A good letting agent can help you get the most out of your investment, while you rest easy, knowing everything is being looked after legally and reliably on your behalf. However, as with all investments, buy-to-let is not, and cannot be, risk free, and remarkably, whilst all other areas of investment - from pensions to ISA’s - are regulated to the hilt, the lettings industry still remains unregulated. As a result, disreputable agents do exist, and the consequences of entrusting your property to one of them can be dire. Huge legal expenses, loss of rent, long void periods, loss of your tenant’s deposit and property damage are just some of the many problems that could lie in store for landlords who choose the wrong agent.

“The good news is, you can maximise your chances of enjoying a trouble-free and profitable let, and minimise the risks, by choosing your letting agent wisely,” says Jane Wilkinson, Regional Director of Leaders - the largest independently owned letting specialists in the UK.

Although disreputable agents are in the minority, you should exercise caution. There are a number of vital points to consider when choosing an agent and Leaders, who have been letting property for 21 years, have prepared some guidelines below for landlords and would-be investors.

The first point you should check is that the agent is a member of the Association of Residential Letting Agents (ARLA). You can be confident that an ARLA agent will give trustworthy advice; holds professional indemnity insurance; has a minimum of two years lettings experience; and above all, complies with ARLA’s strict rules on holding deposits and rent safely on your behalf.

Most landlords will naturally be influenced by the agent’s fees, which vary from agent to agent but are generally based on a percentage of the rent. However, Leaders warn landlords to beware of the cheapest option as you get what you pay for in terms of service and professionalism. Says Jane: “It is a good idea to make comparisons between agents by asking for a list of all their charges, exactly what is included, and the total amount that would be payable for your specific tenancy. Make sure there are no hidden charges. Also, you should be wary about choosing an agent just because they offer you the highest potential rental; some less scrupulous agents may exaggerate the figures in order to win your custom, in which case you could lose out on rental income whilst your property remains vacant because it is too highly priced.”

Because the knowledge and expertise of your agent is crucial to every aspect of letting your property - from setting the rent, to finding a suitable tenant and dealing with the administration - it is sensible to choose an agent that specialises in lettings, rather than doing lettings ‘on the side’, and one with many years of experience in the industry. Look out for ARLA trained staff with a good understanding of your local market. “A professional attitude is usually a good sign,” says Jane. “This means polite, friendly and helpful staff; clear and well-presented literature; a well-maintained website; comprehensive marketing and efficient administration.”

When it comes to finding a tenant, a good agent will let your property as quickly as possible by offering widespread and professional marketing, including prominent window display; newspaper advertising, online advertising; leaflets and signboards. Says Jane: “At Leaders, as soon as a property becomes available to let it appears immediately on our website, which receives hundreds of hits a day, and the details of the property are emailed or SMS-texted straight away to any tenants who have expressed an interest in that type of property. Once a prospective tenant has been found, we carry out stringent credit reference checks before offering them tenancy.”

It is essential that you choose an agent who uses Tenancy Agreements that comply with the Housing Act, or contract law if it is a company let and/or a let with a rental value of over £25,000. “An experienced agent will incorporate clauses to cover any potential problem areas that have been encountered in the past, as we do,” says Jane. “The contract should also be written in plain English, be easy to understand and contain no unfair terms or conditions, to comply with the Office of Fair Trading recommendations,” says Jane.

If you are opting for a full management service, choose an agent with a dedicated team of well-trained Property Managers who will look after your property and your tenant professionally and to a high standard. Says Jane: “At Leaders we have an army of highly experienced Property Managers and a database of reliable, efficient and reasonably priced contractors at our disposal to deal with any problems – big or small – as soon as they arise.”

Finally, when it comes to offering buy-to-let advice, the agent you choose should be completely impartial; you should never rely on advice from the agent who is also selling you a property. Whoever is advising you should have an excellent understanding of the buy-to-let market generally and locally, and should be able to advise you on the many important factors involved, such as location; how much to spend; how much rental income to expect; how to prepare your property to rent and present it in the best light; and your legal responsibilities as a landlord.

To search for an ARLA member agent visit www.arla.co.uk