If you’re a new landlord looking to rent out a property for the first time, you might be feeling a little daunted by just how much there is to do. Between getting the property ready, dealing with insurance and mortgages and going through all the legal requirements (and trying to understand them), it might feel like you don’t have a spare moment in the day. That’s why, rather than do it all themselves, most landlords will choose to use a letting agent.
Now, there are dozens of articles out there that can help you ‘choose’ the right letting agent for your property, but most of them focus on things like location, paperwork and things like that. But at Northwood we understand that there’s so much more to the whole letting process, and the agent you choose can have a real impact on your experience as a landlord. So to make sure you get the best out of your property, we want to share with you some of the most important things you should look for in a letting agent.
Service Level
Of course your biggest concern as a landlord is going to be the level of service you get. And while the type of service you need may vary depending on how experienced you are and how much input you want to have, the level of service you get should always be the same – and hopefully very high. After all, you want to know that both you and your tenants will be taken care of and have a good experience. When you speak to prospective agents, you should be looking at the type of service you need, and how that will be provided to you. If the agent is responding to phone calls and emails promptly, are professional, helpful and always happy to give advice (even if you aren’t a client yet), then these are all good signs for the future.
Attitude
What kind of attitude does your letting agent have? Are they looking to fill your property with any kind of tenant, because ‘let is best’? If this is the case, you might find yourself with some less than ideal tenants in the future, and this attitude can end up costing you a lot of money and causing a lot of hassle. Instead, look for an agent who is more concerned about getting quality tenants into your property, who will take care of your property and stay for a long-term lease. This means they will be happy to do extra vetting, listen to what you want from a tenant and adjust their approach based on that. If you feel your agent is willing to go above and beyond to keep you and your tenants happy, then this is a good sign for the future.
Knowledge
There are literally hundreds of different legal and logistical things you need to know, understand and do as a landlord to make sure your property is safe, your practices are legal, and you are generally being a good landlord. But a good letting agent shouldn’t expect you to know what all of those are, and handle them yourself. Instead, they should be willing to walk you through what needs to be done, be up to date on the latest legislation changes, and take on a lot of that workload for you where possible. Ask your prospective agents about things like safety legislation, repairs and maintenance, deposit laws and EPCs – and their answers should give you a good idea of how knowledgeable they are. If you choose a knowledgeable letting agent, you can be confident that you will be the first to know about any changes in the future, and what you need to do about them. Plus, it means a lot less work for you!
Marketing Strategies
A property without a tenant is going to cost you money, so ideally you want to minimise void periods as much as you can. The best way to do this is to partner with a lettings agent who understands marketing strategies, and has a proactive and innovative approach to marketing your property. Talk to prospective agents about their marketing strategies, and how they will promote your property to prospective tenants. If their answer is just Rightmove and our website’, then they might not be the right agent for you. You want an agent who is as invested in your property as you are, and want to show it in it’s best light. At Northwood, we invest our own time and expertise in making your property look great – from staging tips to having a professional photographer take the marketing photos – and then take an active role in finding you a great tenant for it through our own networks, waiting lists, multiple large property portfolio sites, social media and other marketing channels. We’re so confident of our ability to get you quality tenants, that we even offer a guaranteed rent service to back it up.
Finally, it’s a good idea to listen to other people’s experience. Check out review sites such as All Agents, or read the Google reviews. Remember that there will always be bad reviews as no agent is perfect, but not everyone will take the time to write a good review – so where they’ve done so there must have been a good reason! It all helps to give you a good “feeling” about how your agent is going to look after you, from someone who’s been there before.
At Northwood, our aim is to make sure you get the best experience possible from your time as a landlord. Our service is designed to make being a landlord as simple and easy as possible, so you don’t have to worry about anything. From a fully managed letting service to guaranteed rent, we’ve got every part of your landlord journey covered. If you would like to know more, or have any questions about renting out your property, please just get in touch with us today.
