{"id":9479,"date":"2024-10-07T08:57:08","date_gmt":"2024-10-07T08:57:08","guid":{"rendered":"https:\/\/www.citylets.co.uk\/blog\/?p=9479"},"modified":"2024-10-08T09:14:22","modified_gmt":"2024-10-08T09:14:22","slug":"property-manager-or-letting-agent-a-clear-guide-to-who-does-what","status":"publish","type":"post","link":"https:\/\/www.citylets.co.uk\/blog\/property-manager-or-letting-agent-a-clear-guide-to-who-does-what\/","title":{"rendered":"Property Manager or Letting Agent? A Clear Guide to Who Does What"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Source: <\/span>(pexels.com)<\/span><\/a><\/p>\n

More and more people are looking for a place to rent. According to the Scottish government, the number of houses being privately rented has tripled<\/a> since the turn of the century.<\/p>\n

If you\u2019re one of these people looking for a place to rent, then you\u2019ve likely run across letting agents and property managers.<\/p>\n

But what\u2019s the difference? Who should you look for when you\u2019re interested in renting a property?<\/p>\n

There are key differences between the two, and knowing this can help as you look for a new home. We\u2019ll explain everything below.<\/p>\n

What does a letting agent do?<\/h3>\n

The primary role of a letting agent boils down to finding a tenant for the property. They spark the renting process by marketing the property and handling potential tenants.<\/p>\n

Specifically, they perform the following tasks:<\/p>\n

1. Marketing and advertising<\/h4>\n

Letting agents are the ones marketing the property. They\u2019re the ones posting on rental sites, creating local advertising materials, or contacting their network of potential tenants.<\/p>\n

2. Tenant screening<\/h4>\n

Of course, a letting agent won\u2019t just find any<\/em> tenant. They need to find trustworthy ones. They\u2019re the ones conducting background checks, obtaining character references, and ensuring the tenant\u2019s financial capabilities.<\/p>\n

3. Property viewings<\/h4>\n

Letting agents are the ones holding property viewings. They\u2019re the ones scheduling these viewings as well as the ones present with the viewers during them.<\/p>\n

They need to know how to present the property in the best light and how to answer frequently asked questions.<\/p>\n

4. Drafting initial tenancy agreements<\/h4>\n

Once a suitable tenant confirms their interest, the letting agent drafts a tenancy agreement. This agreement must adhere to all Scottish rental laws, so the letting agent must be aware of any relevant legislation.<\/p>\n

5. Handling deposits<\/h4>\n

In Scotland, tenants place their initial deposits into a government-backed tenancy deposit scheme. Letting agents ensure that this process goes smoothly.<\/p>\n

6. Initial inspections and handover<\/h4>\n

Letting agents conduct a final condition report before the tenant moves in. Then, they clarify the exact state of the property to the tenant to set expectations. After that, they hand over the keys to the new tenant.<\/p>\n

Once handed over, the tenancy has officially begun and the letting agent\u2019s role is completed. The ongoing management of the property is now under the role of the property manager.<\/p>\n

What does a property manager do?<\/h3>\n

While letting agents focus on getting a tenant, property managers handle the day-to-day operations of the property and ongoing tenant relations.<\/p>\n

Their key duties include:<\/p>\n

1. Rent collection<\/h4>\n

As a tenant, you\u2019ll mainly see a property manager whenever they\u2019re collecting rent. They collect rent at the agreed-upon dates, handle any missed or late payments, and, if necessary, initiate eviction for non-payors.<\/p>\n

2. Maintenance and repairs<\/h4>\n

Property managers are also in charge of handling maintenance and repairs<\/a>. This includes scheduling routine inspections, responding to tenant questions and complaints, and getting contractors for repairs.<\/p>\n

3. Inspections<\/h4>\n

A big part of property maintenance is routine inspections. Property managers will regularly check for any damages, ensure the tenants are following contract agreements, and identify potential issues within the properties.<\/p>\n

4. Legal compliance<\/h4>\n

Property managers are typically also the landlord\u2019s legal aid. They ensure that the operations of the property remain compliant with all relevant laws. These include things like:<\/p>\n