Understanding letting agents and the rental market

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Why do most letting agents not provide a floor plan?

The simple answer is cost and time. The rental market is often fast moving and new tenants can be secured within days of the property becoming available. Also there is the cost of producing a floor plan, the cost would need to be covered by the initial fees and charges made to a landlord and/or tenant.

For most people searching for a rental home it is frustrating not to have a floor plan to refer to, you can always check to see if a similar property is available for sale or alternatively ask the letting agent to see if the landlord has kept anything on file from their initial purchase.

How many letting agents can market the same apartment?

As many as a landlord or landlady wish to appoint, unfortunately in the UK landlords do not have to pay any up-front fee to a letting Agent, therefore landlords can appoint multiple letting agents, this is both frustrating for the letting agent as well as the prospective tenant.

Landlords and landladies – Do they make good managing agents?

Many landlords and landladies believe that by managing their property themselves they can save money as they do not have to pay a letting agent or managing agent a monthly percentage of the rent.

Unfortunately most landlords & landladies do not fully appreciate what is involved and what their full responsibilities are to their tenant. As and when anything goes wrong and needs to be repaired or replaced it is not a tenants' responsibility to co-ordinate estimates or quotes and the tenant should not have to be at the property to oversee any work or replacement of any appliances.

There are also the legal obligations such your landlord must put your deposit in a government-backed tenancy deposit scheme sometimes referred to as (TDP) if you rent your home on an assured shorthold tenancy. There is also a legal requirement to have an annual gas safety certificate at every property where there is gas, also a working smoke detector as well as taking up references on tenants, rent collection and property inspections to take into consideration.

For further information about how we can assist you in finding, acquiring or renting your new home please contact us by calling 01962 793100 or email enquiries@premier-propertysearch.co.uk.