The Importance of Education for Letting Agents
16 October 2015 1327 Views
A letting agent's life is a varied one, with the profession requiring agents to undertake a wide range of activities in the line of duty.
One important part of an agent's work, that may sometimes get overlooked, is education. If everything is to run smoothly, letting agents are often need to educate both landlords and tenants on a wide variety of issues. Indeed, if this aspect of role is ignored, it's far more likely that costly and time-consuming problems, such as tenant disputes, will be encountered.
Rights and Responsibilities
In what sort of areas do letting agents need to provide education? For tenants, it's most important that they are made fully aware of their responsibilities when it comes to property maintenance.
According to figures from the Tenancy Deposit Scheme, more than half of deposit disputes are linked to issues surrounding damage or cleaning. With the organisation also reporting a significant increase in the number of disputes occurring in recent months, it is clear that agents who can educate tenants on these issues will save themselves a lot of time and hassle.
How can agents go about educating tenants? There are a number of different options that can be employed. It could be as simple as just talking to renters when a tenancy starts to ensure they are aware of their responsibilities. Or, maybe going through the new “How to Rent” handbook that outlines what tenants will be held accountable for when their contract comes to an end.
Filling Knowledge Gaps
Regarding landlords, agents typically need to provide education on the legal side of things. With a growing number of people investing in buy-to-let property, it is increasingly important that these new landlords are fully aware of their obligations. For instance, September research from Shelter and British Gas revealed more than half of landlords were unaware of the fact new laws concerning smoke and carbon monoxide alarms were set to come into force less than a month down the line.
To prevent problems from occurring, it often falls on letting agents to fill these gaps in a landlord's knowledge. And, as more first-time landlords look to take advantage of the thriving PRS, this aspect of an agent's job will become all the more important.
Keeping on Top of Things
Educating tenants and landlords is a key factor for a letting agent’s success. However, it can be time consuming and of course agents have plenty of other work to be getting on with. One of the best ways to ensure your agency is on top of its workload and has time for everything is to utilise letting agent software that is designed with the everyday needs of your business in mind. You might be surprised at the difference this can make. Contact Rentman to find out more.
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