The right letting agent can be the difference between becoming a succesful landlord with a thriving and effectively managed property portfolio and a stressed out property owner, barely making ends meet.

 

Here’s 7 key traits to look for when choosing the ‘right’ letting agent for you:

 

Finding the perfect partner has never been easier. Or so we are told… In love, you can download an app and find your dream date with the swipe of a finger. Looking for the best home insurance deal to suit you? Comparison sites have got you covered. But choosing the right letting agent? There’s no app for that (yet).

Last month, we discussed how teaming up with the right letting agent can save you time, money and provide peace of mind. (For a recap on the benefits of working with a letting agent, take a look at ‘Do I Need A Letting Agent? 6 Reasons Why You Might…’). But with over 13,500 estate agents in the UK, the majority of whom manage lettings. How on earth can you tell which is the right letting agent for you?

 

Finding The ‘Right’ Letting Agent

Finding the right letting agent is a lot like meeting ‘the one’. They always pick up the phone when you call. They’re there to help you out of a pickle. And, they always have your best interests at heart. But for the relationship to work, it’s best to make sure your values align. After all, the perfect partner gets on with your friends. Just as your agent needs to have a good relationship with potential tenants in the area. They need to be consistent in the level of service they provide. In an age of fingertip-information internet searches, check out their history online like you would with a potential partner.

Don’t let the pizzaz dazzle you to what matters most. Corporate agents may have all the swagger, but it’s what’s inside that counts. It’s important to get to know an agent before you get carried away and sign up to a deal.

Corporate agents will carry out the same services as boutique independent letting agents. But the manner in which the agents provide these services can be like chalk and cheese.

Larger, corporate brand agents often have many clients to balance. To operate successfully, it is only right that they have highly structured processes in place. The question is, can their occasionally inflexible processes and procedures bend to you and your individual needs?

In contrast, independent letting agents tend to have customer service at their core. You can recognise them by their cosy offices, local dial codes, just-boiled kettles and friendly smiles. Client-focused, they are happy to adapt to best serve your individual needs.

As with any new relationship, it’s best to take it one step at a time and weigh up your options before making any big decisions, such as signing up to a letting arrangement deal. To help you out, we’ve compiled a list of 7 key traits that in our opinion the ‘right’ letting agent absolutely has to have:

 

(1) Local area experts

The ideal letting agent should know your town like the back of their hand. While they don’t necessarily have to be ‘born and bred’ locals, they should possess an intimate knowledge of the area to provide top-notch service.

Ask yourself, could this agent pass the lightening round test? Prospective tenants are eager to learn about everything from transportation links to nearby amenities and quality schools. Therefore understanding the locality is pivotal to attracting the best tenants.

Independent agents often boast deep ties to the community. In some cases, (such as ours) they’re family-run businesses passed down through generations. With this extensive local insight, comes the ability to skilfully match the perfect tenant to your property. Ensuring a fruitful and often longer-lasting rental experience for both landlords and tenants alike.

 

(2). Consistent Service

There’s no denying the wow factor of corporate brand estate agents. They boast big shiny offices, have locations across several areas, and sport catchy logos that exude professionalism.

Impressive? Undeniably. But don’t let sparkly branding blind you to what matters most: consistency of service.

What could be more frustrating than getting lost in the ether? Getting cut off during phone transfers or passed around between departments. Nobody enjoys hold music.

When the chips are down and you need your letting agent’s help, it’s comforting to know their name. It’s helpful to deal with the same person each time you call, and reassuring to put a face to the name.

Busy corporate letting agents often lack that personal touch. Larger companies often direct different queries to independent departments, sometimes spread across different offices nationwide.

In theory, you could end up making three calls instead of one. Especially if you need to discuss lettings, finances, and management queries.

By contrast, independent letting agents often have a small team, typically less than 6 members per office. Not only do they remember your name, but also how you take your tea (because yes, you’ll actually be offered a cuppa!). To us, it’s a no brainer. Why speak to several contacts when you can deal with just one?

 

 

(3). Part of the ‘in crowd’

Choosing an agent who is the ‘expert in the area’ ensures that as a landlord, you’ll have the cream of the crop when it comes to tenants. Your ‘local expert’ agent has all the bases covered. They know everything about the locale: the best schools, which supermarkets deliver, the tastiest takeaways, and then some – they know everyone.

