Avoid These Common Mistakes When Hiring an Edinburgh Letting Agent

If you’re looking to invest in the booming property market of Edinburgh, you may have decided to hire a letting agent for your rental properties. Although this can be a wise decision, there are several pitfalls that most landlords make when hiring letting agents in Edinburgh. This blog post will discuss these mistakes and how to avoid them in order to ensure a successful partnership with your Edinburgh letting agent.

Mistake #1: Choosing the Cheapest Option

When it comes to hiring an Edinburgh letting agent, it can be tempting to go for the cheapest one available. Yet, low priced services usually mean low quality services. A lower fee usually means corners being cut by letting agents; hence providing substandard services which might eventually cost you more than what was initially expected. It is vital therefore, to always do thorough homework on potential letting agents considering their experience, reputation as well as various services they offer rather than focusing only on costs charged by them. Remember that investing slightly more at the beginning stage saves you from huge troubles in future.

Mistake #2: Not Checking Credentials

One must not hire any professional service provider without first verifying their credentials properly and fully. This applies even for letting agents too. Ascertain if they are registered with appropriate governing bodies such as The Council of Letting Agents (CLA) or others like The Property Ombudsman (TPO). If possible, request them to provide their previous clients as references and then check online reviews or testimonials done by other landlords who had worked with them earlier on before fixing any deal with them. This way all certificates will be genuine and binding.

Mistake #3: Not Clarifying Terms and Conditions

Many landlords fail to read or clarify the terms and conditions provided by their chosen Edinburgh-based lettings agency thoroughly. Such misunderstandings usually occur later leading to either conflict or disagreement among both parties involved. Therefore, always enquire about anything unclear before signing any contract or agreement with a selected lettings agency. Clear terms and conditions are useful when it comes to setting up correct expectations and preventing future disagreements.

Mistake #4: Not Discussing Communication Expectations

Whenever you are working with a letting agent, communication is key. Failure to discuss how often you wish to be updated or what mode of communication suits you best can lead to miscommunication as well as frustrations. It is therefore important that you discuss your expectations about communication channels with your letting agent so as to agree on the most effective one for both parties. Effectiveness in this case implies that the problems are fixed and that you’re always in the loop. 

Mistake #5: Choosing an Agent Solely Based on Location

A greater number of landlords make a mistake by settling for an Edinburgh letting agent  simply because its offices are located nearby. While having an individual close by seems convenient, you should not use this factor alone to determine who manages your property. Thus, instead of just choosing based on location, other considerations like experience, services offered, reputation as well as costs must also come into play whenever selecting an agent. A proper evaluation will enable one to find the best match in terms of his needs.

Mistake #6: Not Discussing Maintenance Procedures

As a landlord, you are responsible for maintaining your rental property. However; some letting agents include maintenance in their packages. Thus, it is important to know this before anything goes wrong that will require repair or even regular cleaning services. Moreover, there should be guidelines for emergencies. Therefore, having a good maintenance program helps in preventing minor issues from becoming worse.

Conclusion

For prospective landlords intending to invest in Edinburgh’s property market, hiring an Edinburgh letting agent has many advantages. Nevertheless, Prior to picking an agent who would assist in managing properties, you ought to consider issues such as experience levels and qualifications as well as what it entails communicating with the agency and its staff and how property management can be carried out including decision-making on simple topics like repairs and renovations. This way you can also avoid any problems by checking for referrals while reviewing their marketing brochures. By following these steps, one can build a strong working relationship with Edinburgh letting agents which will eventually yield positive results for both parties involved.