High Street Agencies or Smaller Agencies?

[HomeLord]

Just a quick question for the more experienced landlords.

What are your views on estate agents as a whole?
When picking an agency to manage your properties, is it better off going to the well known ones or the smaller ones. Of course by "smaller" agencies I am talking about businesses which have been in the industry a while but not as well known.

The reason why I ask, is they have a few different schemes which high street agencies do not, such as a Rent Guarantee scheme.
Especially in these troubling times it could work out for myself.

Just a thought, and wanted to know what you guys think

[MdeB]

I do not generalise.

I go and talk to them and ask pertinent probing questions and if I don't like what I hear, then I walk away.

[HomeLord]

Alright great

But I was more looking for peoples experience with dealing with them (if they have), in terms of:

Overall customer experience
Payments on time
Good professional tenants
Lowest costs
and how involved they would keep me with the whole process

[DPT57]

You need a third option on your survey- "neither"

[cuttingman]

I went for rent on time guarantee instead of guaranteed rent which doesn't seem to pay out until a couple of months have passed. By then the tenant may have left and you may have someone new and then you no longer have a claim.

I went for online agency as I was happy to show potential tenants the property. They offered rent on time, repairs and legal protection. These were not offered by the high street. Online was half the cost.

[HomeLord]

cuttingman,

Yeah, to be honest with you I was trying to decide between the two options you just stated.

I found a small estate agency which offers guaranteed rent regardless of if my property has any tenants in it or not. However they do slightly pay me under the market price of my property. After my calculations, this scheme they use does pay me more than the high street agencies after you deduct all commission and other fees, and well if they are doing all the legwork which every agency will have to do, at a cheaper price with no delay or excuses in payments, it worked out better, for myself anyway.

[apexblue7]

Hi,
Where are your properties based

[HomeLord]

South London

[Beswick]

You need a third option on your survey- "neither"

Agreed. I'd say, if at all possible, do it yourself.

[cuttingman]

I found a small estate agency which offers guaranteed rent regardless of if my property has any tenants in it or not. However they do slightly pay me under the market price of my property. After my calculations, this scheme they use does pay me more than the high street agencies after you deduct all commission and other fees, and well if they are doing all the legwork which every agency will have to do, at a cheaper price with no delay or excuses in payments, it worked out better, for myself anyway.

Sounds like rent to rent, most say to avoid these types of arrangements.