Things to Know About Letting Agents

We can all agree that letting agents can offer a wide array of services depending on how much you wish to be involved with the property’s management. At the same time, the regulations state that they must display service level fees on their official websites and branches, meaning you can compare the costs of different agencies and choose the one that meets your needs.

Although each agency comes with specific factors, we can differentiate standard services you can expect by choosing a specific option available on the market. You can find different letting agents in Birmingham that will offer you peace of mind.

A letting agent is the person who carries out the work of a landlord with the idea to let out a property to a specific tenant. As a result, a letting agent may manage the property, meaning inspecting the house, making repair arrangements, maintenance and improvement of the insurance, as well as collecting the rent.

Besides, a letting agent can draw up the lease and help you get the right place to live, especially if you approach them as a potential tenant. In this article, we wish to talk about different things you should know about letting agents before choosing the right one for your needs and requirements. Let us start from the beginning.

Find a Home with the Assistance of a Letting Agent

A letting agency can help you find the relevant accommodation specifically owned by a private landlord, which will help you throughout the process. The main idea is to register with a specific agency, which will include the idea that they will ask you about the type of property you wish to rent as well as the rent you are willing to pay in a certain area.

Of course, you must give details about your income and job, while it is important to provide references from a bank, employer, and current landlord. In some situations, a letting agency may refuse to help you find the desired accommodation because you are getting Universal Credit or Housing Benefit, which may be unlawful discrimination you should have in mind.

It is against the law for a letting agency or accommodation to ask for payment for:

• Providing a list of properties that you can rent based on query and status
• Putting your name on the list and taking the details
• Running a credit check
• Checking your references
• Any expenses related to finding specific accommodation, renewing a tenancy, or setting everything up

Another important consideration is that landlords, especially householders in England who let private rented accommodation, must deal with immigration checks beforehand. It means that they will check whether you have a right to live in the UK before renting you a property.

You should click here to learn more about letting agents. There are no requirements on private tenants and landlords to make such checks.

Things to Do If They Offer You Accommodation

Suppose they decide to offer you specific accommodation by either letting agency or other means. In that case, you should inspect everything thoroughly before accepting it, which will help you ensure you get the right deal. It is important to consider the following things that will determine whether you can handle each step along the way or not:

• The most important factor is checking the terms of the tenancy agreement, because it will state every tiny detail you must remember.
• Besides, the agreement should include the amount you must pay each month and whether it consists of additional services, water, and fuel charges you must handle.
• How much rent you must pay in advance to get the desired accommodation
• You should check out whether you must pay a premium or security deposit, which is common and works as a security against potential liabilities and damages that can happen in certain apartments or households.
• If the property has a mortgage, you can lose the accommodation if the bank decides to repossess the belonging, especially if the landlord fails to keep up with the monthly instalments. Therefore, you should ask about potential issues that you may face throughout the process.
• The name, address and personal information of a landlord
• Check out if the landlord features proper registration. No matter where in the UK you wish to live, private landlords must be registered with the local authority, which will act as a security for you as a tenant.

Letting agencies and landlords must follow the Consumer Protection from Unfair Trading Regulations 2008, which is vital to remember. The main idea is that letting agents must tell you everything they know about a specific property and things you should expect to know before the bad things occur.

At the same time, they should tell you about details you should be aware of, while the questions you ask can help them reach the desired goals.

Benefits of Renting Through a Letting Agent

We can differentiate numerous benefits of choosing a property with a reliable letting agent that will offer you peace of mind and security regarding a specific place you wish to reside by yourself or with family members.

1.    Regulations can Help You

The first and most important factor is that letting agents must undergo thorough regulation and licensing procedures, meaning they must follow the law. It means that you can easily complain about their service, and if you cannot handle a specific issue with an agent, you can redirect your issue to the scheme, meaning they will work as mediation.

2.    Protected Deposit

The moment you rent a specific property, you must pay a deposit depending on numerous factors. In most cases, it depends on your annual rent amount, but it’s between five and eight weeks of rent. Watch this video: https://www.youtube.com/watch?v=Poc5x9US_xY to learn more about this particular topic.

That deposit will be part of one of three deposit protection schemes within thirty days, meaning you will know the location and place where the deposit is. The moment you decide to rent through a letting agent, you can rest assured, because you will get a professional agency that will specifically protect your deposit and ensure you get it once you move out.

3.    Legally Binding Tenancy Agreement

The moment you decide to rent by using a letting agent, you will receive a compliant and legally binding tenancy agreement that will protect your interest as a tenant, while they will also protect the landlord.

As a result, your letting agent will have relevant systems and paperwork in place to ensure your process is properly managed and efficient throughout the process. By ensuring legal paperwork, you will have your rights regarding life, meaning the landlord must follow them before eviction and other issues that may happen.