Special Agent

How to Find a Good Letting Agent in Nottingham

Because of its relatively low cost of living and high-quality of life, Nottingham has a busy property market. In this environment letting agents have mushroomed over the last few decades. Most are competent and can help you, but not all of them will be able to find the best deal for your situation. To maximize your profit, and to avoid frustration, work only with a good letting agent.

•    First, decide why exactly you need a letting agent in Nottingham. Each agent offers services with a different coverage, so you should make up your mind early on whether you want the agent only to find you suitable tenants or to manage the entire rental agreement. If you’re a seasoned landlord then you don’t need the letting agent to oversee the rental agreement. But if you haven’t dealt with tenants before it may be wiser to let the agent do it for you, even if this means you have to pay them more.

•    Second, identify a professional letting agent that has the expertise and resources necessary to market your property successfully. All letting agents that are members of ARLA, NAEA, or RICS follow a strict code of practice, and have the competence to help you. When choosing letting agents, recommendations from your friends are valuable and should be considered.

•    Third, consider whether to choose an agent specialized in lettings or one attached to an estate agency. A specialized agent may be cheaper and more effective, but only if they are established and have a wide network of connections.

•    Four, work with multiple agents who are known for charging no fee until they let the property. By doing this you have more chances of finding the ideal tenant and maximize your profit. Note however, that agents who charge fees simply for marketing you can be sometimes a better alternative if ‘no fee agents’ can’t bring you tenants after a few months.

•    Five, be specific about what sort of tenant you want. Say for example, that you prefer a middle-aged professional with a stable job. Also specify whether you want a long-term or short-term tenant. If you’re letting apartments, you may want to target young tenants, since there are well-over 60,000 students at the local university in Nottingham, many of whom come from outside the city.

•    Six, choose an agent that demands a reasonable fee. For basic letting services expect to pay at least 10% of the rental value. This expense covers the marketing costs and the preparation of the necessary documents. In Nottingham fees for letting services vary, but in general they are reasonable.

In conclusion, when looking for a good letting agent in Nottingham make sure that they are accredited, knowledgeable about the local property market, and reasonably priced.

About the Author

Priest Properties are one of the top letting agencies nottingham offering Property Management Nottingham for landlords.

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