Online letting agent checklist
Online letting agents offer a great way for landlords to save on their rental costs. The low fees & flexible packages are helping online letting agents grow their market share in the rental market.
While there are similarities between online & traditional agents, there are some additional steps landlords should be aware of.
Below is a checklist for landlords to follow, to ensure the process of getting an online letting agent is as smooth as possible.
To get the benefits of an online agent (the low costs!), you may need to do some of the work yourself. This includes activities such as conducting viewings and collecting rent. Make sure before getting an online agent you have the time.
Use Rentround to compare fees of both traditional and online letting agents. The search is free and will help you reduce your letting agent costs
Determine what services you want, starting from just tenant find services to full management.
Check that the online agent offers all the services you need now, and potentially in the future. Some online agents don't offer as much as others (i.e. inventories, repairs, guaranteed rent etc).
Make sure you and your chosen online agent agree on the expected rent. Do your research beforehand, checking rent on other properties in your area. An online agent may not have the local knowledge a high street agent has, so you should spend extra time on your own due diligence.
sign the deal
sign the deal
Sign up with an online letting agent. Be sure to check the terms & condition, as well as any hidden fees. Our guide on letting agent fees helps on what to look out for.
One of the main advantages with an online letting agent is the cheap access to post your property on the major property portals. Check on the portal that your advert is in good shape and there are no mistakes. This is even more important if you've paid a fee to the online agent that isn't dependent on your property being filled.
If you've gone for a basic package with your online letting agent, you'll need to handle enquiries & organise viewings. Make sure you brush up on your showcasing skills. You'll need to be able to draw out the positives & answer questions on the negatives when showing tenants your property.
Pick your tenant
PICK YOUR TENANT
Hopefully you've had enough people bidding to move into your property. Pick a tenant with a good reference history and who's a good fit for your property. This is even more important when your property is a HMO with existing tenants - the last thing you want is to be dealing with internal bickering!
Enjoy your savings
enjoy your savings
Enjoy the savings you've made and treat yourself to something nice, knowing you've secured the best letting agent!