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Checking Letting Agents

What The role of the letting agent involves

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Checking Letting Agents

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  1. Checking Letting Agents

  2. The role of the letting agent involves: • Introducing the landlord and tenant - establishing first contact • Being present for all negotiations and communications between landlord and tenant • Inventory inspection • Often includes management of the rental property - the day-to-day operations and details of maintaining the property and addressing tenant issues

  3. What could possibly go wrong? It is unwise to assume that every letting agent is good. Let them prove it. You would not hand over the keys of your personal home to just anyone would you, and so have the same vigilance with an agent. There are a number of things that can go wrong if, as a landlord, you do not check out a letting agent before using them.

  4. Overcharging If a landlord is not careful, a contract between him and the agent could be highly unreasonable. Sometimes a landlord is so busy that he doesn't want to be bothered by the details of property management, and he rushes into a derby letting agents agreement, ignoring the fine print.

  5. Mismanagement of Property Although most letting agents are good, unfortunately there are those who just want to make a quick dollar at any cost. When you meet a letting agent, use your gut instinct & certainly use references and credentials to guide you. However, if you do not feel comfortable, follow your gut and do not use them. It is important to feel comfortable with the people on your team,

  6. Misunderstanding Again, a poor agent is not going to communicate effectively between you and your tenant. Furthermore, if the agent decides not to remain neutral, then both parties are no longer being equally represented. The agent may also not communicate accurately your requirements. If an agent makes promises on your behalf to a tenant, you may have no real recourse to change it, even if you are dissatisfied. The agent is acting on your behalf, which is why you hired him. When he acts in this capacity, it is hard to undo what he does since you gave him the initial authority.

  7. Property Hazards Even more dangerous are the consequences of trusting someone who is unreliable to ensure the safety of your property for both you and your tenants. This can result in property or physical damages to tenants.

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