What does a letting agent do?
A letting agent is a professional or company that helps landlords to let and manage their rental properties. From sourcing tenants to handling legal and administrative tasks, letting agents can help landlords with a variety of tasks. They are contractually obliged to put a landlord's best interests first, ensuring their legal responsibilities to tenants are met at all times. They are also used by tenants looking for rental properties. Whether you are a landlord looking to rent out a property or a tenant looking to find a property, it’s important to understand how a letting agent can simplify the process.
From understanding what a letting agent does to what letting agents charge, this article will guide you through everything you need to know. ehB Residential are trained and experienced in the buy-to-let market and can give informed advice to landlords looking to expand into the investment market or extend their existing portfolio. Our professional experience and local area knowledge also allow us to help tenants looking to rent a property in and around Leamington Spa and Warwick, including villages such as Southam and Long Itchington.
If you’re deciding between managing your rental property privately or working with a letting agent, you’ll probably be asking yourself what does a letting agent do? Letting agents can carry out a wide range of tasks for both landlords and tenants. We will break down these tasks to help you understand more about the responsibilities involved.
What does a letting agent do for landlords?
If a landlord decides to invest in a letting agent, they will get support on a variety of tasks. From advertising their rental property and handling viewings and vetting tenants to drafting tenancy agreements and managing rent collection and maintenance. Here are some detailed tasks our letting team can assist you with.
● Property marketing and advertising: Letting agents ensure your property is listed and visible to tenants using online listing sites to help get you reliable tenants as quickly and effectively as possible. At ehB, all our available rental properties are prominently displayed on the ehB Residential website as well as on Rightmove and OntheMarket.
● Tenant viewings and screenings: Instead of having to show properties and go back and forth with prospective tenants, letting agents conduct a variety of checks which we will discuss below to ensure your tenants are reliable. They will also take the time to show tenants properties that best suit their criteria to avoid any unnecessary viewings.
● Rent negotiation and collection: Letting agents helps you with rent negotiation and preparing rental agreements to ensure legal requirements are met and followed. They also help in the case of missed or late payments by putting together payment plans or providing advice for legal support in the event of eviction.
● Property inspection and maintenance: Letting agents will arrange periodic property visits on rental properties to ensure landlords are keeping their properties well maintained and to ensure the landlord is following the terms outlined in the tenancy agreement.
● Tenant disputes: Letting agents can also help landlords to navigate tenant disputes by addressing any concerns and de-escalating conflicts or legal disputes between landlords and tenants.
What does a letting agent do for tenants?
When a tenant decides to use a letting agent, they will get support with a range of tasks, from property search and viewings to liaising with landlords and ongoing support during their tenancy. Here are some of the tasks our professional team of letting agents can support you with.
● Property search and viewings: Tenants can get support with finding suitable rental properties based on their criteria. At ehB, they’ll have access to a wide range of rental properties in and around Warwick and Leamington Spa.
● Liaising with landlords: Letting agents act as the middleman and save tenants time by liaising with landlords and tenants to ensure the process is as smooth and efficient as possible.
● Deposit protection: Letting agents are responsible for ensuring that all tenant deposits are protected in a government-approved tenancy deposit scheme until the end of their tenancy, helping to give tenants peace of mind.
● Ongoing support and maintenance: Whether you need support with maintenance of the property or something else, letting agents are there to help you every step of the way.
What checks do letting agents do?
When it comes to supporting landlords and tenants, letting agents will carry out a range of checks to ensure the process runs smoothly.
What checks do letting agents do for landlords?
● Property condition checks
● Legal compliance (EPC, EICR’s gas safety, right to rent checks)
What checks do letting agents do for tenants?
● Credit checks
● Employment and income verification
● Reference checks
● Right to rent checks
What do letting agents charge?
We understand that when it comes to thinking about investing in a letting agent, you’re probably going to be asking yourself, what do letting agents charge?
What do letting agents charge for landlords?
Landlords can choose between let-only and full management services when it comes to the services we offer at ehB. Fees usually consist of either a percentage of the rental amount or a fixed fee for the services.
What do letting agents charge for tenants?
When it comes to charges for tenants, the 2019 Tenant Fees Act limits the fees that letting agents and landlords can charge tenants. Tenant fees are not allowed except for holding deposits, rental payments and refundable deposits.
How ehB Residential supports you
Whether you are a landlord looking for support with your buy-to-let property or a tenant in need of a rental property, our experienced and professional team offer local expertise, effective marketing strategies and a commitment to delivering a seamless and stress-free lettings experience from start to finish. Something we take pride in here at ehB, is our in-house team of experts whose deep local knowledge, years of experience, and commitment to excellence set us apart in delivering outstanding service to our clients.
If you’re still unsure about what a letting agent does or what a letting agent charges, please contact our Leamington Spa team today, and our team of letting agents will guide you along every step of the way. Whether you’re looking for a full management service, a let only service or a rent collection service, we are here to support you.
Request a free valuation for your buy-to-let property or view our properties to let today.