25th April 2022
Changing Letting Agents – When and How to do it!
If you’re not happy with the service you are receiving from your letting agent, you’re paying too much and you’re not satisfied that your property is being looked after, it might be time to change letting agents.
Your property is an important asset, and it needs to be looked after by a professional lettings agent who can help you secure the right rental income from the right tenants, and ensure your property is properly maintained.
Here’s when and how to change letting agents if you’re not happy:
Common reasons to find another letting agent
One of the most common reasons for landlords changing letting agents is they receive a poor service. Poor communication and being unresponsive to both landlords and their tenants are among the top reasons why people choose to change letting agents.
High management fees
Some landlords are paying over the odds to have their property managed and are even receiving a poor service at the same time.
Finding unsuitable tenants
Some letting agents aren’t doing thorough checks on tenants to see whether they would be good and reliable for your tenancy. Whilst there’s no guarantee that your tenants will look after your property, there are definitely eligibility checks and questions you can ask that help decide whether they’re a good fit.
No property inspections
A good letting agent will carry out regular property inspections on your behalf to make sure that your tenants are looking after your property and identify any minor repairs that need doing. Keeping your property in good condition will ensure you can attract a good rental income and avoid problems escalating.
How to change letting agents
Look at the Terms and Conditions you signed at the start of your contract to find out what notice period you need to serve. Some agents tie landlords in while the tenant they have found remains in the property, but if there is no tie-in you can give notice in writing and arrange for a final inspection and keys to be handed over.
We can help you draft a letter to your existing agents to serve notice and review your existing contract to help you get out of the contract with minimum hassle.
Inform your tenants and arrange for them to meet the new letting agent so they have a single point of contact.
Will it cost me to change letting agents?
It really depends on your current agent and the clauses in your contract. You may be required to pay a tenant finding fee for example. However, if you are receiving a poor service, you should be prepared to negotiate and ask them to waive any exit fees.
Changing letting agents doesn’t have to be hard work or stressful, but we’re here to make the process as seamless and straightforward as possible.
Contact our lettings team today to start the process >> https://www.matthewsofchester.com/lettings/lettings-team/