This week we’re celebrating the official launch of Yellow Lettings! So what better time, we thought, to do a whole episode about getting the best from your letting agent.
We’ve said before that a good agent can make your property investing life a doddle, and a bad one can land you in all manner of trouble. So how can you make sure you have the former experience and not the latter?
With some help from ex-agent and current RMP Property employee Dale Hornidge, we rounded up all manner of tips:
- Meet your agent face-to-face. It builds rapport and puts a face to the name, as well as making you less easy to ignore!
- Connect with your agent online. Adding him or her on LinkedIn (or even Facebook or Twitter) will make the relationship a little more personal, and subconsciously remind them about you and your property. (Speaking of which, add @robbence and @robdix on Twitter now!)
- Call regularly, but not too regularly. Agents are busy and won’t always be free for a chat, but there’s no harm in calling every so often to build rapport and make sure everything’s in order
- Check they’re investors too. Not everyone in the company will be a property investor, but if at least the owner is they’ll understand your particular needs and might be able to offer useful advice.
- Be knowledgeable. Even if you only visit your property once every couple of years and take photos, you’ll have a good idea of the condition of items within – so the agent is less likely to get away with exaggerating issues and replacing things that really aren’t needed.
- Review your own rent. A good agent should review the rent annually, but some get lazy – just pop onto Rightmove once a year and see how yours compares to the competition.
- Be prepared to spend money when required. Questioning costs is fine, but there’s nothing more damaging to a landlord-agent relationship than refusing to spend money when it really needs to be – it puts the agent in a tough spot, you’re less likely to keep your tenants.
- Be vocal. If you can’t get a response from your agent, it’s amazing how quickly they’ll leap into action when you get vocal on Twitter!
- Be nice! It’s human nature that your agent will give a little bit more time and dedication to properties owned by landlords who are pleasant to deal with. Listen to our episode with Peter Shankman for more about this
- Move on. If you’ve done everything you reasonably can and it’s not working out, switch agents – there are always choices. And while you shouldn’t threaten to leave at every minor hiccup, just saying that you want to leave might focus their mind on solving your problem.
For more detail on all of these points, listen to the episode in full!
Resource of the week
This one is only relevant to people who have a website (sorry to everyone else – normal service will be resumed next week), but it’s a corker. Quill from Narrative Science is a tool that you connect to your Google Analytics account, and every month it will email you a plain English report of how your site is getting on. There’s no need to dredge through piles of charts and data: it analyses the data for you automatically and pulls out all the key points you need to know.
It’s so easy, there’s now no excuse not to have your finger on the pulse.
News this week
We are our own news story this week, because today is the official launch of Yellow Lettings!
It’s been months and months in the making, but we’re now ready to take on your properties. To find out more about exactly what we’re offering, and to request a call so we can talk about working together, just visit the all-new Yellow Lettings website.
This week’s mentions
Have you booked your tickets for our summer meetup yet? No? What’s wrong with you!
It’s happening in London’s King’s Cross on 27 August, and it’s going to be amazing, obviously. Just visit thepropertyhub.net/meetup to grab your free tickets!
Join the conversation!
Do you have any tips of your own for improving the landlord/agent relationship?
We’d love to know, so join the discussion in The Property Hub!
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