When it comes to managing properties, there are many options available, which can become quite confusing.
When landlords come to us, a common question they ask us is: ‘What’s the difference between a letting agent and an estate agent?’
There is a huge difference in the two types of agent – each with their own uses and benefits.
Keep reading to learn about the key differences between a letting agent and an estate agent.
What is an estate agent?
An estate agent is someone who is responsible for buying and selling property on your behalf.
They will organise viewings and assist with finalising the sale.
You need an estate agent if…
…you are buying a house or flat, or putting one up for sale.
Many landlords use an estate agent if they’re looking to build their portfolio but are struggling to find the property they’re looking for.
Similarly, if landlords are looking to sell one of their rental properties, an estate agent will have the knowledge and expertise to market the place effectively and guarantee a sale.
An estate agent will be able to give you their professional advice, and market your property in a way that sparks the interest of potential buyers.
In turn, this gives you the opportunity to reach your goals in a safe way, with someone on hand to answer your questions and guide you through the process.
Benefits of using an estate agent
If you’re a landlord looking to buy or sell a property, an estate agent can make the process a whole lot easier.
With just one payment, an estate agent will:
- Market the property on a channel of your choice
- Organise and conduct viewings
- Negotiate terms of offers
- Support you through the process, offering advice along the way
- Provide a property valuation and marketing price
Investing in an estate agent during the buy and sell process limits the risk of anything going wrong, and ensures you get the best possible deal.
What is a letting agent?
A letting agent is someone who assists a landlord with the upkeep of a property.
Depending on the service you choose, letting agents can organise viewings, collect rent, and ensure the property is being looked after correctly by the tenants.
You need a letting agent if…
You are a landlord in need of an extra pair of hands.
Both new and experienced landlords utilise letting agents, as it gives them more opportunities to build trusting relationships with tenants and expand their property portfolio.
Benefits of using a letting agent
The main benefit of using a letting agent is the time it can save you as a landlord.
Letting agents will maintain the standards of the property and take care of any paperwork on your behalf.
Here at EasyLet Residential, we offer two packages – ‘Let Only’ and ‘Full Management’.
Our ‘let only’ service provides you with a letting agent who can assist viewings, organise tenancies, and conduct any relevant checks for you. This gives you the chance to maintain a good relationship with your tenants and keep outgoings to a minimum.
Our ‘full management’ package, however, takes care of everything – including repairs and rent payments. If you don’t have the resources to organise the administrative side of being a landlord, or simply don’t have time to, this is the solution for you.
Utilising a letting agent allows you to build on your current property portfolio and secure your place in the world of property management.
How to get a letting agent
When you’re on the hunt for someone to help you with your properties, it’s vital you go to a company you can trust – and most importantly, a company that knows what they’re doing.
Here at EasyLet Residential, we supply experienced and approachable letting agents to landlords in the North-West.
If you want to get started with a letting agent, get in touch today, and watch your property portfolio grow.
You can give us a call on 01925 633011, or pop into our Warrington office to chat through your options directly and learn more about what a letting agent can do for you.
Frequently Asked Questions
You don’t need to use a letting agent if you’re planning to rent out your property – but it can make everything a lot easier.
Everything from finding new tenants to managing your properties day-to-day takes a lot of time and work, and it’s worse if you’re still working full-time.
Can you really take time away from your day job to call an emergency plumber?
A letting agent takes all this work away.
With a letting agent dealing with tenants, you can spend more time building your property portfolio or relax while you wait for your rent to be paid.
Here at Easylet, we’re experienced letting agents. We know what we’re doing. And, most importantly, we want to help you get the most out of your property portfolio.
Here at Easylet, we offer both full management and let only packages.
Let only service
A let only service is limited to just finding new tenants for your property.
This service requires a one-off payment and as a part of this service we will:
Full management
A full management package involves finding tenants, and then managing your property day-to-day, including dealing with everything from maintenance requests to evictions.
For this service, you’ll pay a proportion of your rental income on an ongoing basis.
As well as everything included in a let only service, we also:
To find out more about our letting agent services, get in touch.
The cost of a letting agent depends on where you’re based in the country, as well as the package you choose.
Typically for a let only service, you can expect to pay the equivalent of 2-4 weeks rent.
Full management services are typically charged on a monthly basis. Here at Easylet, for example, we charge around 7% of the rental income you receive per calendar month +VAT.
Your tenants pay their rent directly to us. We then deduct any agreed expenses and fees before sending the remaining money to you.
We offer a multiple property discount, perfect if you’ve got a larger property portfolio.
To find out more about our letting agent services in Warrington, get in touch today.
Here at Easylet, we have years of experience under our belt.
Our team is made up of enthusiastic individuals, each ready and waiting to assist you with your rental property.
We always put your priorities first, making sure your experience with us is as straightforward as possible.
Say goodbye to endless paperwork and legwork – we’ll take care of it all.
From marketing your property to managing your tenants’ monthly payments, we’re able to be as involved as you’d like us to be, taking the stress away from you.
Whether you have one property or multiple properties across the area, we’re able to take over the day-to-day running of these rentals, allowing you to focus your time and effort in other areas.
Our prices are extremely competitive, starting at just £499+VAT for our let only service and 7% of your monthly rental income for our full management service.
