Letting agents play a very important role in matters related to land and property. An experienced letting agent can help make or break a deal between a property owner and tenant. Letting agents provide a lot of services to tenants and property owners. In this article, we will tell you what services letting agents offer.
What Are the Services Offered By a Letting Agent?
1) Background and Credit Checks – Once a tenant makes an offer to a property owner, a letting agent would do some background research and make sure that the tenant has a sound credit history. Letting agents talk to banks or financial institutions, references from employers and previous landlords. They make sure that a tenant will be able to make future payments easily and any payments will not be delayed. Experienced letting agents are able to assess potential tenants and even advise if they feel a certain individual would not be suitable.
2) Inventory – Once a tenant feels that a tenant would be suitable; he draws an inventory and condition report. This will record the condition of the property including furniture, wallpaper, paintwork, sanitation facilities and carpet. A letting agent will also record the entire contents of the property. Once a tenant leaves the property, a letting agent would check if all the things are in order and nothing has been misplaced. Any wear and tear is also taken into account.
3) Agreement and Paperwork – Tenancy agreement can be easily purchased. However, it is better to let a letting agent handle all the paperwork. A letting agent can give you better legal coverage by revising the agreement through professional property lawyers. A letting agent will develop an agreement which is beneficial for both parties. A tenancy agreement should include:
1 Length and cost of the tenancy
3 Responsibilities of the tenant
4 Miscellaneous properties important to a property
You should also include a clause in your agreement which allows a letting agent to begin showing your property to new potential tenants in case the existing tenancy has nearly finished. This will make sure that your property does not remain vacant for a long time.
4) Property Management – A letting agent will handle all kinds of routine affairs related to your property. Due to this, you will not have to spend any time worrying about various matters related to the property. A letting agent will collect the rent on your behalf, arrange for any maintenance repairs, alert the owner about any major issues and periodically visit the property to check that everything is fine. A professional company will also make sure that the tenant is satisfied. With the help of a letting agent, a property owner will not have to collect the rent on his own. Relation between a tenant and landlord will be cordial. Moreover, a landlord will not have to worry about any delayed payments.
Mike is a freelance writer who writes on different topics such as home loan, real estate and social media. His famous articles includes article on letting Agents Exeter. He loves to travel and make new friends.