Ask a Letting Agent anything
Discussion
Countdown said:
What mark-up did you make on arranging repairs for the LL?
its was at 0% to landlords. We did make a charge to contractors of 11%+vat but that was off their fees as we were giving bulk work to them and saved them advertising/getting work in and no defaults. We made sure the costs did not rise to landlords and secured better rates for our landlords then they would get indivuidually.
dingg said:
Can you describe the worst state of a property after a troublesome tenancy has came to an end?
How much it cost the landlord to put right in terms of repair?
Finally how much rent was owed to the landlord at eviction point?
Very very few in 25 years. (for reasons)How much it cost the landlord to put right in terms of repair?
Finally how much rent was owed to the landlord at eviction point?
Properties abandoned ; Perhaps about 3 None of these were trashed, just old clothes, unclean, some furniture. generally sad stories behind these.
Problem tenants - again very few. Most tenants are not problems and issues with properties we are mostly able to resolve. Where they were just a pain there were other reasons ie they wanted to leave early. To which we could assist thus they worked with us in the end to get a good solution.
Repairs - yes from time to time there would be dilapidations but never had a property "trashed" or damaged deliberately. if it were damages then we would generally get most from the ex tenant from the deposit. Some may argue but the check ins are good and little room to argue.
Some time it would get split 50/50 with the LL and T
rare to be more then the deposit claimed but has been and tenants paid up without being taken to court. Again good check in/check out process leaves little room to wiggle off.
Evictions as in goes to court for possession about 3 in total - again very very few for various reasons. largest arrears was about £4000 (approx. 4mths) and property needs to be cleaned/some rubbish removed. About £600
Funds were recovered from a Gtor but it did go to court.
Some others they disappear just before bailiffs arrive.
Most times when tenants leave no issues save for minor cleaning. We try to manage the LL expectations and tenants expectations. ie a property will need full redecorating each 5-6 years new carpets life span about 10-15yrs. thus adjust claims/works to take that into account.
The key was not to get risky tenants which we were very good at. We were very selective. We wanted happy tenants, happy LL and successful lets.
we had about 8 tenants die
2 x murdered
2x now renting with HMP services.
and all the other normal life dramas.
Edited by superlightr on Thursday 16th March 15:13
Edited by superlightr on Thursday 16th March 15:14
Edited by superlightr on Thursday 16th March 15:14
Edited by superlightr on Thursday 16th March 15:17
Edited by superlightr on Thursday 16th March 15:18
Edited by superlightr on Thursday 16th March 15:19
superlightr said:
Countdown said:
What mark-up did you make on arranging repairs for the LL?
its was at 0% to landlords. We did make a charge to contractors of 11%+vat but that was off their fees as we were giving bulk work to them and saved them advertising/getting work in and no defaults. We made sure the costs did not rise to landlords and secured better rates for our landlords then they would get indivuidually.
Countdown said:
superlightr said:
Countdown said:
What mark-up did you make on arranging repairs for the LL?
its was at 0% to landlords. We did make a charge to contractors of 11%+vat but that was off their fees as we were giving bulk work to them and saved them advertising/getting work in and no defaults. We made sure the costs did not rise to landlords and secured better rates for our landlords then they would get indivuidually.
Bluequay said:
How many times have you said the phrase "Per Calender Month" and does it grate on you as much as it does on me!!
I dont deal directly with tenants very often over the last 10 years. you do end up emailing the same things to the same questions to both LL and T so we had standard letters to send out - ie T forget to increase rent after a rent increase etc. Standard letters/procedures are key.
the aim was to make it as efficient a business as possible. To be helpful to a point.
The issue was the more you helped/bent over to help it would come back to bite you so we stuck to what was agreed and informed others what to expect and what is required. Little deviation or room to argue then.
MonkeyBusiness said:
Bluequay said:
How many times have you said the phrase "Per Calender Month" and does it grate on you as much as it does on me!!
How many times have you discovered the property has been sub-let? (as happened with my father).
menousername said:
Bluequay said:
How many times have you said the phrase "Per Calender Month" and does it grate on you as much as it does on me!!
HahaAnd did you ever get asked to do a valuation on Homes Under the Hammer
And if so did you write anything on your clipboard or just wing it
Is rightmove the only realistic way of letting? I am in the process of setting up as a letting agent (following a decade plus of being a landlord) but my god the fees!. Can you get by at least initially on various social medias and own website and tenant shortlists rather thave having to hand over 4 figures a month to RM?
superlightr said:
Having just sold up a multi (2) branch Letting Business and been working as a letting agent for the last 25 yrs - Im happy to give any low downs, ins and outs or questions relating lettings, landlords/tenants. (We didnt do any sales)
How much did you sell the business for (if you don't mind disclosing such info) and how did you calculate its value?Edited by superlightr on Thursday 16th March 16:41
Edited by Louis Balfour on Thursday 16th March 20:21
Chipstick said:
In addition to the usual vibrating dressing table trinkets - What sort of odd item(s) have been on view within a property that you’ve shown people around that may have raised an eyebrow?
just the normal underwear etc but we are very careful if staff are showing a property whist someone is still living there as we dont want anything to go missing or get damaged. The main concern is if they have a pet and then not to let the pet out/escape etc ie cator to leave it as we find it ie single locked/curtains closed etc. We dont touch anything about from the door and open curtains.
from time to time you will get a semi naked person answer a door if they forget an appointment has been booked.
Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff