Should I rent from a Managing Agent?

Renting from a Managing Agent

Every year many students use managing agents to look for their accommodation. There are a number of reasons why students do this including; an attractive office promoting an air of professionalism, ability to see lots of properties quickly, accompanied viewings offered and friends may have used the agency before. In addition there are often lots of similar agencies close together so you can compare properties between agencies.

This all sounds very positive are there any potential disadvantages?

Let only service

Many agencies offer a let only service, which for you means the agency will not have any responsibilities to you once the property is let. In this case it is vital that you ask who the actual landlord is so you can get the contract checked and find out if the landlord is part of the Unipol Code. Your student union can check your contract and let you know if they are aware of any problems with the landlord. The Unipol website will tell you if the landlord is signed up to the Code. Just check in the list of Current Members of the Unipol Code.

Accompanied viewings

Although accompanied viewings are often a good thing you should try and take the opportunity to talk to the current tenants privately about the property and their experiences of dealing with the landlord or agency. Good agencies and private landlords for that matter, should be happy to give you the freedom to do this.

 Sign up fees and deposits

Many agencies do charge sign up fees for setting up the contract. Make sure you are happy with paying any fees before you commit to taking the property, as these can be considerable. Many landlords who advertise with Unipol do not ask students to pay these additional fees or keep them as low as possible.

Some agencies do not charge deposits but instead charge higher sign up fees.  The main advantage of this is that this fee is often lower than paying a deposit and is therefore less money to find at the time of signing for your new property.  The disadvantage is that you will not get this money back.  If you pay a deposit you will get this money returned as long as you return the property in a good condition.  Agents and landlords that take a deposit are now obliged to place the money in a government approved scheme that safeguards your deposit.  We have lots of information on our website on deposits and the Tenancy Deposit Scheme.

 Supporter of the Unipol Code Scheme

Unipol has launched a special code especially for Managing Agents, where they can become Supporters of the Unipol Code.

Supporters are NOT FULL MEMBERS of The Unipol Code but they have signed a protocol agreeing to promote Code membership to individual landlords they are managing on behalf of, and whose properties comply with The Unipol Code. They have also agreed to advertise properties that they have had verified separately from non-code properties within their agencies.

If the agency has joined the scheme they will be able to show you a certificate of membership and will be displaying window stickers, further indicating their membership.  You can check the Unipol list of Current Supporters of the Unipol Code.

Please remember that you should still check the name of the owner of the property to see if the property is covered by the Unipol Code.  If the property is not covered please check with your student union to see if they can give you any information on the landlord.  Good agencies and landlords will always encourage you to get your contract checked and will give you time to do this.  Contact your Student Union now for more information.

If you would like more information on the protocol which we ask Managing Agents to sign please click here.