Use an Agent vs Renting it yourself

So what are the benefits of using an accomplished letting agent? Well…besides the fact that we do this every day, a good assertive agent can ask the right questions before a viewing and pick holes in a tenant (obviously not literally!). There are certain questions that our team will ask that can normally sniff out the good from the bad.

Firstly, with the marketing of the property, you need an agent to give you an accurate valuation of your property. If your rental amount is too high then you will not get as many enquiries and this could in turn force you to make the wrong move, you want the pick of the bunch in terms of tenants so that you (the landlord) are in control of the tenant(s) that you wish to choose.

Here are a few “important” questions that we at Keystones Property will always ask before booking a viewing:

1. Why are you moving from your current premises?
2. What do you do for work?
3. How much are you earning?
4. How many people are looking to move in?
5. When do you need to move by?
6. Can you provide us with bank statements?
7. Can you provide us with wage slips?
8. Employed or Self Employed?

However, it is not only the answers to the questions that should satisfy you. Anyone can make up stories and provide a case. We want to see proof!

Then on the viewing is when you get a real good feeling about your tenants. I teach my staff to search for subtleties such as:

• How are they dressed?
• Are they presentable, looking clean or rugged?
• How do they speak to you? Polite or Rude?
• Are they on time for the viewing? (Late on the viewing = Late with the rent)
• Are they organised with their wage slips or bank statements?
• Can they control their children on the viewing?
• You may be laughing about how far we go with this, but you won’t be laughing if at the end of the tenancy there are holes in walls, chewing gum in carpets and cave man style crayon drawings on your bedroom walls – and trust me I’ve seen them all!

Here at Keystones Property we make sure we cover all angles!

We will fully vet the tenants before the viewings and then on the viewing themselves.

Their stories over the phone need to match up again on the viewing! Once a tenant wants to take a property, we decipher the day they want to move, if they have the money and secure a holding deposit to take the property off the market for them as commitment. We then run our checks through a third party company checking for CCJs, Defaults, Bankruptcy, Rent Arrears and general bad credit, plus previous addresses. We obtain work references followed up with bank statements and wage slips.

We also find it very important to see that wages are entering the tenants’ bank accounts. It is also good to check if the tenant is paying their previous landlord via standing order through their bank accounts too. Under full management Keystones Property can also provide Rent Protection Cover should your tenant forfeit on their rent.

Should you want to hear more of our expertise in the field, then call us for a chat on 0203 697 7788.

Instant 60 Second Valuation

Click here - What is your home worth?