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fireheaven Avatar
7y, 1m agoPosted 7 years, 1 month ago
fireheaven Avatar
7y, 1m agoPosted 7 years, 1 month ago

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1 Like #1
letting agencies are fine if the property is too far away for you to check on yourself,holiday home or the like but if its close enough for you to do regular checks yourself,and ESPECIALLY interview prospective tenants yourself then do it.

Many property agencies are just plain lazy and rent to anyone without proper checks-my brother rents many properties and has been badly let down by 2 "reputable" property agents picking bad tenants,accepting false income documents and being INCREDIBLY slow with payment.

If you can do it yourself then I would highly recommend that you do.
1 Like #2
I'll recommend letting agents. They take a good cut of the rent, but save a lot of hassle. If you can do it by yourself, then obviously thats the best option.
1 Like #3
FH - I know someone who does both. He's a friend of mine, has 3 properties 2 he looks after his self the 3rd is looked after by an agent.- I could ask him to contact you if you like? Would just need your email addy
1 Like #4
If you can find a letting agents who will give you guaranteed rent it's so much less hassle imo.

Tenants who pay no rent for 6 months are not nice:x
From a buyers point of view, letting agents' charges are utterly crazy and over the top.

As everyone knows, I'm loaded anyway, so theres no problem with payment from me - so I'd rather find somewhere with a decent landlord, who can be sure I'm decent enough as well.

(I'm renting because 1) I have money to burn and 2) I like to move around a lot. I seriously am LOADED!)
several letting firms offer part services where you can do as much or as little as you want
i use a service that the tenents phone up if there is an emergency and they sort it out as i have a litle one its not convenant for me to do myself
everything else i cover myself might be worth checking that out if you think you could do some of it yourself
Thanks for that

Yeah I would be local to the properties for the time being. Checks and tenancy agreements are not a problem for me but what if the tenant has an emergency etc, I work full time and have two young children. Not sure if the costs of agents would outweigh the hassle.
I am capable of recovering the rent legally its just the time that would be needed to be spent, etc

If you have reliable handymen, then you could always ring them to attend the emergency. Thats what letting agents do. Emergencies don't come often though. There will be maintenance work coming up all the time (does for us), atm sometimes we instruct the letting agents to send their men, sometimes we send workmen who we know.

There are a few checks like electricity and gas checks that need to be done (yearly I think). If you know what to do then it saves a lot of money.
Get yourself onto the Landlord Zone website, its a potential mine field, as if you get a savvy clued up renter whether you use an agency or not you could end up in a whole heap of financial trouble.

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