Dangers of franchised agents

The recent police investigation of the collapse of another letting agent highlights the potential risks taken by a landlord when using a franchised letting agent.

To my mind a franchise can be set up by any enthusiastic amateur with a little bit of start up capital.

Would you really want your property managed by an enthusiastic amateur who has no or little professional experience in managing property and quite possibly running a business?

I'm sure there are many competent and well run franchised letting agents, but the recent cases involving Belvoir and Martins & Co highlight the dangers faced by landlords.

On a positive note the franchises in York and Hull were both covered by the National Approved Letting Scheme (NALS) which gives protection to a landlords client monies.

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