Letting Agents under fire

The Estate Agent Today has recently published an article about the  “provocative attack” on Letting Agents by Keshav Thukaram, Managing Director of Smartlandlord.co.uk.

Mr Thukram, states that “Landlords are being taken to the cleaners by greedy letting agents who are milking them for everything they’re worth.”  His remarks have clearly not been welcomed by professional agents working in the lettings industry and for good reason too.  In response, Laura Heyes writes “Anyone who is trying to sell himself by being critical of others cannot be trusted!” - ouch.

Yes, we are experiencing an economic crises and purse strings are a little tighter than normal however, Private Landlord advertising and Letting Agencies have co-existed for years.  I cannot see this ending anytime soon just because there is a “new service” available.

Letting Agents provide a valuable service, particularly if the property is being managed.  It is not about whether the landlord knows a good plumber or electrician, it is when the tenant does not pay rent or causes a nuisance to neighbours, that Letting Agents add real value.  As an ex Letting Agent myself, I can vouch for the work that goes into managing a portfolio of properties and the headaches associated when things don’t go quite as expected.

However, there is also room for Private Listing sites that cater for Private Landlords who perhaps have experience in letting property or who are resourceful and have enough time on their hands to deal with their tenants.  As long as you follow the latest legislation, property regulations and use professionally drafted tenancy agreements, then 9 times out of 10, the let goes ahead smoothly.

Long live consumer choice.