You want to find the best letting agent to manage your property. But should you aim for a local agent, a nationwide outfit or something else entirely?
You want to find the best letting agent to manage your property. But should you aim for a local agent, a nationwide outfit or something else entirely?.
You have a property to let in Peterborough. It goes without saying that you want to generate a steady, hassle-free income from your investment. But you also want your property to be well cared for. What you need is a reliable letting agent. A business you can count on to manage the property efficiently, maximise your income and keep you up to speed about your property.
But which is going to be best letting agent for your property, your lifestyle and customer service expectations? You have the option of local independent letting agents or large national players. But who do you pick?
What size letting agent is best? A large national brand or a small independent?
Small agents are able to offer a more personal service. One specific employee from the agent will be allocated to manage your property, giving you a familiar point of contact. Often this point of contact may be the business owner, which can bolster your confidence as a landlord. But there’s no doubt that, regardless of who you deal with, you can expect to receive more attention with a small agent than you would get with a national brand. It’s economics: national brands have thousands of properties on their books, local agents deal in the hundreds.
Smaller agencies are experts in their local markets and will know the region well. But how long will the highly personal level of service last? After all, a smaller agency’s primary goal is to grow the number of properties on their books. In doing so they are susceptible to overstretching their resources. Landlords can suddenly discover that they (and their properties) are no longer getting the personal service they deserve. Even as new staff are brought in, small agencies often lack the robust systems required to ensure that service levels remain high - and what happens if your contact is off sick or on holiday?
Another downside is that a letting agent that advertises fewer properties will attract fewer prospective tenants. The more options an agent has on the market, the more tenants they will have on their books when you decide it’s time to let your property.
What about larger, national brand letting agents? They will have lots of resources and well-developed systems for managing your property - and by dint of being well known in the market, they will have more properties on their books and will attract a higher number of prospective tenants. They will also have enough staff to cover any illnesses or holidays.
Unfortunately that all comes at the cost of the personal service you get with smaller agencies. Your telephone calls may be routed through a national call centre - and there will usually be a number of different people managing your property. Maintenance issues and accounts (the handling of rent collection) are typically centralised at a national processing centre.
Another thing to consider is that staff turnover at large agencies is often high. Short tenure leads to a lack of investment in staff training and a lack of commitment and loyalty to landlords. That results in agents who are less informed about the nuances of your property and less engaged with the holistic view of your property investment or portfolio.
What if you could have the best of both worlds?
Is it possible to have the competitive advantage of large numbers of applicants, strong resources and cohesive systems as well as the benefits of personalised service? It is with Belvoir Peterborough!
All Belvoir offices are locally-owned independent businesses. As the largest Belvoir operator in the UK, Belvoir Peterborough has excellent resources and a high number of properties on our books. It means you can benefit from access to huge numbers of tenants, in-depth resources and proven systems for managing your property profitably.
We have excellent training programmes and some of the most highly qualified team members in the region. You can be sure that our advice is rooted in the latest market knowledge, regulatory compliance and best practice.
What about the personal touch? With Belvoir Peterborough every landlord is assigned a dedicated property manager. You can call them directly - a single point of contact - with the express knowledge that you will be talking to someone who knows you, knows your property and knows your account. Simple. Your property manager will never have more than 200 properties under their personal charge. So you will always get the highest level of personal service and attention - as will your property.
As for maintenance and rent collection? It’s all dealt with internally. So you can be confident that it will be handled efficiently and punctually - time after time. Nothing gets lost in the system.
We take responsibility. When you let with us we take personal accountability for your property and your rental income. We’re not interested in winning quick business. The desire to build long, sustainable and mutually beneficial client relationships is part of our DNA.
Ready to get started?
If you have property to let in Peterborough, please get in touch to find out more about what makes Belvoir different.
This blog is written by Luke, Luke Clarke is Belvoir Peterborough’s Lettings Manager. Luke has over 12 years of property experience and has built up unrivalled expertise in the lettings industry and remains a tried and tested advisor for landlords who not only intrust Luke with the complexities of day to day property management but also to assist them with the ongoing development of their property portfolio.