For landlords and investors looking to manage their properties through a lettings agent it is imp...
For landlords and investors looking to manage their properties through a lettings agent it is important to choose one that provides the most targeted and relevant service for individual specific needs.
There are over 10,000 residential lettings companies in the UK - ranging from the larger corporate groups comprising hundreds of agencies, through to smaller independents operating from a single office. Along with size goes regional variation. In reality, the UK’s ‘national’ residential lettings industry is a composite collection of hundreds of separate, local and regional markets.
Within each of these exists the broadest range of property types, from city flats, student lets (very often, but not exclusively ‘houses in multiple occupation’) through to new-build apartment blocks, town and urban detached, semi-detached or terraced homes, through to country dwellings and older period properties. Furthermore, the 10 million UK tenants who call these properties ‘home’ range across every conceivable demographic sector in terms of age, employment, social, marital and financial status.
Our letting specialist Francesca Beech at Belvoir Sheffield Belvoir says: “In such a broad and diverse sector it goes without saying that not all lettings agents are the same.
“Most will offer the core, buy-to-let services of ‘letting only’, ‘letting and rent collection’, or lettings backed by full on-going management, but in addition many will have specialisms particular to their own local or regional area.
“For example, a growing source of demand comes from ‘accidental’ or ‘reluctant’ landlords – people who inherit property and choose to rent it out prior to sale – or home owners who suddenly need to work abroad or out of commuting distance, forcing them to rent out to cover costs.
“No matter what the local offering may be, the critical considerations when using a lettings agent, either as a landlord or tenant, are the levels of care and professionalism that will be provided.”