Letting Agents Dundee is the key to ensuring that your property is let at the maximum rental value to suitable tenants and managed effectively ongoing.
When choosing a letting agent, look for one that has plenty of experience letting properties similar to yours in your area.
This will help you to find the best tenant, which will lead to a longer tenancy and a higher rental income. It will also reduce costly void periods.
1. They Will Market Your Property
A letting agent will do the hard work for you, advertising your property and finding you tenants. They will also take care of the paperwork and legalities that come with letting property.
They will also do the necessary checks on tenants and their references to ensure you have a suitable tenant. Some agents will do a full credit check, while others will ask for copies of bank statements and personal references.
These checks will help to reduce the risk of you having to make expensive repairs or arrange a replacement tenant. In addition, they will be able to advise you on how to avoid problems with your tenants such as rent arrears.
Once a tenant has been found, the agent will do their best to ensure that they pay the rent on time and in full. This will include checking their deposit and helping you to collect the money when they move out.
In addition, they will arrange any necessary repairs and maintenance for the property. In some cases, they will also carry out a property inspection.
Letting Agents Dundee
A good letting agent will have a reputation for delivering a high quality service and should be willing to listen to any complaints or concerns you may have. Agent should be able to resolve these issues quickly and efficiently, and should have a defined complaint procedure in place.
They should be aware of the latest regulations affecting landlords, and should be available to answer any questions that your tenants may have. Manager should also have a network of qualified tradespeople that they can call on when needed.
2. They Will Find You Tenants
Letting agents will market your property, advertise in local and online places, arrange and attend viewings, carry out referencing and checks and prepare tenancy agreements. He will also create an inventory of the property and take accurate, fair deductions from your security deposit when a tenant moves out.
Agency can help you get your property ready to let, including carrying out any necessary repairs between lets or renovations before a new tenant takes over. They can also help you set up utilities, such as water, gas and electricity, as well as helping with arranging the installation of a burglar alarm.
Depending on the type of letting agency you choose, they may also be able to offer you a number of other services, such as rent collection, maintenance and handling of deposit disputes. These can all be added on to the basic tenant-find service, which usually involves taking photographs and floor plans of your property, arranging and attending viewings, preparing a tenancy agreement and creating an inventory.
A good letting agent will also be able to refer you to a range of local tradespeople who can complete any required work. This can save you time and money if you need to make an urgent call out for a plumber, electrician or gardener.
It’s worth remembering that a letting agent must always act in your best interests, and be transparent about how they operate. For example, they must provide you with information about how they handle complaints and what redress scheme they are registered under.
In addition, they must ensure you are protected by a Client Money Protection Scheme and abide by their Code of Conduct. They must not discriminate against tenants or landlords and must treat everyone with respect and courtesy, including the person paying for their services.
3. They Will Collect Rent
Whether you are a first-time landlord or an experienced property investor, letting agents offer services that can help. They will take care of everything from finding tenants, to referencing and collecting deposits, managing the tenancy and even arranging repairs and maintenance.
The most basic service is to find a tenant for you, which usually includes advertising your property and taking photos of it. They will also arrange viewings, run credit checks and Right-to-Rent checks, set up a tenancy agreement and create an inventory.
Some letting agents offer an additional service that collects the rent from the tenants each month and will also chase up any late payments. This helps to streamline the process and prevents you from having to spend valuable time chasing up debts.
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This can be a one-off fee for the agent, typically charging around 5% of the monthly rental, or a percentage of the deposit collected. It is often cheaper to use a letting agent for this than trying to do it yourself.
Letting agents can also help you avoid costly disputes with your tenants, by dealing with any problems quickly and fairly. They have access to a number of contractors who can do any repairs or upgrades you need.
It can also help you with any legal issues, as a good letting agent will be familiar with all the latest laws surrounding landlords and property. Will be able to advise you on your rights and help you make a complaint should you have a problem with the service they are providing.
As a landlord, you may be used to doing many of these tasks yourself but if you are struggling with any of them, it is probably best to hand them over to an experienced letting agent. Then, you can sit back and watch the money roll in!
4. They Will Take Care of the Maintenance
One of the most important tasks a letting agent does is take care of maintenance and repairs for your property. They will handle emergency call-outs for burst pipes and water leaks, as well as carry out regular inspections of your property to ensure that it meets safety regulations and is in good condition.
This is an essential service – without it, you can’t expect tenants to pay on time and stay in your property for the long haul. Ideally, they should have a proven track record of letting to reliable, trustworthy people on a regular basis who will be happy to keep your home in good shape.
They should also know the latest landlord regulations, and they should be available on the end of the phone to help with any queries or problems that your tenants may have as soon as they occur. They should have a network of trusted professionals, including plumbers and electricians, who can deal with any issues that arise.
If you do have any problems with your letting agent, it is always worth reporting them as soon as possible. This way, you can resolve them more quickly and make sure that your relationship with your letting agent stays on track.
You should also be aware that while most property maintenance jobs are the responsibility of the letting agent, not all are. Some are the tenant’s responsibility, so it is always best to clarify before anything goes wrong.
Letting agents can charge a variety of fees, from a small fee to a percentage of your rent, so it is worth checking how much they will be charging before you commit to using their services. The cost can vary significantly depending on the location of your property and how involved you want them to be.
5. They Will Manage the Tenancy
The tenancy is a legal contract between the landlord and the tenant and the agent has a remit to make sure it is fair. They should also keep the tenant informed about any issues that might arise, such as maintenance work and inspections.
The agent will deal with all aspects of the tenancy including collecting the rent, organising repairs and managing any disputes over the deposit. They should have a clear paper trail to show the progress of any claims or disputes that might arise.
You should always discuss any problems that you have with your letting agent with them, so that they can resolve the issue. This will mean that you do not need to spend any more time on these issues, which can be a major headache.
Ideally, the letting agent should have a defined, complaints procedure to Tennent. which will mean that any issues are resolved quickly and effectively. They should be willing to listen to your concerns and try to resolve them if possible. But in the event that they are not able to help, you have the right to take your complaint to the ombudsman.
Another good way to promote your business is by blogging, especially if you are focused on a specific location. such as London property. Blogging about your area, or property in general will boost your Google standing. it will get you more landlords coming to you for your services.
Once you have a list of landlords who want to let their property. It’s a good idea to stay in touch and keep them updated on new properties that have come on the market. Letting Agents Dundee, This can be done by email, or a quick phone call every so often to check in.