Letting agent fees

[Rollin]

I've got an agent coming around tomorrow to assess the rental value of my flat and to tell me their fees. What percentage of the rent is usual for the most hassle free service from these people? Just need to know in case he tries to rip me off.

[Dunc B]

I pay 10%+vat to mine but AFAIK many charge around 11-12%, think i pay 10% mainly because I've been with them for a long time,
HTH

[sunbeam_alpine]

I'm paying 10.5% (plus VAT) to my agent. I looked at 2 others who wanted 10%, but made my choice because these have an insurance for legal costs plus up to 6 months rent if the tenant stops paying. The idea is that we can get a tenant out through the courts in 6 months.

Edited by sunbeam_alpine on Wednesday 15th October 20:48

[Rollin]

Cheers. Are both those for fully managed?

Also interested to know if anyone can recommend an agent for Manchester city centre

Edited by Rollin on Wednesday 15th October 20:52

Edited by Rollin on Wednesday 15th October 20:52

[jackal]

fee for what ?

i pay a one off payment of 8% for a tenant find including him sorting out all teh references and setting up standing orders etc..

Edited by jackal on Wednesday 15th October 20:54

[Rollin]

Fee for this...

• marketing your property
• introducing a tenant
• negotiation of terms
• applying for references
• drawing up an appropriate tenancy agreement
• organising of professional inventory
• holding deposit
• negotiation of renewals (if requested)
• rent demands
• credit control
• statement of accounts
• advise on application for exemption to the inland revenue
• payment of outgoings where necessary, subject to fund availability
• arranging annual gas safety certificates and electrical installation and portable appliance tests
• routine checks of the property
• informing utility companies of a change of occupier
• employing suitable contractors to ensure standards are maintained
• arranging routine repairs and maintenance
• ensuring the properties comply with the latest safety regulations
• supplying clients with relevant legislative information upon request
• reconciling deposit returns and damage repair
• negotiating any end of tenancy claim
• supervising any renewal or termination to avoid void periods
• communicating with tenants and landlords and solving problems
• arranging insurance as applicable
• liaison with surveyors and other professional advisors

[jackal]

thats management
15% is normal