xx
Select Insurance Product Here
Property letting Article
Advertising
  Insurance Product Locator
  Use this Search facility or select from the Menu below
site search by freefind
Home
 

Landlord Rental Insurance HomeLet - Rentguard - Intasure -

  Landlord Rental Guarantee Insurance
 

Tenants Rental Insurance HomeLet - Rentguard-

  Buy to Let Landlords Insurance
  Holiday Homes Property Insurance & UK & Overseas Property Insurance
  Second Home Property Insurance including chalet/cabin
  Home & Contents Property Insurance for the UK including Listed Buildings
 

Blocks of Flats Insurance

  Student Insurance - Property
  Business Insurance
  Northern Ireland Residents Insurance
 

Bicycle Insurance

  Car-Bike-Van- Caravan-Taxi- Motor vehicle Insurance
 

Holiday & Travel Insurance

Gap Year Backpacker Insurance
Car hire / van hire / motor home hire excess insurance
Car Hire / van Hire / Motorhome Hire / Minibus Hire Excess Insurance from Questor

Pet Insurance

Business Insurance

Wedding Insurance

Boat Insurance

Health and life Insurance
  Other Insurance
 
Advertising

Self drive hire vehicle company rental insurance

The Cheapest Letting Rental Agent May Not Be The Best For Value by Philip Suter - EzineArticles.com Article February 2006

For the property owner who is letting out their home or investment property the maximum return on investment is very important. This applies on the amount of commission that you pay to your letting agent.

Many people carry out a fair bit of research before choosing their letting agent covering the following criteria. How long have they been established - do they belong to a professional organisation – how do they market a rental property – do they have qualified staff – what are their costs for letting?

Over the past fifteen years in the UK there has been a tremendous growth within the residential letting business. This is as a result of improved rental laws, growth in the Buy to let market, etc. This similar situation has happened in Ireland, France and other European countries.

In the UK at 2006 anyone can set up business as a “Letting Agent”. This is quite a worrying situation whereby they can be collecting rent and deposits, not setting up designated “client bank ” accounts to put these funds in and go off with the proceeds. Although there are now numerous agents who are members of ARLA (The Association of Residential Letting Agents), NALS (National Approved Letting Scheme) NAEA (National Association of Estate Agents) and RICS (The Royal Institution of Chartered Surveyors) anyone can be in business without belonging to such a professional organisation.

An agent who joins one (or more) of those listed Professional organisations must have staff working for them who have experience in the letting industry, they must have Professional Indemnity insurance, have audited client bank accounts and run their business from proper offices, All of these standards cost a lot of money and have to be taken into account with the agents fees.

There are of course many long established agents out there in the UK who choose not to belong to such an organisation (Until the Government brings in Licensing regulation they can still continue like that) and run very successful business, holding client bank accounts, having professional indemnity insurance and getting their staff properly trained.

Do choose your letting agent with care, remember many work on a no let no fee basis and it can be very costly marketing a property for an agent that you actually don’t let. The other important consideration is to always let an agent you instruct know if you are instructing more than one agent. There is nothing more embarrassing for an agent or a new tenant when suddenly the door of the rental property opens and in walks another agent with prospective renters and the owner had never notified the first agent that they let it via another agent. There are of course many long established agents out there in the UK who choose not to belong to such an organisation (Until the Government brings in Licensing regulation they can still continue like that) and run very successful business, holding client bank accounts, having professional indemnity insurance and getting their staff properly trained.

Do choose your letting agent with care, remember many work on a no let no fee basis and it can be very costly marketing a property for an agent that you actually don’t let. The other important consideration is to always let an agent you instruct know if you are instructing more than one agent. There is nothing more embarrassing for an agent or a new tenant when suddenly the door of the rental property opens and in walks another agent with prospective renters and the owner had never notified the first agent that they let it via another agent.

If you do instruct more than one agent, make sure you are not breaking any sole agency agreements or having different rental prices with different agents

Philip Suter is a Director of JML Property Services http://www.jmlproperty.co.uk a UK based company offering Insurance products on line at http://www.jml-property-insurance.co.uk and a holiday home advertising service http://www.jmlvillas.com and management training within the uk. He is a very experienced property consultant with over 30 years work in the Residential letting business in the UK and served on the National Council of ARLA. He is a Fellow of the National Association of Estate Agents (NAEA) and a Member of The association of Residential Letting Agents (ARLA) Article Source: http://EzineArticles.com/?expert=Philip_Suter

As Featured On Ezine Articles

©Philip Suter jml Property Services February 2006

Back to Insurance Articles

______________________________________


See also Personal safety for Letting Agent and Estate Agents

Property Insurance

__________________

UK main residence Property Insurance


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contact Us | Privacy Statement | Terms of Use | Site Map| About us | jml Property Insurance Press Room
jml Property Insurance.co.uk /jml Property Services acts purely as an online web promotion service for insurance companies. We are not insurance brokers and are unable to offer advice or deal with any of our advertisers enquiries. It is not an insurance comparison price website.. All dealing must be with the insurance company that you will gain access to via a link from this website. jml Property Services are unable to give advice either verbally or in writing regarding insurance or assist with changes to insurance policies that you have taken out. You must contact the insurer direct. We are therefore unable to provide any quotes ourselves as we would be breaking the law.

IMPORTANT NOTICE: By continuing to use this website you shall be deemed to be bound by and to have accepted our Terms of Use - Privacy - Cookies

jml Property Services is a trading name of Jeffrey Milner Ltd - PO Box 80 - Princes Risborough - Buckinghamshire - HP27 0WA - England - Established 1979

© 2004 - 2017 jml Property Insurance - Regularly updated - All rights reserved

Find us at | | |