There are a number of letting agents in Nottingham. Their services and their prices, to tenants and to landlords, vary a great deal. With Nottingham’s size, it may be worth wondering: who really uses all these letting agents? An individual might even wonder, could I benefit from all of these businesses? But there are definite benefits provided by letting agents, to all parties involved. So who really uses letting agents in Nottingham?
- Tenants who are looking for a place to stay that’s affordable but still meets their needs.
Nottingham is a mid-sized city with several major neighbourhoods, and each offers its own different services. 2018 statistics from Nottingham Trent University indicate that student rental prices in Radford, the most popular neighbourhood, are 5% to 10% more than Sherwood or Forest Fields. Students, couples and families alike may want to live in a specific neighbourhood but finding a place that they can afford and with the features they want is sometimes challenging. A letting agent can help with this.
- Tenants who are looking for more high-end living options.
Again, letting agents can provide options that may not be publicly posted on websites, in classified, and so forth. Letting agents can also improve the quality of service that tenants receive by directly managing a property from day to day in the landlord’s place. Though not every property a letting agent works with will do this, letting agents are known professionals, and a choosier tenant may appreciate having their rental drawn from a selected pool and even partly provided by a professional.
- Landlords who want to expand their pool of tenants.
As explained above, some tenants may prefer a letting agent, either so that they can find more affordable options or so that they can find outright better ones. This means that a letting agent provides landlords with access to potential tenants they may not otherwise have. One of the primary services of a letting agent is to find tenants for a landlord, and most letting agents in Nottingham are very well practiced at this.
- Landlords who want an additional party to help manage the landlord-tenant relationship.
Finally, letting agents can help make the application process for a property much faster on both ends: letting agents can perform credit checks, look over paperwork and identification, collect fees and even collect rent in some cases. This saves the landlord a valuable resource: time.
In summary, whether one is looking for a simple home or for a luxury rental, and whether one is a prospective tenant or a current landlord, there reasons to use a letting agent. The fact that letting agents can do good business, even with competitors, in a mid-sized city like Nottingham shows that there’s a market for these services. Anyone looking to rent out their space, to rent a new place to live, or even to move to Nottingham for the first time, might find help from a letting agent.