Letting Agents Sheffield
Information On Letting Agents And Services.
On this page we try to answer common questions people have when looking for a letting agent to find a tenant or manage a property.
A Complete Guide To Letting Agents Services.
Everything a Landlord needs to make an informed decision when choosing a letting agent.
Information for Landlords.
Are you looking for a letting agent to find a tenant or manage your investment property?
If so then maybe you're finding the whole process of deciding which agent to use confusing!
Maybe our guide will help ...
Simply complete the form below and we'll email you the pdf booklet.
Are you a landlord looking for a letting agent in Sheffield?
Are you thinking of letting your property out? Or maybe you're a portfolio landlord looking to swap agent and receive a better service?
When looking for a letting agent in Sheffield you will need certain information to hand to make sure you make the right decision on agent selection.
Hopefully on this page you will find information and help no matter what stage of the process you are at!
what is a letting agent?
A letting agent is a professional that acts as an intermediary between landlords and tenants during the time consuming and complex process of renting Sheffield residential properties.
They will take the burden off the landlord and will be responsible for a number of tasks including;
- Legal Compliance
- Safety Certificates
- Pre-qualifying Applicants
- Property Management
- Rent Collection
- Drafting Notices
Letting agents should have a wealth of experience and be able to help out with the full management of the property.
Ongoing services for property management include maintenance, rent management, regular inspections and reports, dealing with questions from the tenants and issuing the correct legal notices when required.
The legislation for residential property management can be complex and changes regularly.
It is the letting agents responsibility to keep up to date with such legislation and make sure landlord clients are protected and compliant.
Each agent must be members of a property redress scheme such as The Property Ombudsman and adhere to specific codes of practice.
Agents must also have the correct Client Money Protection in place to safeguard clients funds and satisfy legislation.
why should landlords use a letting agent?
The lettings process is complex and subject to frequent amendments and additions to landlord and tenant law (legal requirements that landlords must adhere to).
A good professional letting agent will help keep the client landlord legally compliant.
Your time is valuable!
The process of advertising the property, screening possible tenants and then undertaking viewings is time consuming.
The travel across busy Sheffield City Centre for example, via car, can at times be frustrating, especially during rush hour!
Letting agents have access to professional advertising portals such as Rightmove and a good agent will also have an active presence on social media platforms like Facebook, Instagram and Twitter for example.
As well as having the knowledge and experience of screening tenants, an agent will have access to specialist data that will help check certain details such as credit background and right to rent status of applicants (right to rent checks are a legal requirement).
Rent collection must be done professionally with a full record of ledger entries, invoices, statements and reminders sent to tenants.
A well established letting agent will have access to experienced and trusted property maintenance contractors in Sheffield. Every contractor must be correctly insured and be able to respond quickly and professionally to agent and landlord requests.
Emergency out of hours issues do happen regularly for example electrical issues, broken locks and glazing issues. All these maintenance issues must be dealt with by a trusted team outside of office hours.
Choosing a good letting agent in Sheffield will save you time and hassle whilst offering you peace of mind knowing your property and tenants will be taken care of around the clock.
A Complete Guide To Letting Agents.
Everything you need to make an informed decision
how to choose a letting agent.
It is important to choose an agent that has a local presence and not just online. Tenant and landlords like to know the fact that they can make an appointment to chat with the agent face to face in a professional and trusted environment.
It is far too easy nowadays for companies to set up a national service and appoint local representatives that may not necessarily know the local area and properties well enough to provide a reliable and honest service.
Has the agent you are looking for been recommended to you? This can be a source of worthwhile information BUT much more importantly, does the business have good, genuine reviews online?
Look for genuine reviews left on google and social media for example. How many do they have and do these reviews actually look real!
How long has the business been trading for and what is the experience of the agent you are dealing with?
A good agent must be able to answer all your questions, fully and with detail in order for you to build the trust you need when looking for a good property manager.
A good agent will offer a few services, and depending on what your needs are, may be able to tailor a service specifically for you.
Standard services are full management and let only which should be sufficient for more that 90% of all landlords needs.
There are certain services where the agent just has an online presence with no actual local office.
