A letting agent is a term used for an estate agent who deals with lettings of properties. They perform the role of valuing properties in the rental market and searching for tenants on behalf of the property owners. However, their functions are not limited to these only. Let us elaborate more on the title “Letting agents – what they do”.
Letting agents deal with a wide variety of properties. These properties range from houses, hotels and flats, leisure facilities, stores, offices and even hotels. Generally, their routine activities cover vetting prospective tenants through both credit verification and references. They also make certain that the property is safe and secure from all aspects and it has the gas and electricity safety certificates. Moreover, they also bear the responsibility of collecting the rental amount on a monthly. They prepare the tenancy contracts as well. Letting agents also handle the property maintenance and refurbishment affairs.
Letting agents perform their routine activities both in their offices and in the field facilitating clients viewing rental properties. They work 39 hours in a week; however, some letting agents devote more time to the work. Their work hours are usually unsocial, means they work during the night or in the early morning when most people do not have to work. Often, letting agents are seen traveling all day long, so most of them own a clean driving license.
Letting agents who work with agencies having multiple branches have greater opportunities to be promoted to higher positions after obtaining experience in both selling and letting. The promotion may be in form of transfer to a different company or a different branch. Some letting agents become mangers at small agencies. However, after this type of promotion, they have fewer opportunities for further promotion. Some letting agents who have a large book of contracts commence their own business.
As well as a basic salary commensurate with experience a letting agent can earn bonuses and commission as well, this depends on how well they do their job so check out how well they dress! A letting agent’s potential earnings are also based on the area where they are located in the United Kingdom. Their company may provide them some extra benefits in the form of company car or a car allowance.
Lettings agents are a great help if you are going through difficulties in letting your property. You may hire them to rid yourself from all the hassles involved in the letting procedure. Also if you are looking to find a property to rent, check online and find the local letting agents in your area. They are almost guaranteed to be able to help.