Whether you’re a landlord, or are looking to rent out your property, you may be unsure about the different types of letting agent and have a troublesome time deciding who are the best letting agents in Glasgow for your particular requirements.
Now, there are a few things to look out for in order to make the right choice, including what they charge, how much you’ll pay, and whether they’re worth your money.
Common misconceptions about letting agents
Having a property in the modern day means dealing with hundreds of regulations, so it is no wonder that the lettings industry is a bit of a minefield. The best way to stay on top of the game is to employ the services of a good letting agent. Some letting agencies are better than others, but all have their merits. Some are more personable and some offer better value for money. If you are looking for the best letting agents in Glasgow, read up on their business model before you make your final choice. If you need funds fast, then consult with property sellers who can offer instant purchases on your property.
Be sure to do your homework, and don’t be shy about asking for referrals from your fellow lettings industry pros. It is also a good idea to consult online reviews.
Charge a flat rate for tenant-finding
Using a letting agent to find a tenant can be a great way to relieve the stress of managing your property. Letting agents can arrange rent and collect it from tenants, as well as referencing, screening, and preparing the tenancy agreement. They also handle the deposit and follow up on any arrears. However, letting agents do charge fees. Some will charge a flat rate for tenant-finding, while others will charge a percentage of rent.
When choosing a letting agent, you should make sure they are credible. You should also check the company’s online reviews. You should also check if the company is registered with The Property Ombudsman.
Charge a % of the monthly rent
Having a rental property can be a lifesaver, but it can also prove to be a costly curse. Aside from the mortgage, you’re also on the hook for property taxes, insurance, utilities, and repairs. Luckily, there are ways to minimize these expenses and increase the odds that you’ll be able to make your mortgage payment on time.
The best way to do this is to check out your local rent control laws. Most municipalities have moratoriums on raising rents, which gives renters and landlords some much-needed breathing room. Using a reputable property management company is also a good idea. If you’re using a rogue agent, your best bet is to make sure that they’re licensed, bonded, and insured.
Avoid hidden charges
Using a letting agent can be costly, especially if you are moving from one location to another. In addition, you might have to pay renewal fees and other hidden charges. You can avoid some of these fees by taking photos of your new place when moving in, as well as videos of the property when moving out. The Advertising Standards Agency has also criticized letting agents for charging unclear fees.
In addition to charges for the lease, you might be liable for cleaning fees and inventory charges. You should also ensure your tenancy deposit is registered with a government-approved scheme.
Rose Woofter writes about sustainable luxury and the growing trend of eco-friendly, yet lavish, travel experiences, with a focus on heritage railway carriages.
