Landlords beware! Top tips on how to protect yourself if you’re a landlord.
It’s often said that the devil is in the
detail and that can also be true when it comes to lettings agreements. Landlords
shouldn’t fall into the trap of appointing an agent who tells them all the main
conditions, to tempt them into signing an agreement, without first scouring the
small print. It’s always worth double checking, even if just to confirm their
decision is the right one.
“The headline commission of full
management, rent collection or introducing a tenant are the obvious aspects to
consider when appointing an agent,” says Jade Bearryman who manages sales and
lettings at our Haywards Heath office. “But there have been nationally reported
instances about agents charging commissions on remedial or repair work they
organise.”
“We strongly disagree with this practice so we don’t charge any commission on work carried out as part of landlords’ ongoing maintenance. After all, we’re already being paid a management fee.”
“I recommend that landlords ask their agent
directly whether they receive any commission for works done on their property,”
advises Jade. “It’s one area which is
often mentioned by landlords coming to us for advice after they discover their
previous agent is charging extra for every piece of work carried out on the
property.”
For further information and advice,
landlords can also contact the Association of Residential Lettings Agents
(ARLA).
Jade suggests that landlords should study
the small print before signing anything, “Ask questions of any potential agency
to check the costs for all services being provided, from the headline monthly
commission to references and inventories”.
“And don’t forget to ask whether the agent
benefits in any way from commissioning work on the managed property - you might
be surprised at the answer so this could protect you from paying more than you
should.”
For further information on all aspects of
lettings, including buy-to-let investments, please contact Jade at our Haywards
Heath office on 01444 450528 or pop in and see one of our friendly team at
your local lettings office.
