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my business partner put one of his properties on facebook when it became vacant and did credit checking himself and issued required documentation, went well enough
That's precisely what I have done the last couple of times that I have had a property come up for rent. The only issue I have had is a few time wasters who arrange a viewing, then never show up or contact me. So far it's been a relatively painless experience, with no extortionate fees to worry about.
Jamie, if you're able to do the viewings then why not do the whole process yourself?
As Kat C mentioned, OpenRent is £30 and I've used it several times now, always came up trumps.
This fees ban may cause a lot of LL's that were not quite sure about taking on full management to reconsider their position now.
If you self manage you can tenant find in my view .
Just need reasonable interpersonal skills and a bit of studying the legislation
Advertise on Open Rent / FB / Gumtree / local community websites
Gen up on AST / EPC / Gas Cert / Deposits / Right to Rent regs and you on your way
Jonathan Clarke. http://www.buytoletmk.com
So you are most of the way there . I do my own referencing . I speak/ visit guarantors , their boss, their character references, check their bank statements , their savings, their title deeds , interview once then again if required . I trust my own judgement rather than a 3rd party. I dig down as much as i can. The more you do the easier it becomes. Some people are not cut out for it and that`s fair enough but tenant selection is crucial for me . Set it up right by spending the time and asking the right things and its worth it .
When referencing agencies ask me for a reference for an old tenant of mine their processes are woefully inadequate I find . Sometimes just an e mail asking 3 questions . No real DD just a paper exercise . I could put anything in there and they would not have a clue
If you are handing over a 200K property to someone and expecting 10K in rent every year it requires a bit of work up front to secure that . So I would say give it a go. You can do twice as much as any agency because you have a vested interest in getting it right . If you self manage and only pay for a tenant find then they have no real ongoing interest in getting the right tenant for you as they earn no more money from you on that property just a one of fee . If it goes wrong there is very little comeback on them
So give it a go i would yourself and maybe tap into someone locally initially to give you a hand whose done it before. Get them to come along with you and pay them £100 for guiding you through until you are confident enough to go it alone. Much much cheaper and more effective I suggest than paying someone £720!!
I haven`t had one since the new rules came in so haven`t check it out in full but yes my gut says i would just take a holding deposit of say a week or two rent and that can come off the 1st months rent