Professionals or pretenders
Landlords are always encouraged to use an established letting agent who is a member of ARLA (Association of Residential Letting Agents), the professional body which regulates the lettings industry.
Why is this so important? Well firstly as part of their membership an agent must adhere to a strict code of professional conduct.
Secondly, if for any reason the agent were to cease trading then any rent or deposits paid to them are automatically protected under a bonded scheme. It’s very similar to using an ABTA agent within the travel industry and means that in such circumstances a landlord would not lose out financially.
As a member firm of ARLA, Graham Butt is a regulated letting agent. Unfortunately many other local agents are not affiliated in any way to ARLA. Being an unregulated agent means they cannot be held responsible for their actions nor provide any guarantees in terms of any rent or deposits which may be paid to them.
Making the wrong choice of letting agent could prove to be an expensive mistake!