subject: What A Lettings And Management Agency Does [print this page] Lettings and management agencies play a very important role in the rental market. Not only do landlords turn to them when they want to rent out a property, they are often the first port of call for anyone seeking to rent somewhere to live.
For those wanting to rent out a property, or even a series of properties, the agency's local knowledge is invaluable. They will know the rents being paid in any given area, ensuring that the landlord receives the best income possible. The management services carried out by the agency include inspecting properties and reporting back on any repairs needed, or problems encountered by tenants. They are also responsible for the collection of all rents. Should arrears arise, the agency will take steps to recover them, including the commencement of legal proceedings if necessary.
Agencies do not only deal with the residential side of the market. They manage commercial properties for landlords and also find tenants for them.
A crucial role of a lettings and management agency is advertising the properties for renting. This is done via advertisements in the local newspapers, in their office window and also on their own website. The agency's local knowledge of rental properties is invaluable to the public, particularly those not having an intimate knowledge of the area. Having matched up a prospective tenant with a particular property, they then undertake the formalities such as taking up references and charging the deposit.
Acting as the landlord's representatives they are responsible for rent collection and arranging maintenance. A representative from the agency will also show those interested in renting around the property before the lease is finally signed.
