It’s not always as ‘Easy’ as it appears
I read a review of a well known brand’s online letting agency offering the other day and it made me laugh.
The reviewer has split the service being offered down into its’ constituent parts and looked at each part individually including comparing the costs. I won’t go into all the details but some points really stood out:
- “I have never met a tenant yet who knows how to read a floor plan, or would care about one. In my experience, most buyers don’t understand them either.”
- I couldn’t disagree more with this comment, most viewers love to see a floorplan and properties with them get 30%+ more views online
- Inventory – Quite expensive, the main cost is the time for the agent to do this on your behalf. Usually less than an hours job.
- I would counter the cost of not completing a thorough inventory would more than outweigh the cost of having a professional do one and most will take longer than an hour even with experience
- An agent won’t care if your prospective tenant looks like a dirty, unkempt mess, they will only care about the money they earn for an hours work.
- What a ridiculous comment! Agents who value their reputation will only put forward suitable tenants to their landlords even if they are not going to be managing them.
- Letting boards are a bit pointless to a private landlord.
- Why would you not want prospective tenants to know your property is available to let?
The most telling part of the review was this:
“It would probably be cheaper and better managed to employ an regular agent.”
There will always be people who prefer to do everything themselves but thankfully most landlords realise that employing a professional to do the job will save them time and hassle.
Invariably a good agent will save a landlord money by getting a higher rent, ensuring compliance with all necessary legislation and by not putting in the wrong tenant in the first place.