Don't be caught out
The Office of Fair Trading has warned landlords and tenants
about the dangers of rogue letting agents.
on the report suggests that the Government is looking at ways
of regulating the market to drive up standards.
Landlords need tenants, and tenants need property
that is suitable for their needs. Taking a short cut by appointing
someone to act to secure a suitable tenant may save a lot of hastle
but it is apparent that there are dangers by using the services of
a letting agent.
Landlords should ensure that the agent knows
exactly the sort of tenant that they require (an incorrect
selection could void a landlord insurance policy. They should also
obtain a full schedule of fees that they will incur (A practice
alreasy in the insurance industry).
Landlords starting out on their letting career
should also endeavour to check up on letting agents before they
select one. Methods could be: discussing their needs with more
experience landlord friends and by asking letting agents for
details of satisfied previous customers.
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