| Using An Agency:
Letting
agencies can be an unscrupulous bunch and you must ensure that you pick
the right one. Every agent that comes to see you will want your
business and therefore you are a valuable commodity to them.
First
appearances can be deceptive but bear in mind that all agents should be
of a smart appearance – this will give you a good indication as to how
they operate their business – believe it or not I have seen several
agents turn up in jeans and jumper to value a 5 bedroom house.
Needless to say they did not have a clue what they were doing. The
agent should be smart – this indicates that they take their business
seriously.
Furthermore,
the agent should have a good look around your property – they need to
know exactly what they are going to be marketing.
Talking of
marketing, double check where they are going to advertise your property
is it just their window or do they have regular advertising in the local
paper?
Do not have a
board if you are away from home a lot. The boards are a great
advertisement for would be crooks to have a snoop around and see if
anyone is home. Boards can be a useful means of advertising
but be careful.
Agency fees
can be a point of contention. Many agencies, especially in London
charge 10% plus VAT for not only the first year but also for the
second. Check their contract and see if you can negotiate a lower
fee for the renewal year – after all it only involves sending out a
piece of paper. A decent agent is worth paying for. Many
agencies will not give you a second look if you try and negotiate their
first year’s fee as they pride themselves in their work. If they
are that good and they attract the right sort of tenants then it can be
a godsend.
Every agent
should explain what you need to leave in the property, what condition
your property should be in and point out any defects that may effect the
rental.
Every agent
should go through the safety laws with you – this is a must and any
agency that does not will not be worth anything to you as they obviously
do not take their job very seriously at all.
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