Independent letting agents are ingrained in the local scenery. You might bump into them at the post office or share a harried nod during the school run. You probably even frequent the same pub.

Their familiarity extends beyond mere acquaintanceship; other people in the neighbourhood know them too. Knowing faces is the trade of local estate agents. With their expert local knowledge, they tend to attract more tenants. After all, they’ve gotten to know numerous local renters over the years. Chances are, they already have the perfect tenant for your property on their books.

Long story short, friendly independent agents like to chat with you. They take the time to pick up the phone and reach out to potential tenants, keeping them informed about new properties hitting the market. By contrast, busy corporate agents often leave this task solely to their weekly automated ‘upcoming property alert’ emails, potentially causing you to miss out on that perfect tenant. We know who we’d choose!

 

(4). Quality Service & Good Value For Money

Money certainly matters. But the fee shouldn’t be the sole driving force when choosing the best letting agent as price, whilst important, is not always a good measure of the quality of the service you’ll receive. Instead, look for value for money by considering what your letting agent offers for their fee.

Quality of service encompasses more than just the fee; it also includes their turnaround time. Be sure to ask any potential letting agents about their average duration from listing a property to successfully letting it out. And beware of false promises. Some larger agents may guarantee a two-week timescale. However, sometimes it’s worth taking a little longer to search out the perfect tenant.

Strike a balance between cost and time—after all, your time is money.

 

 

(5). Rave reviews

Now, time for the fun part — review time! A letting agent’s website will give you a great idea of who they are and what they’ve accomplished. However, for the real truth, it’s best to conduct your own independent research.

Scour Google Reviews and Facebook to find out what other’s are saying about letting agents in your area. But be cautious of ‘fake reviews’ – volume doesn’t always reflect success and service. Impersonal avatars should be considered a red flag, and vague reviews lacking detail may also be the work of a paid professional in some cases. While you’re playing detective, try to gauge:

 

• How knowledgeable is this agent?
• What is their customer service like?

 

And once you’ve narrowed down a list of your top three, it’s time to mystery shop! Give your prospective letting agent a call and put them to the test. Pose basic questions such as:

• How much rent would you expect my property to fetch in monthly rent?
• How will you attract tenants for my property. or perhaps;
• What measures will you take to ensure quality tenants are recruited for my home?

 

If the agent answers your questions with honesty and confidence, without making you feel like you’re burdening them, this is a good indication that all those reviews you’ve read about their fantastic customer service are true!

 

 

(6). Endorsements and accolades

By now you may have a potential agent in your sights. Before finalising your choice, check out their qualifications. Just as you would seek out a qualified electrician to rewire your home, or a certified dentist for root canal surgery. Your property rental should also be in the hands of an expert.

Consider, whether your letting agent is registered with a trade body or ombudsman. Keep an eye out for key logos such as the purple RICS emblem (Royal Institution of Chartered Surveyors), the propertymark protected logo or the blue Property Ombudsman logo.

These agencies aim to reassure and safeguard the public by encouraging their members to adhere to membership rules, including clear codes of conduct and the enforcement of disciplinary measures for those who fall short of their expectations.

Membership of these bodies not only provides a greater level of protection to the public. It’s also a great indicator as to whether your letting agent is open, transparent, and keeps pace with evolving industry standards.

 

 

(7). The Letting Agent’s Philosophy

Last but not least, consider the philosophy of your potential letting agent. We recommend choosing an agent that’s values-led, prioritising care and customer service over merely hitting their targets. After all, both you and your tenants are people, not just numbers, right?

And whether the property you’re letting is yours or a loved one’s, once a deal is finalised, it becomes your letting agent’s responsibility. Honesty is an invaluable quality in an agent. Look for a letting agent with a reputation for honesty and outstanding customer service.

Some agents may just tell you what they think you want to hear. Trust your instincts. Take the time to conduct thorough research to determine if they genuinely have your best interests at heart. Remember, sometimes an agent with a longer turnaround time is the one making sure you get the right tenant for your property.

 

 

Get In Touch

With all that said and with thousands of letting agents out there, remember that finding the right letting agent for YOU is the most important factor. Get in touch to discuss how our letting agents can help to ensure your property remains let for the long term.