Letting Agents

[dinger]

Hi people,

My partner and I are looking to rent out our house through an agent and have started the ball rolling by visiting some local companies to see what terms they offer.

This is the first time we have done this so need to be well informed as its very important the letting is operated as smooth as possible as we will be away from the area and want minimum intervention.

So far the two agents we have approach are looking at between 8 - 12 % respectively for monthly fees plus vat on the monthly rental .

Can any current landlords who use agents confirm what sort of fees are being charged and any other pointers before venturing any further. The property is a three bed detached situated in Kent.

Any specific agent recommendations in our area would be appreciated , so please send a pm if any suggestions

Thanks

Dinger

[Countdown]

Hi

Mine charges £349 for "let only" or £249 + 10% inc vat for let and manage.

[Stevemr]

Number one tip get some sort of rent guard insurance to cover against non paying tenants.
Those rates sound normal.

[Ade07]

We charge 50% of first months rent on tenant finding only and £195 plus 9% of monthly rent on fully managed.

[VTECMatt]

Big sign with number on 0% Commission Worked for us this week, only did it on a wim!

[ymwoods]

I just pay £75 for them finding the tenant and then 8% of what the house earns each month.

None of this guaranteed payment stuff that others do but that is probably why they all charge the extra money! The ones I use only work in Stoke-On-Trent however if your nearby?

[caprirob]

Mine charge £150 for tenant finding and then 8% +VAT for full management

Whether you need full management depends on the property and type of tenants - if its the first time you have let property I would definately recommend going down the full managed route as when things go wrong if you're working full time it is a massive ballache trying to sort out problems whilst you are at work.

I've had the lot - non payment of rent, damage by tenants, problems with neighbours - well worth paying someone else to deal with the aggro.

[dinger]

Thanks guys

As I have said the two agents we have spoken to are obviously saying the right things £££££££££ , but at the end of the day it probably just comes down to how good an the person/s are that are working on your behalf. If we might be 300 miles away we are at their mercy, thus my opening statement to potential agent of ,, people pay you for when things go wrong !

Off to do some more digging in town today to see how other agents stack up.

Any other advice would be more than welcome.

Thanks

Dinger

[caprirob]

If you're not going to be local than definately go down the fully managed route.

if you want to go the whole hog just look for an agent who is ARLA registered - Lettings are not government regulated as such however ARLA is the closest you will get to a regulated body overseeing the quality of their agents.

I would also recommend rent guarantee insurance - this covers you in the event of the tenant defaulting on the rent - you normally have a 1 months rent "excess" but the policy should then pay out until the tenants are evicted if they dont pay up and will cover your court costs. if you use and organise this through a decent agent on a fully managed basis, in the event of a serial non-payer who needs to be evicted the agent should complete all the paperwork and attend court, eviction on your behalf.

I know this because I have had this insurance and it works.