What questions should I ask a prospective letting agent?

Whether you are a new landlord, or a seasoned pro with multiple properties in your portfolio, one of the most important decisions that you need to make when renting out your property is which agent to go through.

When you are researching different letting agents and collecting quotes, it’s important to ensure that you understand all aspects of their services, the levels they offer and the price they charge. Aspire to Move are here to help make sure you conduct all the appropriate research, with our handy guide of questions to ask letting agents.

Services and Fees

At the top of your list is probably costs and fees. It is imperative that you understand what packages are offered, and what is included in the regular fees, so you don’t get surprised by any hidden charges popping up. Three questions you may want to ask are:

What services do you offer, and what is included in each service package?
How do you structure your fees, and are there any hidden or additional charges?
Can you provide a detailed breakdown of your fees?

Experience and Expertise

One of the most crucial pieces of information to obtain when looking into different agents is their expertise. You wouldn’t want to choose an agent that has no success stories, so asking about experience and client satisfaction is a good idea. Being able to trust your letting agent will help your experience go smoother. Here are three questions that might be good to ask prospective agencies about their expertise and time in the business.

How long have you been in the letting business?
Do you specialise in specific types of properties or areas?
Can you provide references from landlords you’ve worked with in the past?

It might also be worth reading online reviews to get an overall feel for the agent. If they are experienced and offer a good level of service, existing and past customers will have written positive reviews about them.

Local Market Knowledge

As well as their complete experience and expertise, you also want to make sure that your agent has good local market knowledge, so that you don’t put your property up for more or less money than it is worth. A great way of gauging their local marketed knowledge is through questions such as:

What is your assessment of the current rental market in the area?
How do you determine appropriate rent rates for properties?
Can you provide insights into market trends and rental demand?

Tenant Screening and Placement

In your head, you probably have a checklist of what you’d ideally want in your perfect tenant. While it may be unlikely that your agent will find a tenant that matches every piece of your criteria, it’s good to understand what processes the agents go through to find prospective clients. After all, these people will be living in your property, so you want to get the right fit. Questions to help you find out this information are::

How do you screen prospective tenants, including background and credit checks?
What is your tenant selection criteria?
How do you market vacant properties to attract suitable tenants?

Rent Collection and Arrears

Another topic high on your list of questions could be how prospective agents go about collecting the rent money and sending it over to you. These questions may help you to understand exactly when to expect your regular rent payments through from the agent:

How do you handle rent collection and what is your procedure for addressing late payments?
Do you have a system for electronic rent payments?
How quickly are rent payments disbursed to landlords?

When deciding which letting agent to choose, you want to consider any potential financial risks – such as rent arrears. By asking questions about collections and arrears, you will clear up any concerns you may have about what happens if you’re left in hot water.

Maintenance and Repairs

The last thing you want is a tenant phoning you to sort an emergency repair, when you were under the impression that the letting agent handled it. In order to avoid this scenario, it may be worth asking these questions:

How do you handle property maintenance and repairs?
Do you have a network of reliable contractors, and how do you ensure timely and cost-effective repairs?
What’s your policy for emergency repairs?

You want to make sure that your house is looked after, so by checking whether your agents have a list of reliable tradespeople, you can have better peace of mind.

Inspections and Reports

When you are allowing someone else to live in your property, it’s only right that you will want to check in on it every so often, and make sure that it is being treated with respect. Asking the following questions could help you feel more at ease about renting your property out to strangers.

How often do you conduct property inspections, and can landlords be present during inspections?
Do you provide detailed inspection reports with photos?
How do you handle and document property conditions before and after tenancies?

Legal Compliance

Landlords entrusting their properties to letting agents expect a smooth and legally compliant renting process. To ensure that this expectation is met, it is important that landlords enquire about key aspects of legal compliance:

Are you familiar with all relevant landlord-tenant laws and regulations in the area?
How do you handle eviction processes, if necessary?
Do you carry professional liability insurance?

By posing these queries, landlords can safeguard their interests, minimise legal risks, and create a more secure relationship with their chosen letting agent.

Communication

Effective communication between landlords and letting agents forms the basis of a successful partnership. Landlords should prioritise discussing the letting agent’s communication practices to ensure a seamless collaboration. You can ask questions such as:

What is your communication policy with landlords, and how frequently can they expect updates?
Do you have an online portal for landlords to access property and financial information?
How do you handle tenant communication and emergencies?

Tenant Retention

Once tenants have been found, you want to keep them. Tenant retention is crucial for landlords who want to keep a consistent income through their rental portfolio alone. Asking questions around tenant retention will help to ensure that your property is not left empty and profitless for long periods of time. Some questions you could ask are:

What strategies do you employ to promote tenant retention?
How do you address tenant concerns and requests?

Contracts and Termination

Navigating contracts and termination processes is important for landlords who decide to work with letting agents. To ensure a clear understanding, landlords should ask questions about what happens at the end of the contract:

What is the duration of your management contract, and are there penalties for early termination?
What are the terms and conditions for ending the contract with you?
How do you handle the end of a tenancy, including deposit returns and property inspections?
What is your process for finding new tenants quickly, after a property becomes vacant?

Tenant Dispute Resolution

Tenant disputes can be a challenging aspect of property management, and landlords should be well-prepared to handle them effectively. When working with letting agents, it’s essential to discuss their approach to resolving tenant disputes. In order to achieve a clear understanding, ask questions such as:

How do you handle tenant disputes, such as noise complaints or property damage?
How do you communicate these disputes to landlords?

How Aspire to Move can help

Asking these questions, and carefully considering the responses, will help you select a letting agent who aligns with your needs and priorities as a landlord.

At Aspire To Move, we offer our dedicated landlord services to landlords across Bath and Bristol. We pride ourselves on our commitment to excellence and our continuous engagement with evolving legislation to provide our clients with the best advice. We firmly believe that effective communication is the key to stress-free property transactions.