The advantages of taking on a registered letting agent are numerous. They will know how to communicate with lenders. Furthermore, they will know the market in the area in which you are buying. This can be essential, because the type of property you buy may determine how much you can rent it for and the type of people who rent it. Knowing how high the demand for properties of each type are is part of a letting agent’s job. A letting agent may also be able to advise you on the standard of decoration necessary, including what fittings and furniture you need to provide. The letting agent should be able to find respectful tenants who pay on time every month. Furthermore, if you place your property in the hands of an experienced professional letting agent, lenders are more likely to approve your application.
If you do decide to use a letting agent to manage your property, it is almost certainly advisable to choose one who is registered with ARLA (the Association of Residential Letting Agents.)