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Letting agents in London are extremely helpful when you’re looking for help as a landlord, and providing better service to clients and your tenants. Communication between your clients and yourself are easier and more efficiently managed through letting agents.
With the help of a London letting agent, like Oasis Living, you’re able to reach your customer’s needs quicker and at ease, while you’re able to relax as they focus on the taxingly tedious landlord responsibilities.
What Is A London Letting Agent?
A London letting agent’s job is to ultimately make a landlord’s life in the UK easier in general for both them and their tenants. They basically communicate the landlord’s wants to the client/s, any requirements needed, and relay bits of important information.
The responsibilities that letting agents are given can involve them taking care of any legal issues from tenants, and putting forward the landlord’s interests are put as the top priority. Tasks like rent collection and inspections are done of the property where the tenant is staying.
Everything being in order and in the best interest of both the client and the landlord is ideal when you’re a letting agent. You’re able to help the landlord find new tenants if current ones are moving, for one reason or another, or if you don’t have any current tenants.
How Much Do Lettings Agents Charge In London?
Depending on the type of agent you hire, experience-wise and alike, and where they’re initially from, the price range of how much letting agents charge can vary. Contracts can be different depending on the circumstances, but the common percentage is 6% – 9% local fees.
The percentage for the agent’s pay is taken from the tenant’s rent and can go all the way up to 15% depending on the services that they provide to the landlord. The costs cover things for their pay, marketing, contracting that needs to be done, and progression from tenants.
While some letting agents do not charge for their work, it really shouldn’t be expressed enough that that is 100% not a safe situation to be in. Having a paid letting agent is a more secure way to ensure the safety of your assets, tenant inquiries, and the other landlord responsibilities.
With paid letting agents you’re able to get guaranteed security and trust, alongside a professional demeanor and positive results every time. Depending on how you want to be paying your letting agent, it can be decided between a monthly installment or an annual one.
What Should You Expect From A London Letting Agent?
The point of a London letting agent is for them to take full control of the management aspect of your property and other related inquiries. This is so you have more time as a private landlord to focus on other important aspects, and more time to yourself.
Agents will offer services under rent collection, and organization in the management department of things. Maintenance and inspections of the property are generally conducted through letting agents, going around, and ensuring the property has no damage done or anything is in need of fixing.
Check-ins and check-outs of any deposits made through the paid accounts from tenants and or related bills. Finding tenants can be difficult but with the help of letting agents from London, like Oasis Living, it’s super easy to manage as they take on the work for you, and find the most compatible tenant.
Communication is key in any relationship, especially with letting agents. You want to be in the know as much as possible when you have a letting agent taking charge of your affairs and clients. The last thing you need is for your tenant/s to be unhappy and for you not to know about it, due to your letting agent being inexperienced and unprofessional.
Final Thoughts
Letting agents in London take the edge off of being a private landlord, and assist with management responsibilities, including tenant communication, and in some cases, marketing.
Communication between you and your letting agent is important, ensuring you are in the know and what may have happened during any property inspections or check-ins.
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