X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Buy-to-Let

    Fully managed letting rates?

    I would not even be contacting any agent that is not NALS/ARLA, it is such a given that I would never tell an agent that it was a factor in choosing them.

    Client protection is hard to ask about, as everyone claims to have some, but a lot of it is meaningless.

    Fees are easy to ask about, and given that I have caught out with “hidden” charges, I will ask about them first.

    John Paul said:

     I agree with you John, we have also never had a LL come to us due to NALS/ARLA or to be honest even interrogate us about client protection or the like, it's always, what fees do you charge. JP
    0
    0

    This forum is excellent! I’m so impressed with the quality and vigour of feedback in postings and I have so much to learn. Looks like nearer to 10% than 12% is achievable for full management, but I need to be mindful of the ‘add ons’ that can come with fully managed letting rates, so that is great advice. Thanks to everyone for sharing your expertise.

    0
    0

    Guy Brown
    Blue Infinity Property Group
    M 07791-661491 | T 0118 3360366 | E guy@blueinfinityproperty.com<script data-cfhash='f9e31' type="text/javascript">/* http://www.blueinfinityproperty.com

    * New build residential developments and flat conversions in the Home Counties
    * High end HMOs in Reading and Bracknell

    All great advice but I would be asking the agency over how they deal with repairs and maintenance. What are the charges they impose on the tenant at the start and during the tenancy. Like John said the list is endless however please make the decision with great care.
    0
    0

    [Image: New-logo2.png] Manchester based investor. I buy, sell, renovate and rent investment property in East/North Manchester Wink email: mike@brentwoodinvestments.co.uk Call: 0161 681 3724

    One very important lesson I have learnt is that the letting agent is crucial in the success of your investment. A bad one can get bad tenants, which in turn creates big and expensive problems. Check them out carefully and ask them what their vetting process is for finding new tenants etc.

    Also, another very good tip is to ensure that you get a lower rate for renewals. For example you may pay 10% in year one, but year 2 should drop to 8% and year 3 to 6% as an idea. Obviously if a new tenant moves in you'll be back at the 10% rate, but there is very little work involved in a renewal and most agents will agree to this.

    0
    0
    6%? Really?

    Richard Jackson said:

    One very important lesson I have learnt is that the letting agent is crucial in the success of your investment. A bad one can get bad tenants, which in turn creates big and expensive problems. Check them out carefully and ask them what their vetting process is for finding new tenants etc.

    Also, another very good tip is to ensure that you get a lower rate for renewals. For example you may pay 10% in year one, but year 2 should drop to 8% and year 3 to 6% as an idea. Obviously if a new tenant moves in you'll be back at the 10% rate, but there is very little work involved in a renewal and most agents will agree to this.


    0
    0
    Professional student and residential lettings in Liverpool.
    http://www.topproperty-services.com
    Twitter: @ToppropertyUK
    I personally don't renew tenancies they go periodic. I also would avoid companys that charge for renewals. We also would not agree to the above as just because the tenant has been in place a longer time doesn't mean itis any easier to manage.
    I do agree that finding the right tenant is crucial however we only charge once in any twelve month period for finding a tenant although they only get a 6 month tenancy and they are free to leave at this point.
    It is also essential that landlords give permission promptly for repairs to be carried out or ensure they get the repairs done quickly causing the tenant as little troubl as possible.
    0
    0

    [Image: New-logo2.png] Manchester based investor. I buy, sell, renovate and rent investment property in East/North Manchester Wink email: mike@brentwoodinvestments.co.uk Call: 0161 681 3724

    I do not wish my agents to gain from churning tenants; hence I don’t like the sound of them making more money from a new tenant then the current tenant.

    Richard Jackson said:

    Also, another very good tip is to ensure that you get a lower rate for renewals. For example you may pay 10% in year one, but year 2 should drop to 8% and year 3 to 6% as an idea. Obviously if a new tenant moves in you'll be back at the 10% rate, but there is very little work involved in a renewal and most agents will agree to this.


    0
    0

    Hi Ian, I haven't had that experience. The demand comes from the tenant, if they want to stay then they decide not the agent. Tenants are staying longer nowadays because its a landlords market, so it's what works for me.

    0
    0