Why are you paying your letting agent? - YouTube

Why are you paying your letting agent?

As a letting agent that might be a strange question to ask but having spoken to several

landlords over the past two weeks I'm literally starting to think "why are you paying your

letting agent?".

Now if the answer is "they do a great job, you're very happy with them" then this video

probably isn't for you but here are my examples of things that your letting agent aren't doing

for you that they definitely should be.

So, number one - testing your smoke alarms.

I spoke to a landlord the other day who had a tenant moved in by an agent, three days

after the tenants moved in the agent rang him and said "will you replace the smoke alarms?

Your current smoke alarms don't work".

I was very confused because as a managing agent that agent legally has to test the smoke

alarms on the day the tenancy starts and it started only three days earlier so why didn't

they know that the smoke alarms didn't work when the tenants moved in?

That landlord's broken the law without even knowing about it.

Who's going to get fined?

The landlord.

Yes you could try and get the compensation back from the agent but that's a whole lot

of awkward conversations and hard work that you're going to have to do.

So this makes me ask, is that agent up to date on current legislation and regulations?

I don't think so!

And if not, why not?

It's their job to know these things.

So, are they Arla qualified?

Are they Arla regulated?

Check your agent, do they actually know what they're doing?

Another thing that they are not doing is looking after their landlords best interests.

So, I spoke to another landlord who had tenants move in ten days into the tenancy the tenants

wanted to move out, so the agent rang the landlord and said "your tenants have found

these issues they want to move out, will you let them go?"

The landlord thought yes ok I will let them go.

At no point did that agent say to the landlord "they've signed a twelve month tenancy, they

are legally responsible for the rent, the utilities, the council tax and the re-marketing

costs before a new tenant moves in".

Never mentioned!

Had the landlord known that then his decision might have been slightly different and now

the landlord has got a void gap, marketing costs and the agent obviously wasn't looking

after their best interests.

Now, some landlords might let a tenant go, i'm not syaing that's a problem but it is

an investment property and you need all the facts to make your decision.

So, are the agents acting in your best interests?

Another thing they're not doing is communicating.

So, I had another landlord who lives down south, she was sent an inspection report,

which is great, and it said "lounge carpet is rippled and threadbare, tenants would like

a new carpet".

Ok, landlord says "Can i see a picture?", no pictures, chasing pictures, couple of weeks

later she finally got a picture.

How could you send a report asking that the tenants want a new carpet, would you like

a quote?

Shall we sort it for you?

Without actually knowing what she's looking at or what she's talking about!

When I spoke to this landlord and advised that maybe a contractor could go and just

stretch the carpet out instead of a brand new carpet her agent hadn't ever mentioned

this.

Who's favour are they working in?

Yes, we have a responsibility to act in the tenants best interets and of course if a new

carpet is required you get a new carpet but a landlord needs all the facts.

So, what I would say is why are you paying your agent to give you bad information and

lose you money?

If you would like to discuss switching agents, which is completely hassle free and I can

do it all for you and discuss the process with you please feel free to give me a call.

Or I do a one off property portfolio review which would help you know that you were legally

compliant by testing smoke alarms.

Another landlord I had the other day, I went to test the smoke alarms on an inspection

which is normal practice, the tenant says to me "oh they've not worked for three years,

the other agent never tested them".

Why are you paying about ten percent a month for somebody not to do their job?

If you would like to discuss this further the office number is 01423 529250 or the email

is [email protected] and I certainly wouldn't be paying an agent if they weren't

doing a proper job.

Thank you