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Rogue Letting Agents

Don't be caught out

The Office of Fair Trading has warned landlords and tenants about the dangers of rogue letting agents.

Commenting 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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