Helping agents help you

Should the letting agent also manage the property? Do you live nearby? Do you want to be called out in the evening and weekends? Is the property of sentimental value? How's your budget?
   How much should they charge? Just the letting fee? For the year one only? For years one to three?
How much are they doing for you? Are they charging an annual fee with unlimited callouts covered? Or a maximum of three callouts? Or three per month - average. Or three in any one month? Or a management fee just for adding your name to their list and doing nothing, then a fee for every callout?

How much should you pay?
   10% 8% 6%. Nothing when the contract is renewed? The same charge every year? Or half for the second year. Another landlord might complain - 'what for - they have done no more work!'
Are they charging for renewal and also charging charge for renegotiating the contract? On the other hand you have a second year's rental, no hassle. Half the first year's fee. Compare with other agents. Negotiate.
   Is the money to the agent spread over the months, or do they take the first month's rent? Can you afford this - first month with no rent. How's your cash flow? What if the tenant moves out after two months and the agency goes out of business?

Should you give your keys to the letting agent?
   Is it safe to do so? How easy will it be to get a key back, if they are not managing or another agent lets the property. (With one agent still holding a key, you might need to have the lock changed and only get two new sets of keys, for about £150 - plus the cost of every extra set off keys. What does the insurance company say? Will the building insurance or management association allow various tenants to have keys. One agent will complain that the first agent would not give them the key, with the reason/excuse that their member of staff was out for the day showing tenants around properties.
More answers soon!

Useful Websites

https://www.propertymark.co.uk/