If you are planning to rent out or lease some property, you have three main options. You can either let the property privately, use an estate agent, or hire a specialist letting agent. Letting your home personally, often subjects property owners to immense pressure. As a result, most property owners opt for professional help. But whom do you choose; an estate agent or a letting agency?
Understanding your options
Before choosing an estate agent or a letting agency, you need to understand how these two options work. As much as their services might seem interchangeably similar, each is more suitable for some specific job(s) in the property market.
Estate agents are an obvious choice for many landlords. Ideally, estate agents mainly focus on buying and selling property, and letting is of course, not their primary area of specialisation. While letting happens to among the many services they offer, they do not have what it take to do a first-class job. So if you are planning to let some property, letting agents have an upper hand. On the other hand, you want to sell or buy property, and estate agent can help you get a decent deal.
Letting agents focus purely on lettings and not sales. As a result, they understand the market better than estate agents do. Letting agents will find you the right tenants, strike the deal, collect rent for you, and manage the property on your behalf. The services offered to property owners depend on whether one chooses a fully managed plan, or a let only plan.
Property owners with the option to choose estate agents or letting agents are obliged to choose the latter when it comes to renting or leasing. Letting agents will help you secure tenants faste,r and make managing your rentals a breeze.