What is the difference between Letting Agent and a Managing Agent

[red40]

A Letting Agent and a Managing Agent?

I can find the relevant professional bodies home pages but only the ARMA gives what a managing agent is, there is nothing about what a letting agent is on the ARLA site.

[Bel]

IMHO

I would say a letting agent markets property for rent and introduces vetted tenants to landlords, and possibly manages the tenanted property if required.

And a managing agent gets most business from managing tenanted property (instructing maintenance etc), including managing the freeholders obligations, say in a block of leasehold flats.

I dare say there is overlap between the two.

[red40]

In response to the same question I asked ARLA, I received the answer:-

The manageing agent is responsibe for the common areas of a property and usually the insurance aspects of the block.
A letting agent is responsible for only the proeprty which they are letting out.

[Brigitte]

Yes I would agree with the ARLA definition. Although I am a letting agent and manage properties as well, I only manage the individual properties on behalf of the landlord. Letting agents do what the landlord would have had to do themselves, if they had the time. Managing agents would be manage the common areas and the structure of whole blocks of flats.