The job of a letting agent is like that of an estate agent but involves the renting of a property rather than its sale. Like a sales agent, the letting agent requires certain skills such as good communication, and certain qualities such as a smart appearance, and a knowledge of the property market in general, and more particularly of properties in the local area of operation.
There has never been a better time for letting agents many would say, as the recent economic difficulties in many countries have made it more difficult to get a mortgage to buy a house, so many more people are renting instead.
The letting agent is primarily responsible to the owner of a property, or landlord, who engages him or her to find a suitable tenant at a mutually agreeable rent. The agent will also help with drawing up a tenancy agreement and managing a deposit, an inventory of contents, contingency sums, and so on. Letting agents are often keen to provide a full managed service for which they charge the landlord up to 12% of the gross rent per year. Whether this is a goods deal for the landlord is open to question, but it certainly boosts the revenue for the agent for seemingly not too much work. The degree of management is often a rather grey area, but should include dealing with tenants' day to day problems in respect of broken appliances or other repairs that might become necessary, and such like. (more...)



