What Does a Letting Agent Do for Landlords?

Thinking of renting out your property in Coatbridge, Glasgow or anywhere else here in the Lanarkshire area? The prospect of finding a reliable tenant and managing the legalities can be daunting. But fret no more! Letting agents can be your trusty guides, ensuring a smooth and successful rental journey.

What is a letting agent?

A letting agent is a professional individual or company that specialises in facilitating rental transactions between landlords and tenants. Their primary role is to assist landlords in managing their rental properties effectively, however, they also act as intermediaries, representing either landlords or tenants (or both) in various aspects of the rental process.

In Scotland, anyone who wants to carry out letting agency work is required to be registered with the Scottish Letting Agent Register who ensure they are qualified for the job and possess appropriate training. They are also required by law to adhere to the letting agent code of practice. They have the option to join other professional associations and redress schemes as well.

What is the difference between a letting agent and an estate agent?

People sometimes confuse letting agents and estate agents. While both professions deal with properties, their scopes differ significantly. Letting agents specialise in managing rental properties. On the other hand, estate agents are involved in property sales transactions, assisting clients in buying and selling properties. In essence, letting agents focus on the rental market, while estate agents can cater to both sales and rental sectors.

Do letting agents work solely for the landlords?

While a letting agent is contracted by a landlord to help with his or her property rental, the agent doesn’t look out solely for the landlord’s interests. They must adhere to legal and ethical standards, which may include impartiality in certain situations to ensure fairness to all parties involved. They also have a duty of care towards tenants and must ensure compliance with legal requirements for both parties involved in the tenancy agreement. This balanced approach fosters trust and facilitates positive relationships between landlords and tenants.

Having said that, from the point of view of the landlord, when it comes to navigating Scottish tenancy law and maximising your rental income, letting agents are valuable allies. What does the letting agent do for the landlord? Let’s explore these diverse roles and responsibilities.

Roles and responsibilities of a letting agent

Letting or Rental Valuation: A letting agent can advise on competitive rental rates for your property. They will look at factors such as the type and size of your property, number of bedrooms, current condition, any refurbishments and extra features, and current and expected demand for such types of rentals in the area. Letting valuation involves an understanding of what the current rental rates for similar properties are, so that you can set a realistic price and position your property appropriately. This local expertise of the letting agent will help you as the landlord to get the best possible rent for the property.

Advice on what’s needed to prepare your property for market: The letting agent can also let you know if certain refurbishments or updates are necessary for your rental property. This can be due to legal requirements for rental properties, such as gas, carbon monoxide, electricity and other safety requirements. They can also give you advice on what can be done to increase the rent potential of your property.

Advice on other legislated requirements: Did you know that landlords need to register with the local council where your property to let is located? Or that you have to provide a tenant with a document, along with their tenancy agreement, that explains to them their rights and responsibilities during the tenancy? There are a number of other documents and steps required of you as a landlord not just in terms of maintaining the property, but also relating to how you interact with your tenant. A letting agent can assist you to be aware of all this and to comply with safety, tenancy and other applicable regulations.

Marketing Your Rental Property: Once all the prerequisites to letting out your property are complied with, the letting agent can go ahead with marketing. They will craft compelling property descriptions, floor plans and professional photographs that showcase your property in all its glory. They can then advertise the property on various platforms, reaching a wider pool of potential tenants. With access to a network of advertising platforms, they can attract the right tenants, saving you time and effort.

Tenant Screening: Finding the right tenant is crucial. Letting agents assist landlords in finding suitable tenants for their properties by conducting comprehensive tenant screenings. What do letting agents check when referencing? They look into prospective tenants’ backgrounds, proof of income, credit histories, and rental references to ensure reliability and suitability.

Arranging Viewings: Letting agents handle scheduling and conducting viewings for interested tenants. This is the opportunity to showcase the property’s features and amenities while addressing any inquiries or concerns they may have.

Negotiating Rental Agreements: Letting agents negotiate rental terms and conditions between landlords and tenants, including rental price, lease duration, and any special provisions or requirements.

Handling Lease Documentation: Once you have come to an agreement with a potential tenant, you can proceed with crafting tenancy agreements that comply with Scottish regulations. Tenancy deposit needs to be lodged with a third-party tenancy deposit scheme within 30 days from receipt. Landlord also has to provide several pieces of legal documentation to the tenant and also the local council. Letting agents ensure all vital paperwork is meticulously completed and legally sound.

Rent Collection and Arrears Management: Some letting agents offer rent collection services, sparing you the awkward task of chasing late payments. They’ll ensure your rental income flows smoothly and predictably, addressing any arrears or late payments promptly.

Property Management: For extra peace of mind, some letting agents provide property management services. They oversee property maintenance and repairs, coordinating with landlords and contractors to address any issues that arise during the tenancy. This includes regular inspections of the property to assess its condition and identify any maintenance or repair needs. They also manage inventory checks at the beginning and end of tenancies to document the property’s condition.

