Choosing a letting agent can be a minefield for landlords and it is often tempting to choose the one offering the lowest fees. Particularly in the current market in which agents are crying out for more properties and are therefore slashing their fees to attract landlords.
This may seem like good news on the surface, but landlords should not underestimate the importance of the relationship between themselves and their letting agent, which will ideally be a long-term one if their investment is to enjoy maximum success.
Says Darwoods senior branch manager, Peter Moate: “Of course landlords will naturally want to keep their costs down and will be looking for a competitive rate. However, when choosing a letting agent, landlords should never base their decision on price alone, but also consider that they could be working with their chosen agent for many years to come. They should choose someone they can trust to deliver a consistently good service and high level of expertise to help them make the most of their investment over the long-term.
“Some agents who offer very low fees to attract landlords claim they are able to do so because they have low overheads. However, it is clear that these fee levels are not sustainable – if they attract more landlords through low fees their client base will grow and their overheads will inevitably increase. They will then be forced to either put their fees up or drop their service level, neither of which will be good news for their landlords.”
Peter argues that to deliver a first class letting and property management service you need well trained, qualified staff; systems and procedures to stay up to date and comply with legislation; excellent marketing exposure for your clients; organised client accounting and experienced property managers. This is not achievable on low overheads whilst still maintaining a high level of service for all clients on a long-term basis.
With more than 15 years purely specialising in lettings, many of Darwoods’ landlords have been with the firm for a long time and enjoy a strong relationship with them based on trust. “Likewise,” says Peter, many of our newer landlords will be with us for many years to come because of the consistency of what we offer in terms of service, fees and understanding of the market.
“Our staff are local people and, whilst we are part of a larger company, our branch is run at a local level with a focus on delivering a very personal service to our clients, with whom we are proud to have strong, long-lasting relationships. Our landlords choose us because they want their investment to be in the safest possible hands; that is more important to them then any savings they may make in the short-term through heavily discounted fees.”
Darwoods, who are fully bonded members of ARLA, are proud to be able to offer their clients the best of both worlds – a locally delivered personal service with the backing of a large family firm with branches across the South. For advice you can trust on all aspects of renting or letting in St Albans please contact Darwoods on 01727 862999 or email 01727 862 999 or email
lettings@darwoods.com ENDS
Posted 26-09-2011
