5 steps to ... appointing a letting agent

Stuart Watson, Regeneration & Renewal, 25 July 2008

"If they are a member, they will carry insurance and comply with a strict code of conduct," says Rics associate director Paul Bagust.

2. Make sure your agent follows best practice. The code for leasing business premises, for example, sets out Rics' best practice in negotiating leases, and should ensure that both landlords and tenants avoid the potential pitfalls of the leasing process.

3. Appoint an agent who shares your vision. "A lot of agents just want to let to companies with good covenants (a measure of the company's financial solidity) and get their fee," warns Mark Ryder, chief executive of public-private partnership Isis Waterside Regeneration. "You have to make sure your agent buys into your (development) vision. We want to create distinctive and interesting places, not just let to Starbucks and Tesco, so the agent needs to understand what kind of tenants are required to make the scheme a success."

4. Ensure you use the right people. "Look at the experience of the individuals doing the work, rather than the experience of the company," advises Stuart Kirkwood, development director at regional development agency Advantage West Midlands. "Not every surveyor within a good practice is of equal value."

5. Use local knowledge. Investors in a project may feel more comfortable with a big-name national agent. However, if a landlord or developer is looking to attract businesses from the surrounding area, then local knowledge will be vital and it may be wise to appoint both local and national practices.

- More information Rics can provide a list of qualified surveyors in your area: www.rics.org or 0870 331 600. A similar service for residential agents is available at www.naea.co.uk.