Estate agency Charges
What do estate agents charge to look after rental property?
Asked on Jul 8 2012,
Renting in Sale |
It entirely depends on the agent - if you want to rent a property through them and have them deal with the administration and repairs, collect the rent and forward it to you, deal with tenant queries and deliver a professional service, you're going to be clobbered for anywhere between 8% and 12% of your monthly rental income. Tenant Finding services tend to be a one-off fee of £500 for most agencies, but shop around and find a good deal - however bear in mind, nobody works for free, so a cheap deal means you'll probably get what you pay for - not a lot! The other option is to manage it yourself and advertise privately. This has the benefit of you meeting the tenant and vetting them yourself, but you're going to need some advice on Property Law to make sure you don't end up in a sticky situation half way through a contract.
Do your research, and decide whether you need to save cash or have peace of mind. There may be other options out there, as many agencies are looking for ways to do new business. Definitely shop around, let us know how you get on!
Answered on Aug 9 2012,
Why not consider using an online letting agent? They are much cheaper. Only catch is that you have to do the viewings yourself, but at least you get to meet your tenants and choose who you like. You get reference checks and a contract too, so it is very similar to a high street letting agent.
Answered on Feb 27 2013,
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