Choosing the right Letting Agent

 

Landlord-GuideThe sign of a good letting agent is one where the tenant and landlord are treated equally. When searching for a letting agent you need to decide what your requirements are and focus on the service provided by the letting agent and not the price they charge. Seek out agents who specialise in property letting and management, as these are least likely to be distracted by the potentially larger financial reward that is associated with selling property.

There are many attributes and key requirements that define a good letting agent and below are just some of the most important ones to consider.

Licence

Every letting agent in Ireland must hold the relevant Licence issued by the Property Services Regulatory Authority and if the agent does not have one stay clear. Check out the register of Licenced Agents on www.psr.ie

Contract

The agent should draw up a contract between both of you so you know exactly what the fee is, service being provided and what is included in the service. Don’t be afraid to ask for clarification if unsure of some points and suggest amendments to suit your circumstances.

Business

Ask the agent about their business, find out how many properties they have and what percentage of these are let only and fully managed. The majority of a good agents portfolio should consist of fully managed properties.

Fees

Agents can charge anywhere from 6% to 10% of the monthly rent to let and manage your property. Some Agents will charge a fixed fee no matter what the rent is. The best advice is to compare the service being provided with the fee. You may be considering an agent who is charging 6% of the monthly rent or a low fixed fee but the service may only provide an inspection of your property once or twice every 12 months.  This is not acceptable and you deserve better, after all your property is a valuable asset and it needs to be managed properly.

Communication

Good communication is key. Do not use an agent you have to chase because if you are finding it difficult to contact the agent can you imagine what it is like for the tenant? In this situation a tenant will become frustrated and they will end up leaving your property, resulting in a void period and costing you money.

Dispute Resolution

No matter how great the references a tenant supplies and the checks the agent carries out, there is a risk that some issues may arise during the tenancy with the tenant. Ask the agent what issues they have had to deal with and how they were resolved. An agent that tells you they never have had issues with tenants is telling you lies.

Property Presentation

Many agents charge additional fees for small staging services such as bed dressing, provision of towels and flowers or plants. An agent who is serious about doing business with you and obtaining the strongest rent for your property should provide these for no additional charge.

We hope you found this article helpful and please do not hesitate to contact any of the Tenant Ready Team on 01 9012672

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Written by

Tenant Ready, CEO