Tenant Communication and Dispute Resolution: Letting agents act as a point of contact for tenants, addressing any queries, concerns, or maintenance issues that may arise during the tenancy. They facilitate communication between landlords and tenants and assist in resolving disputes or conflicts that may arise.

Full-Service or Let-Only Letting Agency Services?

As mentioned in the previous section, some of these listed functions aren’t offered by all letting agencies. They typically offer either a full-service management arrangement, or a more limited ‘tenant-find-only’ service. What is the difference?

Full Management Service:

This comprehensive package typically includes services such as marketing the property, tenant screening, lease preparation, rent collection, property inspections, handling maintenance and repairs, and dealing with tenant queries and issues.
Letting agents take care of all aspects of property management on behalf of the landlord, providing peace of mind and freeing up their time from day-to-day management tasks.
Landlords pay a higher fee for this service, usually a percentage of the rental income, but benefit from a hands-off approach to property management.

Let Only Service:

Also known as “tenant find” service, this arrangement involves assisting landlords in finding suitable tenants for their properties.
Letting agents typically handle tasks such as marketing the property, conducting tenant viewings, tenant referencing and screening, and preparing the lease agreement.
Once the tenancy agreement is signed and the tenants move in, the landlord assumes responsibility for rent collection, property maintenance, and dealing with tenant issues directly.
Landlords pay a one-time fee or a fixed fee for this service, which is usually lower than the fee for full management service, as the letting agent’s involvement is limited to finding and securing a tenant.

Do you have property for rent in Glasgow or the Lanarkshire area?

Kirkland Letting Agents offer a full management service to take stress and hassle out of renting out your property. With over a decade of experience in the letting industry and senior management certified by Landlord Accreditation Scotland, we offer comprehensive property management services aimed at simplifying the letting process and ensuring a stress-free experience for landlords. From initial valuations and legislative compliance to marketing and tenant vetting, our services are designed to meet all your letting needs.

As a registered Scottish Letting Agency and member of the Council of Letting Agents, we are committed to providing reliable and professional support to landlords throughout the letting journey. Contact Kirkland Letting Agents today for a free valuation and let us help you successfully rent out your property.

For enquiries and to get in touch with the team, click on the button below.

What Our Clients Say

"Selling our home with Kirkland was the best decision I have made. We managed to achieve an unbelievable price for our property and sold in a matter of days. Gillian has been an absolute joy to deal with, from arranging viewings to giving me advice, she has been on hand to answer any of my questions and could not be more helpful. She has taken care of everything for me, has ensured that I am up to date at all times and is just such a lovely person. I can’t thank her and the rest of the team enough. I would recommend Kirkland to anyone thinking of selling their home."

"Best decision I have made was to go with Kirkland Estate Agents. Their service was first class. I cannot thank them enough. They totally took the stress out of everything and kept me updated every step of the way. our property was sold in super fast time and the offer accepted, exceeded what we first expected. I can't thank Gillian, Ross and Heather enough, they made you feel like nothing was a bother. I'm actually going to miss my daily chats with Gillian. I would highly recommend them to anyone. Thanks so much again for everything."

"I cannot recommend Kirkland Estate Agents enough from start to finish the team have been so supportive. Ross is always contactable and offers advice throughout. Gillian kept in touch throughout all the viewings offering advice and support taking some of the stress out of the process. I cannot thank the team enough and would highly recommend using them."

"just want to say a huge thank you to Ross, Gillian and Wilma , i waiting a long time and done my research for the best company to sell my house, its been a very emotional time these ladies kept me informed from start to finish, their service was above and beyond what I expected, I would recommend Kirkland Estate agents 100%."

"A huge thank you to Gillian & Wilma for making both the purchase and sale process run so professionally. Your customer service, communication and understanding of your clients make everything so much easier and stress free. I would recommend Kirkland Estate Agents to anyone, they truly are first class. Thank you very much Nicola & Jean"

"Thank you to Ross and Gillian at Kirkland’s for helping me sell my home. Within 1 week of it being on the market we had around 20 viewings carried out and closing date set. Very happy with the price we achieved! This business is very well organised and each step of the process has been straightforward. The reason we picked this agent to begin with was for the marketing / professional photos and they did not disappoint. Great service. Would highly recommend."

"We selected Kirkland Estate Agents out of 3 estate agents. The valuation was spot on, there was no hard sell from Ross. We thought their photography set them apart from other estate agents and found out it was done by a professional photographer. We appreciated the fact they are a small, local company who would do their best to sell our house. As a meticulous graphic designer, I valued their swift responses to my photography and copy-related enquiries. This level of service might not have been possible with a large, national firm. Thanks to Wilma and Gillian for facilitating a quick, above-home-report offer in July and ensuring a smooth process. Wilma's solicitor recommendation was also excellent. If I was selling in the area again I would definitely use Kirkland as I found them super helpful and very quick to action everything."

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