Deciding which letting agency to use can be a daunting proposition. In many ways it’s similar to the process and thoughts we go through when choosing a contractor to do work on our property or buying a second-hand car. It’s a process that is not done very frequently but involves a sometimes-large financial transaction – or in the case of using a lettings agency to manage your property, could be a number of repeat transactions on a monthly basis. There is a certain amount of trust required before taking the plunge to commit to a particular agency and much of the information needed to make the decision is not easily available.
Agencies will have various levels of skill, reliability, honesty, credibility and reliability. Ensuring the integrity of an agency is paramount to safeguarding our investments. Rogue operators or fraudulent entities lurk in the shadows, posing significant risks.
However, as a landlord there are things that you can do and look for which will make the process smoother, less stressful and more successful – and also avoid the poor quality or even fake agencies. Read on to find out what steps you can take to protect yourself:
1) Verify Legal Compliance
Lettings agents must as a minimum take the following three steps: Firstly, they must be a member of a redress scheme. Second, they must have client money protection. Finaly, they must publish their fees on their website and at their physical office (if they have one). All three of these must haves can be easily checked on-line.
2) Trust Your Instincts
Sometimes you can’t put your finger on it, but a website just doesn’t look ‘right’. Go with your gut feeling, if the website looks wrong for whatever reason, it is usually a good sign that the agent isn’t all that they claim to be.
In addition to this simple check, the information in 1) above can also be checked on the website. Also, there are various other bits of information that should be found on the website like the company name and address, contact details including a landline and central email address (such as info@ or contact@), VAT registration number (if applicable), and a company number.
Take a look at the ‘About Us’ page which should show details of the owners and the team. These details can then be checked against profiles on social media.
3) Check Google Reviews
Google reviews are a good source of information. Take time to read them and any responses from the company. It is normal to have some negative reviews, so be suspicious if there are none.
4) Investigate the Office Location
Unless the company is very new, you should be able to confirm that the agency exists at its reported address by using Google street view.
5) Scan Property Portals
Check that the agency lists its properties on one or more of the major portals: Zoopla, Rightmove and On The Market.
6) Evaluate Property Listings
This is another approach that relies on ‘gut feel’. Check out the property listings to get a sense of whether they feel ‘right’. Are all the properties or rooms just too perfect and not believable? Too good to be true? If they are, this could be another sign that something is amiss.
7) Verify with Companies House
This is a simple enough thing to do. Once you have identified the company name and number, check out the information listed at Companies House. Have there been regular filings? Check that the persons with control (shareholders, directors, secretary) match those people listed on the About Us page or at least make sense.
8) Ask for References
Request references from other landlords who have used the agency’s services in the past. A reputable agency should be able to provide you with references or put you in touch with satisfied clients.
9) Seek Legal Advice
Ask for help. A solicitor will be able to help you confirm the identity of any company or individual involved in the running of a company.
10) Harness the power of Google
Finally make good use of Google to check the facts found on the website, the people involved in the company and any other pertinent information claimed on any literature.
Fortunately, completely fake lettings agencies are rare, but it pays to do your homework thoroughly to separate the good from the bad and find a reputable company to manage your property for you.
Feeling uncertain or have questions lingering in your mind? We’re here to help. At Lifeboat Lettings, we understand that choosing a letting agency is a significant decision, and we’re more than happy to address any concerns or queries you may have. Whether you seek reassurance, clarification, or simply want to explore your options further, we’re just an email or phone call away.
Reach out to us today, and let’s embark on this journey together. Your peace of mind matters, and we’re dedicated to guiding you through every step of the way.
