Many Landlords stay with the same letting agency for years, as often perceive changing letting agency is a hassle, even though their current agent is not delivering on service. Some don’t realise that changing a letting agent is even possible, meaning some agents can become complacent once a tenancy is underway and Landlords lose patience when they do not continue to see the value in what they are paying for.

So why do Landlord’s leave their letting agent?

Lack of communication, overpriced maintenance charges, long void periods in between tenancies are some of the reasons why Landlord’s consider moving the management of their property to a new letting agent.

So how do I switch?

In reality, changing letting agent can be a straightforward and hassle free experience for both landlords and their tenants. 

The most common misconceptions from landlords considering switching letting agent.

1. I have a signed agreement with my letting agent so can’t leave.

In most cases you will be tied in to an initial fixed term period (usually 6-12 months) with your letting agent stated on the Terms of Business which you would have signed. This is to avoid landlords leaving a company immediately after an agent has invested considerable time and effort in finding, referencing and moving in a new tenant.  This document will outline what the fixed term period is and any notice required to terminate the contract.

If you are out with your initial fixed term or approaching the end of the contract, you can most likely end the contract by giving 1 or 2 months’ written notice. 

I don’t want to lose my existing tenant – should I wait until end of tenancy?

The short answer is No.  The Tenancy Agreement is a contract between the landlord and the tenant.

Terms of Business is contract between agent and landlord.

It is a straightforward process to change agent during an ongoing tenancy as it means that the new agent can smoothly transition the property without the added task of advertising and finding a tenant.  The tenant may be pleased with the changes also if the existing agent has not be delivering on service and therefore may mean they will stay longer.

3. I don’t want the hassle of switching property agent

When you switch letting agency, it’s a straightforward process for landlords. Once a landlord has given their letting agent written notice that they would like to leave, the new agent will/should handle all aspects of the switch on behalf of their client.

At PIIM Property, we will firstly contact the tenant regarding the change, informing them of who we are and when we will take over the management of the property.  All details will be discussed and agreed including changing bank details for rent payments, who to contact in case of maintenance/emergency issues and what our expectations are.

We will obtain the current property file from the existing agent to ensure we have all necessary information, including deposit details, check-in inventory and tenancy agreement.  

The property file should also contain all safety certificates and warranties.  These will be checked fully to ensure compliance with legislation.   Property keys will be collected and held in a secure manner.

We will arrange a property inspection as soon as possible after taking over the management.  This will enable us to meet and greet the tenants, give us a snapshot of the current condition of the property, and an opportunity to highlight any potential maintenance issues.  Further inspections are recommended twice a year, unless we identify an issue that requires more regular inspections.

4. Are letting agency all the same, it isn’t worth hassle of changing letting agency?

It may appear most letting agents offer similar lettings and property management services, however, these can differ considerably in regards to competence and communication.

PIIM Property are qualified and carry out independent inspections.  All staff have achieved a minimum of Level 3 Propertymark qualifications, or working towards them.  Many agents are unregulated putting landlords assets at risk.  Being ARLA Propertymark Members, we adhere to a strict code of practice.

Communication and accessibility is a common complaint from landlords looking to switch letting agency responsibilities over to us.  We use cloud based software and ensure all messages, emails and texts are dealt with in a timely manner.

Pricing – Often, you will find estate agent and letting agency are tied to a franchise model which restricts then to what service they can offer and the fees associated with them.  Some independents have the benefit of providing a similar service as a cheaper cost.  Checking agent credentials and insurances is imperative and agents are completely transparent in everything they do.

At PIIM Property we believe in always being honest with our clients and working in their best interest.  If you are looking for a new letting agency in Consett, get in touch.