subject: Get to Know the Benefits of the Letting Agents while Renting Your Property [print this page] It is a wrong notion that being a landlord would automatically mean that you earn a lot of money. There is a lot it than just renting out your property and earning money. It means taking crucial decisions and caring for your renters. This job can be made much easier if you allow an agent to do the job for you. The letting agent will take a fee from the rent. So incase you want to keep your same margin of rent you need to raise the rent. Functions of the letting agent In return for the fee the agent is expected to find suitable tenants that you can let out to. They are also supposed to do all the necessary paperwork. So the landlord does not have to go hunting for the tenant. Also there is no need for communication between the landlord and the tenant. The letting agency is required to inform everything about the property to the tenant and the tenant is supposed to do the same. The list of letting agents can be found in the directory. They can also be sought through the internet. There is a code of conduct that is prepared by the National Approved Lettings Scheme and the Association of Residential Letting Agents that both the landlord and the tenant have to abide by. This ensures that both their interest is met. The letting agency takes the responsibility of making sure all the legal paperwork is in order. This saves time and money for the landlord on legal procedures. But the problem is that the landlord has to pay the agent per month whereas the legal fee is a one time payment. Letting agents may also give advice to the landlord as to how to make the property attractive so it will fetch a good value. They may suggest modernization that may be preferred by modern renters. Thus is it very important to choose the right letting agent. There are recognized associations where the letting agents are registered. Check out the reputation of the letting agent too.
Get to Know the Benefits of the Letting Agents while Renting Your Property
