Using an Agent – Check your Options!
Like most things in life, you pay for what you get! Owning and renting a property is a major expenditure and if you do not want to do it yourself, then choosing an agent can be a challenge.
Going for the cheapest might seem like the simple answer because what can go wrong? The answer is, a lot can and most of which costs a tidy sum to put right.
A professional and respected agent will belong to an association, so they will be regulated; be trained to do the job, so they will know what is needed to be done; and have a solid understanding of your legal and compliance duties as a landlord, thus keeping you and the tenant safe.
There is a lot of work required to set up the property to rent out and then to find the correct most suitable tenant. If the job is done professionally, there are “over 100” pieces of legislation that need to be adhered to and complied with! A competent agent takes most of these in their stride, so you do not realise the complexity of the job involved.
In order to make sure you chose correctly and to your satisfaction; do not be afraid to ask several relevant questions of the agent to make sure they do know what they are doing and then compare agents.
When you have whittled down your favourites to just one or two, then you can decide; having the facts before you. Remember, you do pay for what you get!