There are many myths and misunderstandings about transferring estate agents, especially if you’re in the middle of a tenancy agreement. Here, we look to debunk some of those myths and help you get a clearer picture of the benefits and process of changing estate agent.
Expand the statements below to learn more about how easy the process is with Samuel Estates.
In most cases, you will be tied into an initial fixed term period with your letting agent. 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.
The initial term can vary from agent to agent, but it is usually 6 to 12 months. The best place to start is to check the Terms of Business that you have signed. This document will outline the fixed term period and the notice that you must give to terminate your contract.
If you are out of your initial fixed term or are approaching the end of the contract, you can most likely end the contract by giving one or two-months’ written notice. This doesn’t have to coincide with the end of your current tenancy.
Many landlords believe that they have to wait until the end of a tenancy to changing estate agent. However, this is not the case. The Tenancy Agreement is between the landlord and tenant, with the agent working on behalf of the landlord. Changing agent doesn’t affect the legal rights or obligations of either party.
It’s a much more straightforward process to transfer estate 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.
If a letting agent has not been delivering on service, the tenant will likely be pleased that the management is changing, meaning that they may be more likely to stay in the property for longer than they would have with the previous agent.
Changing letting agent – whether at the end of or during a tenancy – is a straightforward process for landlords. Once a landlord has given their agent written notice that they would like to leave, the new agent will handle all aspects of the switch on behalf of their client.
At Samuel Estates, we are experienced in taking over management from other letting agents and make the process as straightforward as possible for our clients. We will:
The first step for us is to get contact details for your tenant. We liaise with the tenant directly regarding the changeover, letting them know who we are and when we will be taking over the property. We ensure that the tenant knows who to contact in the event of any maintenance issues, and has the correct bank details to make rent payments.
Including the Tenancy Agreement, prescribed information, referencing reports, deposit details, and check-in inventory.
Including safety certificates and warranties. We will check that your property is fully compliant with current safety legislation.
We will collect all sets of keys held by the previous agent on behalf of the landlord.
Our initial inspections are scheduled in the first six weeks from taking on the property.
While most letting agents – on paper anyway – offer similar lettings and property management services, how these services are carried out can be very different.
The main variables between letting agents, ones which can lead to the success or breakdown of the landlord-agent relationship, include:
Regulated letting agents must adhere to a strict code of practice, encouraging professionalism within the industry.
Check that the agent is qualified to manage your property. Samuel Estates is a fully regulated and licensed ARLA (& NAEA) Propertymark agency.
Lack of communication is one of the most common complaints from landlords looking to change letting agent.
We offer a dedicated Property Manager, meaning that landlords have one point of contact.
Landlords trust letting agents to manage their most valuable assets, and so agents must be completely transparent in everything that they do. We believe in always being honest with our clients and working in their best interest, even if it means less profit for us.
We would love to hear from you if you are thinking about switching from your current letting agent.
We offer two different letting service options to our landlords.
Our experienced property management team looks after hundreds of properties for clients based both nationally and internationally.
Our experienced property management team looks after hundreds of properties for clients based both nationally and internationally.
