Use an agent or advertise online myself?

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    Use an agent or advertise online myself?

    Hi All, I have a 2 bed 2 bath flat which I was previously renting out on a room basis. I currently have one person still living there but I think in the current environment letting the whole flat out on an AST may be easier. I've been looking for quotes from local agents and most are around 7-8%. Which would cost around £1500 if it was for 12 months. It's £30 for me to advertise on the major platforms myself and I can coordinate the viewings (post lockdown).

    i was wondering given the price difference is it preferable to do it myself or is there some other value add in using an agent?

    thanks a lot!

    #2
    Originally posted by zv2k View Post
    I have a 2 bed 2 bath flat which I was previously renting out on a room basis.!
    How did you find your tenants previously?

    Comment


      #3
      With such a big investment and risk I prefer to find and choose my own tenants. If you have the wherewithal to carry out the due diligence then do it yourself. An agent just wants the money and after that you are on your own.
      I have only twice had problem tenants and both were when I used agents.
      Never again....

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        #4
        It depends on what service you want from an agent.
        I'd never suggest just tenant find, because the agent has no interest in the ongoing relationship.
        If the agent is managing and would have to evict the tenant, there's a difference in their selection process.

        You'll probably have to evict the one person staying there, though.
        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).

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          #5
          Thanks all. I previously found them using spareroom.co.uk

          JP yes I will try to post lockdown, depending on government restrictions on viewings etc. But if she wants to stay while I do viewings I could offer her lower rent maybe?

          thanks again JP you've replied to many posts of mine before! Are you based in London? I'll have to buy you a coffee one day 👍🏽

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            #6
            Thanks.
            Happy in the west midlands - London became too much for me!

            Always happy to help.
            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


              #7
              Ah you've got it made then. Nice big back garden and hefty yields! Long may you prosper!

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                #8
                Join RLA as well if you are going alone the cost is tax deductible too

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                  #9
                  I've always been a person that likes to find my own tenants. I want to meet them in person, see what they are like, get to know them. I occasionally don't tell that I own the place, to see how they act.

                  Of course there are also times when I am not in the country, so I have a good friend that I trust to do the similar checks. He is not an agent in any way but I pay him for his time if needed.

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                    #10
                    Originally posted by jpkeates View Post
                    I'd never suggest just tenant find, because the agent has no interest in the ongoing relationship.
                    If they want repeat business, then they have an interest in the on-going relationship.

                    I have a local agent that I trust and have not had a bad tenant from them.

                    They also include eviction support for one year as part of their tenant-find service.

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                      #11
                      Thanks expertinafield, do you source your tenants from rightmove etc?

                      thanks mdeB is eviction support included even if you want to manage the property yourself?

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                        #12
                        Thanks Blinko, what's RLA?

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                          #13
                          Google RLA, resident LL Association.

                          Comment


                            #14
                            Originally posted by MdeB View Post

                            If they want repeat business, then they have an interest in the on-going relationship.

                            I have a local agent that I trust and have not had a bad tenant from them.

                            They also include eviction support for one year as part of their tenant-find service.
                            Interesting point of view.
                            I suspect most large agents don't have any consideration for repeat business, it's just not in their thinking or business model.

                            But if you find a local agent who actually cares about their own business, it's a great thing.
                            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


                              #15
                              I too use an agent on a tenant find basis but i always meet and show the prospective tenants around, the agent is not even there, i have had good tenants this way and the agent i use gets more tenants that i need so i have the pick of the best, this has worked for me and the fees they charge are reasonable.

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