How to choose the best letting agent to handle your rental property investments

Many Landlords own more than one rental property. As a sound long-term investment, it makes sense to make the most of the monthly rental income that will far outweigh any interest paid by the bank on savings and the potential capital growth of the property value over time. 

But renting out properties is time-consuming, and nothing is worse than being away on a relaxing holiday only to get a phone call from your tenants to report that they have no hot water. This is an urgent issue you must deal with immediately, which is made all the more complicated when you are on a beach, not to mention the inconvenience of interrupting your vacation time. 

If you've invested some of your cash into property, you might now wonder why no one told you that so much work was involved. The return is good, but managing a property adds stress and work to your already busy schedule. 

This is where letting agents come in. 

A fully managed service means that whilst you are kept informed of what is happening with your property portfolio, you are not required to do anything about it. When the boiler breaks down, the letting agents will source a contractor and arrange the repair for you. They will even process the invoice, simply sending you a copy for your records.

Sounds great, doesn't it? Much easier than trying to keep on top of paperwork, legislation, rent collection and maintenance yourself. 

Instructing an agent to handle your property investments is an excellent idea, particularly if you don't live close to your rental properties. If you live far away, it may be trickier for you to visit and keep an eye on the property. A local letting agent will be on hand to monitor the property and will know all the contractors so they can easily choose the good ones to work with when dealing with the maintenance of your investment. 

So what do you need to look for in a letting agent? How do you know who to entrust with your investment? 

Experience - Of course, you want to know that your letting agent is experienced in handling rental properties and tenants, but more importantly, are they experienced in managing properties like yours? If you have a high-end investment property, you wouldn't want to put this in the hands of an agent that deals with the lower end of the market and vice versa. Perhaps your property is a large townhouse, don't select an agent that only deals with flats.

Credentials - Years in the business don't necessarily guarantee that they are following the laws correctly. Qualifications are an easy way to check that the agent is aware of all of the legislation involved in property management, meaning that you can feel confident that you are covered. After all, as the landlord, you will become vicariously liable for any legal breaches from the agent.

Database - Much of the challenge of property rentals is sourcing a fabulous tenant from the outset. Most of the issues that crop up in property management can be rectified quickly, but if you have selected the wrong tenant at the start, you could make the whole process more complicated than it needs to be. Make sure that you choose an agent with access to a countrywide database of high-quality potential tenants and that they can pinpoint the exact tenant for your property so that you are not without rental income whilst the property is sat empty. 

By Design agents deal with the very best clients and the very best properties around the UK. With years of experience working with high-end properties and expertly managing high net-worth landlords, and tenants, you can be sure that you are in safe hands with a By Design letting agent. 

Our innovative technology allows us to find the best tenants from around the UK, finding that needle in the haystack that will allow you to rest easy and relax on your holiday without worrying about your tenants.