UK Property Letting Agents

Reputable agents’ terms and conditions will set out basic and additional charges as far as is possible, but it’s always worth discussing how the agent views things like insurance claims and burst pipes. Otherwise, fairly common separate costs in the lettings process include £75-£85 for drawing up the tenancy agreement, and the specialist inventory clerk’s fee (they compile a report on the condition of everything in the property at the start and end of each tenancy).

UK Property Letting Agents & Potential Insurance

A good letting agent will highlight potential insurance issues for landlords to check. For instance, does existing buildings and contents insurance cover tenanted property?

Is there sufficient cover for loss of rent or legal expenses should tenants default on rent? Some agents have organised specialist policies with insurers for landlords who don’t mind paying more for peace of mind, for instance Simmons & Sons’ block policy covers legal expenses for things like repossession and costs £42 per annum. Caroline Cope favours this because solicitors’ costs for a repossession action can easily reach £400 and upwards.

For more relevant news items and magazine articles please click the links below:

Magazine Section - Property. Useful collection of articles

Article: Where to Invest in 2009 - Property

Article: 20 Things You Need To Know About ... Buying Property Abroad