If you have decided to rent out your property, there are plenty of advantages to using a local firm
For anyone new to property rentals, one of their first decisions is whether to use a local letting agent, a big estate agency chain or an online service – or even go it alone. We look at your options and consider the advantages of choosing a locally based firm.
Seven advantages of using a local letting agent
If you have decided to rent out your property, there are plenty of advantages to using a local letting agent.
For anyone new to property rentals, one of their first decisions is whether to use a local letting agent, a big estate agency chain or an online service – or even go it alone. We look at your options and consider the advantages of choosing a locally based firm.
Why use a letting agent?
Landlords are not obliged to employ a letting agent. However, there are some very distinct advantages to using one, even if it’s just to advertise your property to tenants. Only estate and letting agents can list properties on the portals such as Rightmove, so it’s useful to use a letting agent while finding tenants, even if you want to self-manage your property going forward.
Letting agents can help with other aspects of renting out property too such as managing repairs and maintenance, handling check-ins and check-outs and collecting rent. Whether or not you use one really depends on the amount of time you have to devote to your property business.
What are my options when choosing a letting agent?
If you wish to use a letting agent you have three main options:
- Local letting agents – with one or more branches on neighbourhood high streets.
- Big letting agent brands – national names you see in every UK city.
- Online letting agents – there’s a growing number of online agents who offer varying levels of service depending on budget
What are the advantages of using a local letting agent?
1. They often have a bigger market share
It might surprise you to learn that smaller letting agents often have a bigger market share in their areas. This is often because they are well-established firms, known in the community with plenty of word-of-mouth recommendations. Market share is important as the bigger the local reach, the more likely the letting agency will find the right tenants for you.
2. They have good local knowledge
Local firms often have a much better grasp of the market when it comes to lettings, meaning they can help you set the right rent and market your property effectively. They also have a good network of tradespeople – helpful if you’re using their property management service.
3. You can develop a better working relationship
It’s much easier to develop a good working relationship with a letting agent from a small high street firm. Staff turnover often happens less frequently and, with smaller teams, it’s easier to get to know everyone. When it comes to online agents, communication is carried out online or by phone, and you’re unlikely to speak to the same person twice.
4. They have plenty of ways to find you tenants
As long as you use an agent of some type – whether online, high street or chain, your property will be seen by people looking to rent via the agent website and the property portals. However, a local agent will have these channels as well as its own database of prospective tenants and the passing trade of people looking in branch windows. Some would-be tenants prefer to have this personal service, so they can discuss in detail their requirements and hear about new properties before they are even advertised.
5. They can take care of property viewings for you
If you’re time poor and want to manage your rental property at arm’s length, you will probably prefer to have a letting agent conduct viewings for you. Some online agent offers this service via a local freelancer, but not all do, meaning you would need to make other arrangements.
6. And manage your property
While big chain and online letting agents will offer a tenant finding service and even rent collection, they may be less likely to offer a fully-managed property service is this is what you require. As we’ve said neighbourhood firms also have good local contacts to call on when needed.
7. Some offer additional services
A local agency can offer a range of additional services, from high quality photos to show off your place to tenant finding and referencing and rent collection. Again, some online firms will do this for you but others won’t so make sure you check what is included in your package.
If you’re looking for a local letting agent to help you rent out property talk to us.
We’d love to tell you more about our services for landlords.
To get in contact email James Allen directly here james@allen-residential.co.uk or mobile 07773 412300
For further information on the company CLICK HERE