To make sure you get the best results from the current rental market you need to have the right agent on board.
So, to do so you need the right relationships, not the personal ones but the relationship that you might build with your estate agent, especially when it comes to rentals.
Having been a letting agent for over 25-years I still act for clients who have now become friends. Estate agency is, in the main, unregulated but this is changing with time with the need for a redress scheme and regulation through the Associated Residential Letting Agents and the National Association of Estate Agents for sales.
When it comes to a letting the agent, who you appoint is key. They are going to endeavor to find the right tenant for your property, not just that the tenant is correctly referenced and will be able to meet the rental requirements but that they are going to look after the property. Any tenancy agreement makes provision for how and what a tenant needs to do to look after the property but an agent’s prospective and experience can assist with what the referencing might not tell you.
If my experience has taught me anything it’s trying to ‘read’ people and pass this information to my clients. Afterall the achievable rent is one thing, but my clients want to know that their property/asset will be maintained, and I believe that if you have an agent with whom you can build a rapport this is hugely valuable. They are, after all, going to be the main point of contact, especially if they are going to manage your property in your absence and is likely to be a longer relationship, especially if you are being relocated abroad or it’s your investment.
Management of rental properties is crucial if you are in a different time zone, time poor or simply wish to have the hassle removed. After all you appoint specialists to manage your investments, why not property.
So, in essence, building that trust and rapport is very important. As I said, fees, rent etc are all important but can you trust the person who’s going to be your point of contact and taking responsibility for your asset.
This has always been my mantra to look after people the way I would want to be looked after and look after the properties as if they were their own but above all be transparent and honest; it’s how I would like my business dealings to be.