No two managing agents are the same, and their terms of business will be as particular to them as the people who work there.

So when you're choosing between managing agents in the Wilton and Salisbury area, it's a good idea to have a checklist of what to look out for so you can make the right choice for you and your rental property.

With that in mind, we've put together this guide to managing agent terms to help you avoid unwanted surprises by answering questions like:

Who’s responsible for your property while it's empty?

What do letting-only fees cover?

What is a rent-collection service?

What does full management include?

What happens if you cancel or switch agents?

These are considerations for every landlord, and by understanding the who, what, and when of different managing agent terms, you can make a wise and informed choice that works for you.

WHO’S RESPONSIBLE FOR YOUR PROPERTY WHILE IT’S EMPTY?

Given that let-only fees are purely for finding a tenant, and that management fees are only paid while there’s an active tenancy, neither service covers a vacant rental home.

So what are your options?

Ask the agents you speak to whether they have an empty property management service, what it includes, and what it costs, so you can compare like for like.

If an agent is liaising with contractors for you as part of a refurbishment and charging a percentage of the cost of the works, check whether their fee also includes check-up visits.

Review your insurance policy for any conditions around regular inspections while your property is vacant to keep your cover valid, and whether you can arrange that with an agent.

Managing an empty property is different to when it's occupied, and clarifying the responsibility early prevents your property from sitting neglected, uninsured, and at unnecessary risk.

WHAT DO LETTING-ONLY FEES COVER?

Letting-only (or tenant-find) fees are essentially for the ‘matchmaking’ part of a tenancy to secure and vet a suitable tenant for your property. They typically include:

Photography, advertising on the property portals, dealing with enquiries, hosting viewings, and negotiating offers.

Handling the logistics of the referencing procedure, which usually includes a credit report, employment status, monthly income, and bank statements analysis.

Drawing up the tenancy agreement, ensuring all mandatory factsheets and safety certificates are with the tenants by the check-in date, and receiving the first month's rent and security deposit.

Organising an inventory if you don’t already have one prepared, and getting it signed off by the tenants so it forms part of the tenancy agreement.

Either transferring the security deposit to you, or registering it in a government-approved scheme within the statutory 30-day deadline and sending you the protection certificate.

The costs for referencing, inventories, and deposit protection are usually listed separately from the agent’s fee, so make sure you check every aspect when comparing their contracts.

WHAT IS A ‘RENT COLLECTION’ SERVICE?

A rent collection service was originally a middle-ground tier for landlords who were happy to handle their own maintenance, but wanted to keep a healthy distance from chasing missed payments.

However, rent collection records have now become a vital legal safeguard and your best defence against the strict requirements of the court system.

To successfully regain mandatory possession, you must prove the rent is at least three months in arrears. A certified statement provides the precise, timestamped evidence that proves this.
Agents use live payment-tracking software that prevents tenants from stalling a case with claims of last-minute transfers, which gives a judge the confidence to make a definitive ruling.
Because it’s linked directly to a bank feed, a validated third-party report carries significantly more weight than a personal spreadsheet with an independent, tamper-proof record.

It shouldn’t be a struggle to prove your case when a tenant stops paying, and using an agent’s rent collection service means your records meet the highest standards to be ready for their day in court.

WHAT DOES FULL MANAGEMENT INCLUDE?

Property management fees generally start at the point a tenant moves in, or from when you instruct a managing agent to take over an existing tenancy. Typically, a full management service includes:

Protecting the deposit on your behalf, then collecting the rent each month and chasing up any arrears.

Carrying out interim inspections at least every six months to ensure the tenant is caring for your property correctly and to spot and rectify any maintenance issues early.

Be the point of contact for your tenants whenever problems arise, from repair and maintenance reports to nuisance behaviour to financial difficulties.

Ensuring that your property keeps up with evolving legislation throughout the tenancy, from safety certificates and EPCs to tightening rules around energy efficiency and liveability.

Full management allows you to be about as hands-off as possible, with your agent taking the lead in keeping you within the law and free of fines, without you having to stay on top of legal changes.

WHAT HAPPENS IF YOU CANCEL OR SWITCH AGENTS?

The exit clause is perhaps the most overlooked part of any agency agreement, but you need to know what happens if you want to end your contract with them.

As there are no longer fixed-term tenancies, renewal fees are null and void. So you can step away without the obligation of paying repeat fees to your old agent.

Switching managing agents is normally just a matter of giving whatever notice is required in your contract. Your new agent will write to your tenants with details of the change.

For security deposits held in custodial schemes, the old agent transfers the responsibility to the new one. Those held directly by agents are transferred to their replacement or back to you.

It shouldn’t be difficult for you to cancel your contract with a managing agent when the service you were promised doesn’t materialise, so check the terms before signing to be sure you’re not unfairly trapped.

What’s next for you?

We know you have a choice of managing agents in the Wilton and Salisbury area, and we believe in partnerships with total transparency that make your life easier, without hidden costs or confusing jargon.

If you’d like us to review your current managing agent terms or help you get more from your rental property, call us on 01722 580059 or message us at info@piccoloproperty.co.uk - we’re always here for a chat.