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  • Buy-to-Let

    Sourcing new tenants

    Hi All,

    I am shortly going to market a property that had previously been occupied with long term tenants and considering the best approach to marketing, i.e. online platform or estate agent. We are targeting ideally a long term family let that will be self managed. I have experience setting up tenancies, i.e. tenant reference checks and RGI etc, therefore only value from estate agents would be sourcing tenants. I have signed up for a Upad account already but was looking for other people's views on the approach before progressing further.

    Thanks in advance

    Lee

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    Another option is OpenRent - I've used them several times now and found them to be excellent.

    If you can be available to do viewings you can get a good 'gut instinct' for your potential tenants, something (imho) some LAs are not too worried about.

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    I would recommend Upad Basic - it sounds ideal for you.

    Upad is our self-managing partner.  If you have got value from using Property Tribes, you may like to show your support by using the products and services of our sponsors. It is their support that helps maintain this site as a free-to-use community resource. Thanks in advance if you reciprocate in this way. Smile

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    Can't comment on Upad Basic but I can recommend Open rent.

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    We used Open Rent three years ago. They were very good with references, deposit and contract.


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    Assuming you're close enough to get there easily to do viewings , then openrent has worked well for me.

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    DISCLAIMER just my personal opinion - for legal advice consult a qualified professional grown-up.

    I always use Openrent - only £29.  I prefer to use my own referencing company and AST but I like how the site works.  I always weed out any potential tenants who I don't think will be suitable by asking many questions before any viewing.  This cuts down on time wasters which I find I get quite a lot of.  Not sure if dealing direct with a landlord people think you may be a push over?  Anyway I have had no complaints with Openrent who I have used for 6 years and so far I have been fortunate to get good tenants in all my properties.  Good luck, but like Adam says - do go with your "gut feeling" if you think something does not feel right more often than not you will be right.  Letting agents have a vested interest in getting their fee and not necessarily finding a reliable tenant.

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    Hi Lee

    I’m in the same position and have similar experience so I used Upad recently, as previous tenants had complained in the past about high estate agent fees. My experience with Upad has been mixed, I had difficulty at first uploading photos as used my camera phone, but this was sorted out over the phone. (I will pay for professional ones next time) It was very difficult to get through and I nearly always had to leave a message and wait for them to call me back which was not always ideal.

    However they were always very helpful and professional and it produced enquiries. I made the mistake of stopping the ad as  I had two really good couples that both wanted it.

    However my first choice later changed their mind (luckily I’d charged a holding deposit) and my second choice went on to show adverse credit and an active CCJ on reference checking so declined them. I restarted the same advert after a week or so later had to pay the fee again.

    The 2nd ad has produced more good enquiries, but I learnt to ring them back ASAP and ask a few dealbreaker questions first before allowing them to view, as still get some time wasters.

    My advice is to give online a go if you have experience, the time, and live locally. I thought Upad was ok but might try openrent next time to have a comparison.

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    Don't bother referencing them yourself.

    Just get them to obtain their own Tenant Referencing Passport and then show it to you via LRS.

    If they can't be bothered then ignore them.The TRP is the way to beat the tenant fee ban.LL won't require them to pay for their own referencing  but if they don't then they won't be considered

    That would be the choice of the aspirant tenant.

    If Tenants choose not to buy their own referencing then a LL won't consider them.

    It is up to the tenant if they wish to be considered.

    One TRP is valid for 3 months for LRS RGI validation if qualified.

    If you don't adopt this zero cost strategy for referencing you could spend hundreds of pounds on referencing unsuitable  tenants.

    I believe LRS charges about £40 to advertise rental property on the major Web portals.

    If tenants can't be bothered  to buy their own referencing to obtain a tenancy would you want that person as a tenant!

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    Paul - how much does the Tenant Referencing Passport cost the tenant?

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    I believe about £40.

    But that is it.

    They won't need to pay again unless they haven't found a property within  3 months..

    I'm very surprised  tenants don't adopt the TRP.

    It is a very effective  way to jump a queue.

    Tenants with a TRP that also qualifies them for RGI would get my attention! !

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