If you’re considering renting your property as an alternative to selling, it would be understandable if you considered using the agent who is handling your sale, to find a tenant instead.

However, a word of caution here on two counts. Firstly, many estate agents who struggle to achieve sufficient numbers of sales decide to try their hand at lettings, as an alternative revenue stream, sometimes with disastrous consequences. 

Rentals is a very different business to property sales, requiring a variety of skill sets of which many estate agents simply have no experience or natural inclination. Estate agents seldom, if ever, have to handle lease documentation, references, deposit guarantees, or inventories. They are unlikely to have any knowledge of the relevant landlord and tenant laws, nor are they likely to be able to advise you about the vast amount of legislation that will certainly affect you as you move from resident to landlord. They also often have a culture of “quick fix sale” rather than the ongoing care required in property management. 

Some agencies who handle both sales and lettings are potentially much more exposed to financial difficulty as well. This is especially true of agents who are new to lettings, because it usually takes at least two years to develop a portfolio of rental properties that is sufficient to sustain a healthy business. 

So if you are struggling to sell and are considering letting as an alternative, there is no obligation on you to use your existing selling agent and you would do well to speak to one of our dedicated letting specialists.

Letting your property is an important decision and requires the services of a lettings specialist who has the training, experience, knowledge and skills to help you ensure that your greatest asset is both protected and profitable. Please feel free to call us for a confidential chat about letting your property – we’re proud of our reputation and would like to show you why!