A new or first-time let and re-lets typically involve administrative decision-making and settlement processes (strategy and analysis, decision, implementation and monitoring):
- Letting strategy
- Analysis of potential user groups
- Naming the property
- Positioning the property
- Defining target tenants
- Creation of an efficient letting team
- In-house staff
- Appointment of a local letting agent
- Appointment of a local asset manager
- In-house staff
- Advantages
- High level of identification
- No conflicts of interest
- Disadvantages
- Minimum occupancy rate
- Local approach
- Advantages
- Letting agent
- Advantages
- Agent as a clearly identifiable contact person
- Incentive or mobilisation of the agent
- Disadvantages
- Negligible competitive pressure
- Low-profile market presence of the property depending on the agent
- Advantages
- Asset manager
- Advantages
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- Cooperation with all agents
- Option of assuming an asset management role
- Disadvantages
- Often no direct access to prospective tenants
- Additional costs
- Role of the letting agent
- Exclusive mandates are the rule rather than the exception in Switzerland
- Guarantee
- Good marketing brochures
- Short response times
- Swift decision-making processes
- Type of property
- Property with unique selling point?
- Property without unique selling point?
- Fair dealing between investor and letting agent and vice versa
- Controlling
- Monthly reporting
- Documentation of rental agreements concluded or amended
- Administration
- Marketing measures
- Model office
- Homepage with webcam
- Marketing posters
- Letting advertisements
- Mailings
- Presentation of property / letting events
- Tenant incentive scheme
- Type of remuneration
- Time-based fee?
- Success-based fee?
- Combination?
