New year resolution – new letting agent?
As the new year begins should you make a new year resolution to check your letting agent is being efficient? Although Covid hasn’t completely closed letting agents doors, it has had a profound effect that could lead to cutting corners. Many agents haven’t weathered this level of storm before especially if they missed the 2007 crash (lucky them). So, perhaps now is the time to ensure your property manager is up to scratch. Here are some key things you should be looking out for…
Check-in on your investment
In the world of work deadlines and family commitments, it’s easy to forget an investment that’s out of sight. And, if you signed up with a letting agent the chances are you’ve moved your property into the mental ‘completed’ work pile. However, it’s good practice to check in on your investment especially if you have a portfolio of properties. The good news is there are some very easy criteria for deciding if they have been doing a good job. Here are some questions to ask yourself:
- When did my letting agent last offer a rent review?
- Has my investment seen a rental increase?
- Am I getting excessive repair bills?
- Does my letting agent offer the right services for my needs?
- Is there a lack of repairs or inspections?
- Am I satisfied with my current letting agent?
Can I legally change Letting Agents?
When you enter into a relationship with a letting agent, you will sign a contract outlining the details of the contract. Whilst these contracts are designed to continue on a rolling basis, there are clauses that can allow changes. There is usually a termination clause that should give you details of how to terminate the contract and the notice. The clause is similar in principle to a break clause in a tenancy agreement. However, it’s best to pick up the phone and speak to your agent as most issues can easily be resolved.
If you’re looking at making a new year resolution, then take a look at your current agent and see if you’re happy with the service they are providing. If you are in the Norwich area and would like an informal chat with a highly rated agent, then contact us today.