Understanding Different Levels of Letting Agent Services I The Property Fox Leicester
Posted on 28th June 2023
When it comes to renting out your property, hiring a letting agent can be a great way to streamline the process.
Letting agents can offer a variety of services, each designed to meet the needs of different types of landlords. From simply finding a tenant to managing the entire property, there are many levels of service available.
So, how do you know what level of service is right for you?
In this blog post, we'll take a closer look at the different types of letting agent services and how they can benefit you. Please note, not all letting agents will offer all the services.
Tenant Find Service
The tenant find service is the most basic level of service offered by letting agents. As the name suggests, this service is designed to help landlords find suitable tenants for their properties.
The letting agent will usually take professional photos and advertise the property on various platforms, arrange viewings, conduct reference checks and set up the tenancy agreement.
This service is ideal for landlords who have the time and expertise to manage their property themselves but need assistance with finding a tenant.
With this level of service, the landlord is responsible for the day-to-day management of the property, including rent collection, maintenance, and inspections.
Rent Collection Service
If you don't want the hassle of chasing rent payments, a rent collection service may be the right choice for you. With this service, the letting agent takes care of rent collection, leaving you free to focus on other aspects of your life.
The landlord will still be responsible for property management, such as arranging maintenance and inspections.
This service is ideal for landlords who don't want to be involved in the day-to-day management of the property but have the time and expertise to handle most issues that might arise.
Fully Managed Service
A fully managed service is the most comprehensive level of service offered by letting agents.
With this service, the letting agent takes full control of managing all aspects of letting your property, including the services offered under tenant find and rent collection.
They will correspond with the tenant throughout the tenancy, organising maintenance, inspections, check-in, check-out and any deposit disputes.
This service is ideal for landlords who want a hassle-free way of managing their property, especially if the property is located far away from where they live.
Tailored Service
If none of the above services quite cut it for your needs, some letting agents may offer a tailored service.
This means that they will work with you to create a bespoke package that meets your specific needs.
This service is ideal for landlords who have unique requirements or a large portfolio of properties that require more customised services.
As you can see, there are different levels of letting agent services available, each designed to meet the specific needs of different landlords.
How deeply you want to be involved in the management of your property will determine which level of service is right for you.
By understanding the differences between these services, you can make an informed decision that is most beneficial for you and your property.
WANT TO FIND OUT MORE?
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