First things first, you should work towards getting a fair price for your property, and that is only possible when you hire the right letting agent in Edinburgh.
Always choose a well-reputed agency with plenty knowledge and experience within the letting market. There are some common mistakes that property owners can make which can create issues;
1. Try not to get too emotional!
When selecting a property letting agent, try not to get too emotional about it; treat it like a business transaction.Don’t be impulsive about this decision and take your time before finalizing anything.
2. An Agent That Over-promises when it comes to asking rent
Watch out for agents who promise they will get you an unachievable rent for your property. An agent might convince you to market at a high price and have to reduce the price after the property has been sitting vacant for 2 months. It’s much better to market at £750/month and secure a tenant within 2 weeks, rather than asking for £800/month and have the property sit empty for an additional month.
3. Always Check the Credentials of the Estate Agent
Since you are going to pay this professional for their services, it is essential to ensure the letting agent has the experience to be dealing with your property. Regulation within the industry is imminent however as it stands there are no barriers for a an agent setting up tomorrow, with limited experience of lettings. At Umega Lettings, both our directors have passed their NFOPP letting agent qualifications and all our property managers have (and 5 of our support team are) working towards gaining this qualification. We’re also ARLA accredited which is a huge stamp of approval about the way we conduct ourselves. We also have plenty landlords who would be delighted to act as references, outlining their experience of our services.
4. Insist On a Landlord Information Pack and Face to Face Meeting before proceeding
A trustworthy and reputed letting agent will have no reluctance in sharing their data and analysis of the pros and cons with clients. A presentation (verbal, in writing or digital) which lacks in the vital facts and figures is a sure indication that they may not be up to scratch.