As a landlord looking for a letting agent in Leeds, it's important to choose the right one to ensure your investment is in the right hands. However, not all letting agents are created equal. Here are some red flags to look out for before choosing a student letting agent in Leeds:
1. Lack of experience in managing HMO properties
When renting with friends, students tend to occupy HMO properties. This means there are more health and safety considerations, legislation and penalties to be aware of. Not just for the agent, but for landlords too. It's important to choose a letting agent in Leeds with experience in managing HMO properties and understanding the implications of Article 4 directive if applicable in the town or city.
2. Students aren't their main target tenants
The student market in Leeds is very different from private renting. Letting and academic cycles, types of contracts, and offering utilities in the rent are just some of the key differences. It's also a time-sensitive market where if you miss the boat, you could be left with empty property for a year. Therefore, it's important to use a student letting agent in Leeds who is familiar with renting to students and has experience in this field.
3. They only advertise on Rightmove
While students do look at Rightmove, that's not where the best enquiries and leads come from. It's important to choose a student letting agent in Leeds who has a good relationship with the local universities, a website that ranks well in Google for popular student-related keywords, and who advertises on the relevant student advertising channels.
By doing your due diligence on these three important issues, you should save yourself a lot of headaches in the future. When choosing a student letting agent in Leeds, look for experience in managing HMO properties, familiarity with renting to students, and a wide range of advertising channels to maximize your rental income.