Online "letting agents/property managers"

[joyless lobotomised parrot]

Are these some kind of joke?

I think what they may be is "online marketeers for property to let - who can also act as commissioned introducers for some of the services landlords need", but is this 'letting agency/property management'?

One of the busiest desks at a proper agency is the 'repairs&maintenance' desk. Taking in tenants/councils/3rd parties report of defect etc and allocating work to an in house team or selected known local tradesmen. Some requiring immediate emergency attention.

How does that work online?

My experience of property management agency was that it wasn't possible to offer an effective service to any property outwith, say, a 30 mile radius. Unrealistic to expect the direct hands-on stuff to be dealt with effectively. So how the hell is it possible to manage property in eg. London from an office in eg. Edinburgh at all, never mind do it online with no physical presence.

How can they possibly be operating with legal compliance?

Edited by joyless lobotomised parrot on Friday 10th August 13:59

[Lopey]

I don't see the issue. Tenant phones management company and tells them that there is a leaking tap, management company phones local plumber to go fix it.

What difference does it make whether the managing agent is around the corner or in another city?

[2Btoo]

Lopey said:

I don't see the issue. Tenant phones management company and tells them that there is a leaking tap, management company phones local plumber to go fix it.

What difference does it make whether the managing agent is around the corner or in another city?

Broadly yes. Although there's more to it than that.

1. Tenant says there is a leaking tap. Agent should go and have a look before instructing plumber
2. Agent should have list of local reliable tradespeople to talk to (although such a list could be built up at a distance)
3. Agent should inspect the work of the plumber once complete before paying the bill and/or passing it on to the landlord

Points 1 and 3 are harder the further away the agent is from the property.

[joyless lobotomised parrot]

Lopey said:

I don't see the issue. Tenant phones management company and tells them that there is a leaking tap, management company phones local plumber to go fix it.

What difference does it make whether the managing agent is around the corner or in another city?

Tenant phones? You'll be lucky. Do these online agents actually HAVE phones? And if they do, do they have constantly updating lists of every service in every village town and city based on quality/service/price, assuming they haven't any in-house service of guaranteed price/quality reliability which might be a bit of a task if the job's 300 miles away.

What does it matter?

Hmmm

Owners get kind of shirty when you run them up a Pimlico Plumbers size of bill rather than the fast reliable local guy who has a volume discount arrangement with the local letting agent. They don't employ management agents to phone yellow pages when trades work's needed.

I think the way they actually deal with maintenance in reality is by making that a service they don't offer. That'll be fun when accreditation/registration is obligatory (as it is now in Scotland).

I don't think they even visit the properties they take on to manage. Can't see how they do periodic inspections either. Or 100 other things which real letting agent/property managers do.

What do they do when the council/utility company/police etc etc want in, the owner lives abroad, and the property's unoccupied?

[Bumblebee7]

Biggest thing for me is the local agent/property manager can hold keys for me. I live 300 miles away from the properties I rent out and this in itself is essential. Sure I could have a key safe but it's a lot safer to have someone known to the agent arrive at their office and sign the keys out than it is for someone you don't know letting themselves in to your property at will.

Inspections are also important, my agent does these for me quarterly and is really important to ensure tenants look after the property and that action can be taken if they're not.

[Lopey]

joyless lobotomised parrot said:

Tenant phones? You'll be lucky. Do these online agents actually HAVE phones? And if they do, do they have constantly updating lists of every service in every village town and city based on quality/service/price, assuming they haven't any in-house service of guaranteed price/quality reliability which might be a bit of a task if the job's 300 miles away.

What does it matter?

Hmmm

Owners get kind of shirty when you run them up a Pimlico Plumbers size of bill rather than the fast reliable local guy who has a volume discount arrangement with the local letting agent. They don't employ management agents to phone yellow pages when trades work's needed.

I think the way they actually deal with maintenance in reality is by making that a service they don't offer. That'll be fun when accreditation/registration is obligatory (as it is now in Scotland).

I don't think they even visit the properties they take on to manage. Can't see how they do periodic inspections either. Or 100 other things which real letting agent/property managers do.

What do they do when the council/utility company/police etc etc want in, the owner lives abroad, and the property's unoccupied?

We're talking about letting agents here. You get a few good ones but mostly poor ones. Just because an agent may be based around the corner to a property does not mean that a) they will use local tradespeople, b) that they will look to offer value for money, c) that they will actually visit the property either for faults or inspections, etc, etc.

Edit: at least with an online agent, you know you aren't getting some of those services. I know of a few "local" agents who quite happily charge for inspections when they don't actually leave their office.

Edited by Lopey on Friday 10th August 15:02

[2Btoo]

Lopey said:

We're talking about letting agents here. You get a few good ones but mostly poor ones. Just because an agent may be based around the corner to a property does not mean that a) they will use local tradespeople, b) that they will look to offer value for money, c) that they will actually visit the property either for faults or inspections, etc, etc.

Edit: at least with an online agent, you know you aren't getting some of those services. I know of a few "local" agents who quite happily charge for inspections when they don't actually leave their office.

Sounds like this is turning into a more general dig at letting agents.

[joyless lobotomised parrot]

Lopey said:

We're talking about letting agents here. You get a few good ones but mostly poor ones. Just because an agent may be based around the corner to a property does not mean that a) they will use local tradespeople, b) that they will look to offer value for money, c) that they will actually visit the property either for faults or inspections, etc, etc.

Edit: at least with an online agent, you know you aren't getting some of those services. I know of a few "local" agents who quite happily charge for inspections when they don't actually leave their office.

Edited by Lopey on Friday 10th August 15:02

The game's changed a lot in Scotland now. On 1st October it becomes a criminal offence NOT to be on the Letting Agent Register. And to get on it they have to be accredited (or equivalent). And to get accredited they have to be qualified. And to be qualified they have to pass tests. Not a million miles away from the requirements for financial advisers and similar sort of standard of testing.

So it's bye bye cowboys.

Unfortunately online agents won't be able to pass the accreditation/registration hurdles without adhering to its conditions which include the maintenance of property up to The Repairing Standard (another piece of legislation). Same will apply with reference to other basic services they don't supply.

They'll have to set up a separate register. Maybe call it the "It's Letting Jim, but not as you know it" Register. For letting agents who don't actually supply letting agent services.