Property Letting Agents - UK Residential And Commercial Letting Explained

Letting Agents or Property Management Specialists are found across the UK, from London to Edinburgh.

If you wish to rent your property out, you can employ the expertise of property letting agents.

There are thousands of letting agents countrywide who manage residential and commercial properties ranging from small studio flats to large penthouse apartments, with prices ranging from a few hundred pounds per month to several thousand.

The letting agent will deal with the day to day renting and management of your property.

Costs range from 5% to 15% per month, or a flat fee is charged.

The level of service will differ from agency to agency.

When letting your house via a letting agent you can generally expect:

The agency will deal with general repairs and often provide out of hours emergency services such as lost keys, plumbing emergencies or burglary.
The agents will usually obtain a deposit of 25% to 50% greater than one months rent, refundable at the end of the tenancy.

When looking for letting agents consider whether they provide:

A free valuation and advice service
Regular monthly payments
High profile marketing of your property
Rent protection insurance
Access to corporate/executive lets
Up to date legal compliance
Careful tenant selection
Experienced well trained staff
Comprehensive Letting and Management service
Friendly efficient service

Letting your property yourself:

If you are considering renting out your property yourself this can be a time consuming business. Some of the areas you may have to deal with are:
Late night or frequent phone calls to your home for repairs or problems.
People who will not maintain or damage the property.
General complainers.
Slow payers.

Legally, you will need some sort of rental agreement with your tenants. A lease is important because, if it is properly written, it will spell out the exact terms, what you expect from the tenants, and what they should expect from you.Before you begin advertising your property, make sure that it is in a suitable condition. Nothing will turn off a potential tenant faster than a scruffy, dirty house. If you have tenants presently in the property, make sure that they are aware that it must be available, in good condition, for showings. Come up with a coordinated plan for when you are going to begin marketing the property and where.