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How do you choose a letting agent? Most landlords decide on fee percentage and a gut feeling about the person who turned up to the valuation. Both are the wrong place to start.
In this episode Simon Bacon and Ian Sadler work through the 20 questions every landlord should ask before handing over their property: what a letting agent actually does day to day, the real difference between let-only and fully managed, why the quickest tenant is rarely the right tenant, what a proper referencing process includes, how to judge fees against value, and the one warning sign that should end a conversation with an agent early.
Simon runs a lettings agency, so he has an obvious interest in this topic and says so on air. The answers are given straight anyway, including an honest take on whether agency fees are worth paying and why letting agent reviews are often read the wrong way round.
Simon Bacon is the owner of Preferential Properties, a lettings and sales agency serving Sutton Coldfield and North Birmingham with over 30 years in property management..
0:00 Cold open
0:24 Welcome
0:59 What does a letting agent actually do?
2:04 Let-only versus fully managed
3:13 How important is local market knowledge?
3:46 Why accurate pricing matters
4:17 How to tell if an agent understands tenant demand
5:09 How important is communication?
5:37 What to expect from a good agent when problems arise
6:42 Why compliance knowledge matters
7:11 Can compliance mistakes really be that serious?
8:06 Is finding a tenant quickly the most important thing?
8:53 What a good referencing process includes
9:55 How maintenance issues should be handled
11:52 Why systems and processes matter
12:31 Should I choose the cheapest agent?
14:29 How important are reviews and reputation?
16:12 What to ask about property inspections
16:33 How rent arrears should be dealt with
17:02 How do I know if I’m getting value for money?
17:26 The biggest warning sign when choosing an agent
18:06 The most important quality in a letting agent
18:49 The 5 things every landlord needs to know