Hi, I'm renting out a property for the first time and my agent has requested me to sign an agent authorization letter. Can I ask what is the purpose of this letter and is there any pros and cons of signing it.

It is an agreement to let your agent act on your behalf, no need each time need make decision contact you for approval

to authorize the agent to keep a set of key (usually)

so that they are authorized to let prospective tenants to view the unit without needing to get the key from you each time there is a prospect.

they definitely cannot decide on the tenant, rental rate, or T&C of the tenancy on your behalf. The decision maker would still be you.

as for cons..agent got your key lor. u dont know what they do inside.

anyway my two cents.. usually hardworking / hungry agents wouldn't have time to mess about in your unit and would rather use their time to close deals and get more $$

Thank you all very much for the clarifications.