Dual Agency – is it really the best way to rent out your property?

23 02 2011

Hi All,
We thought to share with you the pros and cons of going Dual Agency when you are looking to rent out your property.

We are seeing an increase of landlords that appoint several estate agencies at the same time to rent  out their properties. Although you are indeed maximising your chances of renting out your property quicker, you are also giving the tenant/s the decision behind whom will be your property management agency. Your property is your investment, your biggest asset. Do you want to give the tenants the decision behind who will be managing your property, your investments? Or do you want to be the one making that decision?

Over 90% of rent enquiries come from Rightmove.com. If someone is looking to rent a property that is advertised by multiple agencies, the enquirer’s decision behind which agency to contact could probably be anything from he/she

  • likes the name or logo of the estate agency (he/she may prefer Red over Green coloured logos)
  • a completely random choice with no decision behind (A ‘eni mini miny mo’ approach)
  • may not wish to contact an established national agency. If they are tenants with a history of late rent payment, arrears or bad tenancy history, then they may fear that they will not get away with much with a big national company…..

In summary, if you are going to use various letting agencies to advertise and rent out your property, make sure to appoint a suitable letting and property management agent.

We, Belvoir Stoke-on-Trent, are not just a letting agent. We are a Property Investment Management company. We manage the assets of our landlords. Rent out a property is only a small part of what we do!

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