the event of a dispute between landlord and tenant or where a landlord needs to take possession of a property, there are often set statutory procedures laid down. If the procedures are not followed diligently, the landlord’s position could be compromised.

Employing a reputable, experienced letting agent offers the landlord relief from this burden of responsibility and peace of mind.

Choosing the right agent

The first criterion used by many landlords when choosing a letting agent is the commission charged. This is often ill-conceived. Invariably, as the price comes down, so does the quality of service. In this business, where in most cases a landlord’s most valuable asset is involved, quality of service is paramount.

Key questions to consider when choosing an agent:

Is the agent ARLA licensed?

ARLA, The Association of Residential Letting Agents, is the industry’s governing body which sets policies and promotes industry standards and best practice. Licensed ARLA agents must comply with ARLA’s regulations and strict code of practice.

Does the agent have ARLA trained and qualified staff?

ARLA defines and controls the industry’s training and examination programmes. The industry qualification, The Technical Award in Residential Lettings, comprises an exacting four part programme of study and examination. It is both comprehensive and demanding and it has greatly enhanced the status of the profession and the qualified individuals practicing within it.

Is the agent a member of a recognised ombudsman scheme?

The Property Ombudsman (TPO) scheme provides a free independent service dealing with disputes between member agents and landlords or tenants of property in the UK. Member agents must follow The Property Ombudsman Letting Code of Practice, which sets out the framework within which member agents should operate and the standards of service they need to provide for both landlords and tenants.

Does the agent have sufficient industry experience to offer a truly professional service?

How long has the agent been established? Do they understand the law and regulations relating to the industry?

Do they operate from high street shops that are visible and easily accessible to prospective tenants?

Does the agent have an effective marketing programme to procure tenants

Do they have a comprehensive tenant referencing procedure?

If they are managing the property, do they conduct regular checks and produce a report following each check?