Estate Agency FAQ's
If you're a real estate agency, we can help you and your customers out with our short term letting services. Have a read through the below, or get in touch with further questions.
Which properties can Lettsgetsmart benefit?
We have been instructed on three types of property:
i) where the property is already unoccupied but is for sale. The owner wants income whilst the sale process proceeds.
ii) Where the property is let and the owner wants to give notice to along term tenant in order to have greater flexibility for sale.
iii) the owner is resident intermittently in the property and wants to sell it.
How do we benefit estate agencies:
A) Lettsgetsmart is a service for your clients, which sets you apart from other agents
B) We provide the owners with income during the sale process
C) We pay a proprtion of our fee to the agencies.
Can we let unfurnished properties?
We will furnish them in order to let them. This can be done by a rental of the furniture and equipment or Lettsgetsmart will pay the cost and deduct it from initial rentals.
What is the relationship between the owner and Lettsgetsmart and the estate agency?
Lettsgetsmart has a contract with the owner, is responsible for all the letting and management. Income is paid direct to the owner from the guests. Lettsgetsmart contract to pay the fees to the agency, which has no responsibility for the performance of Lettsgetsmart. The agreement has no time limit; the owners can cancel at any time, subject only to any forward cancellation fees for guests. Lettsgetsmart will accept the owners instructions on periods of letting availability. Lettsgetsmart do not have to have direct contact with the owner. This can be managed via the agency.
What do we pay the agency?
Lettgetsmart charges 20% the first three months, and 15% thereafter. Of this 7.5% is paid to the agency for the first three months and 5% thereafter.
Do the owner and the agency have access to the property whilst it is let?
Yes; Lettsgetsmart inform all guests that the property is for sale and that the agency has the right (with reasonable notice and at reasonable times) to bring prospective buyers for viewings.
Can we be sure that the properties will be well presented for viewings?
Guests can be informed of this requirement. The record so far is good as can be demonstrated from the references.
What is the time scale for income earning?
Lettsgetsmart aim to have income in the owners’ hands within a few days of instruction or first permitted occupation. The longest period so far has been no more than a week and some have been earning within 3 days.