Instructing an agent to take over my buy to let

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    Instructing an agent to take over my buy to let

    I've been letting a property for a few years but don't especially want to continue directly dealing with the tenant. She can be a bit cheeky in terms of asking for unnecessary jobs to be done on the flat and also paying the rent a few days late so have to chase it up.
    Is it possible to get a local agent to take over for me and do all the work so I don't have to do it. If I keep her as a tenant would it be cheaper as they can't charge for finding one? Any other views on doing this welcomed.

    #2
    The only difference with the tenant is that the agent will take their calls and then pass on the same requests to you.
    The rent won't be paid any more regularly.
    And you'll pay a chunk of your income to someone else.

    But I'd imagine most agents would be delighted to have your business.
    You may find that they want a fair amount of admin to show that things were set up correctly in the first place.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

    Comment


      #3
      The tenant may still call you directly, so that may not solve your problem. A few days late in rent is not a big problems, as some tenants can be worse. It might be something you have to live with, until she goes.

      Comment


        #4
        Just like a good accountant will save you more than the fee they charge, a good agent can save you a lot of effort and money. A good agent will remind the tenant what their repairing obligations are and what they should reasonably expect. Jobs that are a landlord repairing obligation will be addressed at a good price by the agents maintenance team. A good agent will have a robust process for managing arrears A bad agent will make a hash of this and charge you a fee for the pleasure - good luck

        Comment


          #5
          As an agent we don't usually charge any setting up fee in taking over a property's management mid-tenancy, whether by an agent or landlord directly.

          Do your homework, take recommendations and ideally visit their offices (test shop at least) to see how they handle customers. Be very wary of additional fees and the agent's plans for pricing once the tenant fee ban is in place.

          If the property is in the northwest and you'd like pricing just send me a message as I'm not allowed to include the company name or website here.
          <a href="http://www.manchesterpropertygroup.co.uk/" target="_blank">Manchester letting agents</a>

          Comment

          Latest Activity

          Collapse

          • Right to cancel query
            CandM
            Something that came up in a discussion in our office today;
            1) I understand the ASTs not signed in our office gives tenants 14 days to cancel their agreement. But what happens if the tenancy has already started?
            2) What happens if some tenants sign in office and some sign out of office,...
            14-02-2019, 12:55 PM
          • Reply to Right to cancel query
            jpkeates
            The distance selling regulations (2000) do seem to apply to rental agreements - which is interesting.

            It is possible to prevent the cancellation of an agreement once a service has started to be supplied, as long as that condition is confirmed in writing to a consumer before they sign the...
            17-02-2019, 14:29 PM
          • Reply to Right to cancel query
            CandM
            jpkeates,

            Thank you - that's makes sense
            15-02-2019, 11:21 AM
          • Letting/management agent increasing management fees
            vpr1
            Hi,

            I have received a letter from my letting/management agent, saying that from the 1st of April they are going to increase there percentage by 2%+VAT. They are stating that the reason for this is that their costs have increased over the past years. I have been with them for aprox 18 months...
            12-02-2019, 13:04 PM
          • Reply to Letting/management agent increasing management fees
            jpkeates
            Why not suggest that you will agree with the new fee structure once they have agreed that the tenant's rent will be increased by the corresponding amount and they've started paying it.
            14-02-2019, 16:19 PM
          • Reply to Right to cancel query
            jpkeates
            It's a general legal rule that applies to most service contracts.
            There's an automatic cooling off period if the agreement is signed on the business premises or done over the phone or by post.

            There are a number of exclusions and it doesn't apply to tenancies (as far as I know)....
            14-02-2019, 16:17 PM
          • Reply to Right to cancel query
            JK0
            Never heard of that before. Is that some bit of law that only applies to letting agents?...
            14-02-2019, 16:01 PM
          • Reply to Letting/management agent increasing management fees
            vpr1
            I agree with what your saying, it would be silly to move just to get get a worse deal elsewhere and ultimately the agents will recoup their money somehow, if they cant raise it by increasing landlord fees then they'll increase introduction fees etc instead.

            As to whether they are a good...
            13-02-2019, 14:04 PM
          • Reply to Letting/management agent increasing management fees
            jpucng62
            Are they a good agent in all other areas? If you would like to stay with them without the fees increase I would first try negotiating with them. They will not want to lose your business and if you go elsewhere you may get worse service & a fee increase too! As mentioned above, it seems likely that...
            13-02-2019, 11:38 AM
          • Reply to Letting/management agent increasing management fees
            vpr1
            It increases the fee to 11%+VAT, as you said thats an increase of 22%, which makes me suspect that its more to do with the banning of fees rather than an increase in their running costs. Interestingly the letter also references the banning of fees coming into force and does suggest that i might like...
            13-02-2019, 09:31 AM
          Working...
          X