What to look for in a letting agent

lyndasharp

My OH has a flat which has been empty since he moved in with me 6 months ago. It's now redecorated, looks smart, but no sign of a sale and can't afford to drop the price any lower due to the risk of negative equity. We're thinking that our other option would be to look into renting it out, to at least cover some of the mortgage. I know that seeing the bank for consent to let is a good place to start, but just wondering about the logistics of getting in an agency to rent it out. We don't live that close by (1 hour drive) so looking after it ourselves isn't an option.

What sort of service would we expect from a letting agency? What sort of fees would there be for full management? Will it need any electrical safety checks or anything else to comply with legislations? It's not on gas.

Jowo_2

Stick with an agent that belongs to a professional body. For various reasons, they are least likely to get in tenants without checking them or abscond with the rent and deposits.

http://www.landlordzone.co.uk/agents.htm

Be realistic - tenants may be seeking a long term let and will be displeased if their stay is only as long as the market for sales will pick up. It's very disruptive to tenants to only have a 6 month let and be expected to permit dozens of viewings - it's their home when the tenancy begins.

You will need one of those EPCs (energy certs), permission from your insurers as well as the mortgage company, comply with the tenancy deposit scheme. Electrical safety check is not compulsory but might be an idea to get the circuits and appliances checked anyway. Smoke detectors fitted.