These agents should be considered with caution, a good property manager must have a local presence and be specialist in their local area, not to mention have all the tools, contacts and contractors at hand.
How can you communicate with your Sheffield agent?
Do they just offer email?
It's ever more important today to be able to connect with your agent via muli-channels such as email, telephone, text, webchat, whatsapp, social media messaging etc.
Waiting for a call back nowadays just doesn't cut the mustard!
At the very least the letting agent in Sheffield must be a member of an Ombudsman, either TPOS (The Property Ombudsman Services) or PRS (Property Redress Scheme) and they also must have CMP (Client Money Protection).
The Ombudsman membership is to ensure that the agent is compliant with specific codes of conduct and also to offer peace of mind to landlord clients should a dispute arise.
Client Money Protection Schemes are designed to keep client money separate from the businesses and protect funds should the business go into insolvency.
rental valuation and appraisal
Property rental valuation is an assessment done by an experienced letting agent or qualified person that is familiar with that certain property type and location.
Valuation takes into account location, size, number of bedrooms, condition and local amenities. These factors inline with a report of other comparable properties on the market at the same time will be used to determine a reasonable asking price to advertise the property at.
An accurate valuation is important to make sure the property gets let quickly and attracts the correct type of tenant. Asking to high a price for a property could lead to the property becoming stagnant on the market and increasing void periods for the landlords income.
Another important factor of a good valuation is the assessment of the property condition and the advice on current health and safety and mandatory safety check for property.
Health and safety requirements do tend to change quite often, so it is important to keep up to date.
A report of any possible remedial works that need to be undertaken before the property is deemed as fit for the rental market should be made.
At this point, often discussed, is the possibility of any upgrades or refurbishment that could help increase the income of the property.
Such upgrades could include improving decoration, more modern fittings, additional bedroom, room partitioning and possible building extension - maybe even change of use for example splitting a house into flats.
what do letting agents charge?
Typical fees that letting agents charge are set up fee, management fee and a letting only fee. Other fees may apply for additional services such as inspection, checkouts and rent reviews.
These fees will depend upon the level of service you decide upon.
Full Management Set Up Fee
During the initial stages of the lettings process it is essential to make sure the property is presented and advertised correctly, applicants are screened properly and the property is checked for health and safety compliance.
The set up process is very time consuming and must be done correctly to help prevent future issues arising, other tasks included at this stage may include;
- To Let board installation
- Utility account management and reads
- Tenant referencing
- Tenancy agreement preparation
- Inventory and schedule of condition
- Bond collection and protection
This recurring fee is commonly charged on a monthly basis and collected from the rent. The management fee covers the ongoing management of the property such as rent collection, rent management, contractor instruction for maintenance issues and general liaison between tenant, agent and landlord.
Tenant Find Fee
If you are an experienced landlord or have decided that you have the time and knowledge to manage the property yourself then this fee covers the marketing, tenant selection and initial rent collection for the tenancy.
Additional things to consider at this stage should include the features that are included within the full management set up fee, especially inventory and schedule of condition and the protection of the bond.
Other fees may be additional to the main services described above and may include inspection, check in and check out and notice drafting.
When taking fees into consideration it is important to note that cheaper and seemingly “all inclusive” fees may not be the best choice for your particular needs, so make sure you know exactly what you are paying for.
It is now unlawful to charge tenants application or set up fees. Fees that are applicable to tenants could include any amendments to the tenancy agreement - mid tenancy, late rental payment charges and although not deemed as charges, any deductions from the tenants bond at the end of tenancy.
As mentioned above when considering the fees for agents it is better not to check like for like but ask for the details of each service offered. What may seem as “like for like” i.e. a set up fee, could vary greatly between each agent and their service offering.
A more important consideration to take into account is the experience and reputation of that particular agent. What may seem to have saved you a few pounds could mean a VERY costly mistake should things go wrong!
Good luck with finding an agent!
If you would like to ask any further questions or discuss your property or portfolio then please don't hesitate to contact us at any time.
A Complete Letting Agent Guide
Everything you need to choose a letting agent.