When you use a letting agent, you need to know that your Edinburgh property is in safe hands. Whether you rent out many properties or just one, you should always get the best service possible. The rental market has ballooned dramatically over the last few years. Not just buy-to-let, but also the growing popularity of people looking at rental property as a long-term investment.
There are many letting agents in Edinburgh promising you excellent service and the best returns on your property. But given that agents become responsible for hugely important legal and financial matters on your behalf, it’s crucial that you make sure you use the right one for your needs. These tips will give you an idea of what you should look out for. And perhaps even help you to recognise when it’s time for a change.
Consider their location
It makes sense to use a letting agent located in the same area as the rental property. Some landlords make their choice based on agents being members of a trade or professional body. However, if you choose a letting agent that’s miles away from your property, you and your tenant may not always receive the best service. Some may even be reluctant to travel to your property if there is an issue. It is sometimes better to change to a more local agent, who would be able to attend when needed.
Think about your service level
Many letting agents break their service down into three levels:
1. Tenant-find only.
2. Tenant find and rent collection.
3. Full Management.
You should consider what you need your agent for. Do you only need them to handle the fees, or should they tackle maintenance issues too? Deciding what you can deal yourself and what you would rather they handled is important. It can mean that you only pay for what you really need.
Compare the fees
Different letting agents will have different systems for fee paying. Some may take a portion of the rent. However, others will charge depending on how many times they need to visit the property. You will need to decide which kind of system you prefer, but it is worth doing some calculations to see which may result in you paying less. Don’t forget your property is your investment and should be making you money.
The bottom line is that a letting agent should take the stress out of renting out your property for you. If you feel that letting out your property is taking up too much of your time and causing you too many headaches, then it might be time to consider choosing a new Edinburgh letting agent for your property.