What Does A Letting Agent In London Do? 

There’s undoubtedly a lot for landlords and property owners to consider when the time comes to let out a property. If you have gone through the process in the past with other properties, you can attest that it’s never easy- you have to do it right.

The responsibilities can be pretty overwhelming, from finding tenants, organizing your finances, completing referencing, inspecting properties, and arranging maintenance. You need to step back and let someone more qualified handle your day-to-day tasks. 

But hiring a professional is more than just a “glorified sitter” for your property. Especially if you have a property located in London because it’s essential to stay relevant on listings so you can reach more potential tenants. 

Choosing the right agent to manage your property is an important decision, but what does a letting agent in London do precisely? What do they look like?

This blog will outline what to expect of your letting agents to clear up any confusion you might have.

Letting Agent In London: Who Are They? 

Letting agents offer different service levels, so depending on what you want and how much you want them to be involved with your property’s management, there will be a specific service just for you.

Letting agents act as the intermediary between tenants and their landlords. They value a property, market it to find suitable tenants, vet qualified applicants, prepare an inventory and draw the tenancy “agreement or contract.” 

Additionally, letting agents can show you around your desired property physically when you want to. After that, any other responsibility depends on the type of services the landlord pays for.

They Act As The “Arm Rest” for the Landlord

In all honesty, the letting agent has the landlord’s best interest at heart. Because anyway, how will the letting agent get paid? So, the relationship between the two has to run smoothly. However, we are not leaving out the tenants. 

These are definitely the ones who pay the rent, and without them, there won’t be any payment coming in– the landlords won’t have any coins in their pockets, and the agents won’t be paid either. 

Ultimately, the main interest is to keep the tenants happy. It’s the symbiotic circle of “lettings” life.

The Core Responsibilities Of Letting Agents In London

Although the roles of letting agents vary, some basic standard services are outlined below. These include:

  • Sourcing for tenants
  • Tenant referencing
  • Ensuring the property is safe and meets the required regulations
  • Answering client’s questions 
  • Showing tenants around the property
  • Producing the tenancy agreement
  • Sharing the landlord’s contacts and other essential details
  • Giving you feedback about anything
  • Collecting and managing deposits as well as creating an inventory
  • Negotiating contracts and agreements
  • Arranging for repairs and maintenance
  • Collecting rent, etc.

As you can see, there are very few things that letting agents can’t do especially coming from a professional letting agency like Oasis Living. . But if some things don’t go according to plan, don’t be quick to blame the agent. Landlords are busy people, and sometimes they can be hard to track down.

What Letting Agents Are Not

Even though they are the first point of contact during the tenancy call, there are some that they won’t do, and you will have to figure out a way to sort them out yourself. 

For example, your utilities, arranging your council taxes, and everything in between is not the responsibility of a letting agent unless they partner with a complimentary home set-up service to help you with that.

You will need to organize and pay your bills– and on time!

So if you are looking for a professional letting agent in London, a great example would be Oasis Living which is an online letting agency that uses technology and automation to improve the letting process. 

Working with a team with experience and expertise in the industry can not only help you as the landlord but also ensure the tenant has a good renting experience.