How to Find a Legit Letting Agent
How to Choose a Letting Agent to Manage Your London Property
Great letting agents make a world of difference to their clients.
They're star performers who keep tenancies running smoothly, properties well-maintained and landlords on the right side of the law.
But not all letting agents are equal. Unfortunately, a small minority are rogue operators with ulterior motives.
So how can landlords find a reputable, legit letting agent to manage their rental? Let's find out.
But first, a cautionary tale
This story, recently reported by the BBC, is a prime example of what can go wrong if you get hoodwinked by a rogue agent.
A North London couple were moving abroad for work and advertised their property online.
When an 'agent' approached them and promised to find City workers to rent the property, the couple agreed. They left the country thinking their home was in safe hands.
However, months later, the couple discovered that the agent and tenants were bogus and the family home was being used as a cannabis farm. Ten tonnes of soil had been dumped inside the property causing serious damage.
Tips to help you find a great agent
Be social media savvy
Be wary if an agent contacts you out of the blue on social media, especially if they don't have a web or high street presence. If someone only messages you via social media or WhatsApp, ask yourself why.
Website scrutiny
Some rogue agents go to great lengths to create slick websites with fake listings. However, often, the property photos look suspiciously generic. That's because they are generic; there is no flat for rent; the dodgy dealer has just downloaded stock interiors images from the web.
Google reviews
A reputable agent who has been in the business for years will have a slew of positive Google reviews from satisfied customers. No social media presence and no Google reviews? Say no thanks.
Accreditation
Letting agents must be members of a Client Money Protection Scheme and a Tenancy Deposit Scheme. Ask agents to prove they have such membership, then double-check with the body in question yourself.
In England and Wales, letting agents must also be part of a Redress Scheme.
Do some detective work
Top agencies take pride in their team and feature employee profiles on their website. Do some digging to see how this information correlates with LinkedIn and Facebook profiles.
Word-of-mouth recommendation
If a friend or colleague sings the praises of a local agent, take note. If someone has a long and successful track record, and is a community stalwart, it's a good sign.
Don't take a chance with your investment property. Choose your letting agent wisely.
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