Resources For Landlords

Changing your letting agent

Changing your letting agent mid-tenancy needn’t be daunting. Over the years, we’ve had many conversations with landlords, in which they have expressed dissatisfaction with their current agent and been surprised to learn how easy it is to change letting agent, even mid-way through the tenancy. There are many different reasons a landlord will decide to change letting agents, but there are some reasons we hear regularly.

Reasons for Changing Letting Agent

1. Poor Service with incumbent letting agent

One thing we hear time and again is the lack of communication from letting agents. Slow response times or complete unresponsiveness can be very frustrating for landlords. Another concern is the letting agent not being up-to-date with legal issues and lettings compliance, and if they are, they haven’t communicated important updates back to the landlord.

 

2. Have found better value elsewhere

Finding a tenant is the easy part. Finding the one most suited to a property and the owner’s needs, while also ensuring the property is well looked after throughout the tenancy, is a completely different matter.

 

3. Prefer to stay local

Many letting agencies have a local shop front, but their property management services are farmed out to a distant call centre. This means they don’t always have a handle on the best local tradespeople for maintenance on your property and their communications can be impersonal and scripted.

Changing Your Letting Agent: Step By Step

1. Check Contract & Serve Notice

Start by looking at the Terms of Business as this will stipulate the amount of notice you must supply. This should not be confused with The Tenancy Agreement, which is the contract between the tenant and landlord. There will likely be an initial fixed-term period, which can vary between agents, but a 3-month notice period is standard. Some of the larger, more corporate letting agencies have stricter exit terms, but we can help you negotiate this barrier. Notice should be served in writing – either by post or email – and you should request confirmation of receipt.

 

2. Instruct New Agent

Once you’ve found the right agency, let them guide you through the process. You’ve chosen them because they’re good at what they do and can handle the finer details. They’ll communicate with the previous agency to ensure a smooth transition and will explain the change to your tenants. In most cases, if you (the client) have been disappointed with the previous letting agent’s service, then it’s probable your tenant feels the same. Your agent will coordinate the transfer of all relevant documents, funds, keys etc. If the new agency has done this before, they should know exactly what to do and can take away any stress.

 

3. Enjoy Your Investment!

After the transition is complete, there’s no reason why you can’t simply sit back and enjoy a stress-free property investment. The best agents will do all the heavy lifting for you!

Changing your current letting agent is more straightforward than you might think. But only if you have the right team on your side.

Howard Morley & Sons can support you through this process. Contact our team to find out more.

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