Changing Letting Agents: How to Make the Switch

01/02/2023

How to change letting agent for your property

Are you a landlord, who’s feeling underwhelmed by the service you’re receiving from you letting agent? You might be surprised to learn that switching agents is easier than you think.

Many landlords put up with substandard service from their letting agents – whether poor communication, lack of action finding tenants, unsatisfactory repairs or missing rent payments. They do so out of loyalty, because they think changing agents will mean hassle, or because they’re not sure whether they can make the change.

If you’re dithering about switching letting agents, remember that your property is a prime asset. Your agent is making money from your rental project and in return you deserve the best service. Remember too that changing agents can be done simply and quickly in most cases – often without you having to lift a finger.

Why switch letting agents?

There are plenty of reasons to consider a switch depending on your circumstances. For example:

Fee increases – if you agent has put up their fees – and you’re not sure you were getting your money’s worth in the first place.
If you’re struggling to find a tenant, despite your property being well-located, nicely decorated and in a high-demand area. Maybe your agent’s team aren’t pulling their weight.
Bad service – whether failing to return your calls or a lack of courtesy when dealing with your queries, poor service is one of the main reasons landlords give for looking elsewhere.

How to change letting agents

1. Check your contract

Most landlords can move agents without too much difficulty, but you need to check your contract. You may have signed up to an initial six or 12-month period, during which you can’t change without penalties. The terms of your contract may also depend on whether yours is a let-only or a managed service – if you only signed up for a tenant finding service rather than a fully-managed one, you are less likely to be tied in for a long period.

Also determine the termination period – how much notice you will need to give your agent before you move.

2. Find a new letting agent

If you haven’t already done so, now is the time to shop around for a new agent. Look at fees, but don’t base your decision on this alone:

Talk to letting agents working in your area, ask plenty of questions to find out how good they are at sourcing tenants and managing properties.
Get a feel whether you can build a good professional relationship.
Read reviews and testimonials and ask for personal recommendations.
Find a new letting agent before you leave your old one as they may manage the switchover process for you.
In Wales, letting agents must be licenced with Rent Smart Wales – so check this before you switch.

3. Give notice

You need to give your letting agent written notice that you intent to terminate the contract. If you are moving agents midway through a tenancy, you should let your tenant know about the change at this stage. Obtain their contact details from the agent, if you don’t have them already.

It is important to have all your paperwork in order, so make sure you get confirmation of the termination of contract from your agent before you proceed, including details of and receipts for any exit fees.

4. Collect keys and paperwork

Arrange to collect the keys or have them handed to your new agent. Make sure you collect all the paperwork relating to the property from your agent, including the energy performance certificate, gas and electrical safety documentation, inventory, tenancy agreement and deposit protection details.

Remember your tenant’s deposit must be kept in a Scottish government-approved scheme. If the deposit was registered with your agent, make sure it is transferred to your name or that of your new agent.

5. Create a new tenancy agreement

If you are transferring to a new agent during an existing tenancy, you’ll need to create updated tenancy agreement. To minimise disruption to your tenants, try to avoid changing the terms of the agreement at this stage

Can you change letting agent mid tenancy?

Yes, the tenancy agreement is between you as landlord and the tenant. The letting agent manages the property, so it should make no difference, but always check your contract first.

How easy is it to change letting agents?

It is usually very simple as most letting agents will take on the work involved for you – meaning all you need to do is give notice and choose your new agent.

How do I find a letting agent?

As we’ve said, do your research, read reviews and testimonials and contact a few agents to find out what they can offer you. We at Smart Lettings would be delighted to talk to you about our services for Landlords.

How do I switch to Smart Lettings?

At Smart Lettings we offer a letting agent switching service. This means that we’ll minimise the work you need to do – and the stress. Schedule a call for a brief consultation and we’ll tell you more.