The Role of a Letting Agent

Question 1

A letting agent manages the relationship and interaction between…

Answer 1

…landlords and tenants.

Question 2

Why do landlords often prefer to go through a letting agent? (4)

Answer 2

1.) To save time
2.) To benefit from marketing facilities
3.) Legal knowledge
4.) Credit checking services

Question 3

Why does going through a letting agent save landlords time?

Answer 3

The agent collects rents and handles repairs.

Question 4

Letting agents offer services such as ________ for compliance with regulation.

Answer 4

Guidance.

Question 5

Letting agents offer services such as mar______.

Answer 5

Marketing.

Question 6

Letting agents offer services such as _______ the property.

Answer 6

Showing.

Question 7

Letting agents offer services such as guidance on the ____.

Answer 7

Rent.

Question 8

Letting agents offer services such as ______ credit and reference checking.

Answer 8

Tenant.

Question 9

Tenant credit checking?

Answer 9

Checking if a potential tenant has had problems with paying bills in the past.

Question 10

Letting agents offer services such as listing the _________ and checking it.

Answer 10

Inventory.

Question 11

Letting agents offer services such as doc__________.

Answer 11

Documentation.

Question 12

Letting agents offer services such as rent __________.

Answer 12

Collection.

Question 13

Letting agents offer services such as re_____.

Answer 13

Repairs.

Question 14

Letting agents offer services such as checks ______ and at the ___ of tenancy.

Answer 14

• During
• End

Question 15

The letting agent’s services are typically three options…

Answer 15

1.) Let only
2.) Let plus rent collection
3.) Full management

Question 16

Let only?

Answer 16

Finding tenants.

Question 17

Fully managed properties provide the agent with a ______ _______ ______, with rents generally collected monthly in advance. The agent takes a fee before passing the money to the landlord.

Answer 17

Stable monthly income.