When you buy or rent a property you need help from an agent, unless you are an expert of buying or renting properties. A real estate agent will help you get your dream property. But before you purchase the property, you need to make sure that the property is worth it. Before you make a deal with the agent, you need to ensure that all the aspects of the property are accurate. You want to inspect the property. Of course, the real estate agent will take you to the property so that you can inspect it, but you are not an expert. It is where these letting agents come in. A letting agent is more like an inspecting agent. He will show you each and every aspect of the property you are buying and will tell you if it is worth it or not. The real estate agents let you choose the best property, and the involvement of a letting agent can improve it.
What does a letting agent do?
What is the purpose of a letting agent? In simple words, the letting agents are businesses that deal with the rental properties. If you wish to rent a property somewhere new and are worried if it is the right choice or not, you will hire a letting agent to tell you if it is the right property to rent. The letting agents also manage the landlord’s properties. When you purchase a home,you may want to contact a letting agent first rather than the owner. A letting agent also helps you buy a bargain home. In fact, these agents are experts of bargain homes as compared to other types of property sales and purchases.
Benefits of hiring letting agents
The benefits of hiring a letting agent are galore.
- They will save your time to search for the rental property.
- They will tell you all aspects of the neighborhood
- The agents act as an intermediary between you and the landlord
- He will help you search the best property for rent
- He will make sure that you pay the right price for the property
Services offered by letting agents
These agents offer an Introductory Service. It means that they help find the landlord a tenant.
They provide administration services. They provide services to administer the whole process. They will process the application referencing (which includes credit and debit searches, etc.); they will draw a tenancy agreement, draw a schedule of property condition, conducting a proper property check-in, etc. you must understand that a few of these services are non-refundable. Administration services such as drawing a tenancy agreement have no refunds. Similarly, the fee paid t the court is non-refundable.
They offer rent collection services. Many letting agents also provide extra services, such as the collection of rent from the tenants. They charge a commission for this service.
They also provide full management services. They help manage the landlord’s property on the daily basis. This service is also extra and will cost 12% of the final deal.
Fee for different services offered by letting agents
The fee for the tenants includes:
- Inventory: as mentioned above the letting agent makes drawings and prepares documents; this fee is for drawing inventory and inspecting the property
- Renewal: the letting agent will charge the renewal fee if the renter extends the tenancy period beyond the initial term. This fee is lower than the original cost.
- Administration: This is the fee which covers the administration services mentioned above.
The role of letting agents
- He shows you the property
- He makes a list of the total cost of the property based on the condition of the property and appliances in it.
- He prepares a tenancy agreement for you and your landlord.
- He provides you the contact details of the landlord
The letting agents are not mere the real estate agents; they act as a helper.
The above is a description of the letting agents and everything there is to know about them. Make sure that whenever you search for a property or rent or a bargain home, you hire a letting agent. These letting agents Chalfont St. Giles will make sure that you get the property which is perfect for your family.