Episode Details

Most landlords choose a letting agent on fee percentage and a gut feeling about the person who turned up to the valuation. Both are the wrong place to start.

In this episode Simon Bacon and Ian Sadler work through the 20 questions landlords should be asking before they hand over their property: what a letting agent actually does day to day, the real difference between let-only and fully managed, why the quickest tenant is rarely the right tenant, what a proper referencing process includes, how to judge fees against value, and the one warning sign that should end a conversation with an agent early.

Simon runs a lettings agency, so he has an obvious interest in this topic and says so on air. The answers are given straight anyway, including an honest take on whether agency fees are worth paying and why letting agent reviews are often read the wrong way round.

Simon Bacon is the owner of Preferential Properties, a lettings and sales agency serving Sutton Coldfield and North Birmingham with over 17 years in property management. Get in touch at prefprop.com.

CHAPTERS 

0:00 Cold open 

0:24 Welcome 

1:31 What does a letting agent actually do? 

2:44 Let-only versus fully managed 

4:47 Why accurate pricing matters 

5:26 How to tell if an agent understands tenant demand 

6:11 How important is communication? 

6:48 What to expect from a good agent when problems arise 

7:47 Why compliance knowledge matters 

8:22 Can compliance mistakes really be that serious? 

9:17 Is finding a tenant quickly the most important thing? 

10:03 What a good referencing process includes 

11:04 How maintenance issues should be handled 

12:55 Why systems and processes matter 

13:33 Should I choose the cheapest agent? 

16:04 How important are reviews and reputation? 

17:48 What to ask about property inspections 

18:11 How rent arrears should be dealt with 

18:47 How do I know if I'm getting value for money? 

19:13 The biggest warning sign when choosing an agent 

19:53 The most important quality in a letting agent 

20:35 The 5 things every landlord needs to know

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Get in touch with Simon for all your property needs. 
www.prefprop.com

E: simon@prefprop.com

T: 0121 2402244