A letting agent’s main focus of work is to ensure that the properties of their landlord clients are well managed. This could include a wide range of services, from finding tenants, to collecting rent and managing the tenancy aspects.
However, many people still have some misconceptions as to what a letting agent is and isn’t responsible for. Landlords need to get into the details of this question since they are the ones who most commonly work with a letting agent, or find themselves in a dispute with one. In this guide, we will explain much of the details surrounding the work of a letting agent and what they are responsible for.
To start, what a letting is not responsible for
Knowing what a letting won’t do for their client – the landlord – is equally important as knowing what they will do.
Kinds of letting agents and their services
Many people believe letting agents are all the same, but that is not true. Every agent tailors their service differently. One agent may provide a fully managed service + property inventory, while the next will do just the fully managed service, without an inventory.
Online letting agent service
Many landlords opt not for the traditional high-street letting agent, but the online letting agents. It is cheaper, but the service also creates a little bit of confusion as to what the responsibilities of the letting agent are. The main difference is that they operate through phone and email.
Responsibilities all agents share
Regardless if they are an online agent or a high-street one, all letting agents share some responsibilities.
Tenant find service
Another major aspect of a letting agent’s responsibilities is the tenant-find service. There are some differences between the way it works for a high-street agent and an online agent.