What am I paying the letting agent for?

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  • #16
    I don't have a copy of that, it would be in their office.

    I would have to ask them for it.

    Thanks

    Comment


    • #17
      Well that is the contract that governs your relationship with the agent... I would want a copy.

      Perhaps just say that you were checking your records and you don't seem to have a copy and subsequently request one.
      I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.

      That also means I cannot share in any profits from any decisions made!

      Comment


      • #18
        Have been contemplating on this thread.

        I sincerely believe you are not ready to self manage your rental property. Your £83 per month may well be a blessing in disguise, a few wrong steps could make you much worse off...

        Maybe convert back to Full Management instead of just rent collection if they cost the same?

        Your lack of understanding of basic contracts to date does not bode well for getting Landlord and Tenant Law correct. I would contemplate getting more for your money from your agent whilst you spend some months getting up to speed, at least.
        I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.

        That also means I cannot share in any profits from any decisions made!

        Comment


        • #19
          I agree with Plhlash.

          (Despite the tie...)
          'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

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          • #20
            It's a pity i have only now discovered this website. I was in the same position a few years ago, spending extortionate amount of money at some of the leading high street estate agents within London. But a little too late i discovered these high fees i paid to feel assured my properties were in good hands, were being neglected soon changed everything. I ended my agreement with them, with reasonable notice and i arranged the tenants to pay directly to me. That is all great but the other factors such as deposit schemes, constant emails with requests for maintenance,change of tenancies, mid term checks etc, it was a bit much..It was only until my colleague who had a property portfolio of his own suggested to get a smaller company who offer good work at a fraction of the prices you pay,it as worth checking out.
            I sifted through a few false claimers, but im happy with the company i found. the cover management, inventories, organise their maintenance teams to fix any issues and a bunch of other things my fingers cannot be bothered to type
            Perhaps take a look into that avenue, the company i hire work damn hard for their low rates, and i'm only charged when something needs doing.so far so good. If you get stuck get intouch and i can share their contact details.

            Comment


            • #21
              My tenants moving out, so I now have the chance of going with another agency.

              I think I'm going to use UPad.

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              • #22
                Originally posted by midiman View Post
                My tenants moving out, so I now have the chance of going with another agency.

                I think I'm going to use UPad.
                Yes...............................and?
                'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                Comment


                • #23
                  Hi. We have just used Upad, very pleased with service. There are cheaper and free online agents available - free to the landlord and I assume they charge the prospective tenant.

                  What I like about Upad is you can pay for extras like inventories, etc, so you have flexibility to do some things yourself.

                  Here is a list of everything you need to do to prepare for a new letting. I'm sure I've missed a few things!


                  decide on rent/deposit/furniture/available dates

                  update building insurance to unoccupied if needed

                  EPC cert
                  gas safety test
                  electrical tests

                  take photographs

                  advertising, using Upad or other

                  viewings

                  decide on type of tenant, eg housing benefit/pets or not

                  credit checks/referencing

                  inventory

                  photographs

                  write tenancy agreement

                  give bank account detail to tenants

                  cut keys and consider changing locks

                  Moving in:
                  agree inventory/agree tenancy agreement

                  change over of gas/electric/water/council tax

                  take photos of meters

                  protect deposit and give prescribed information

                  update insurance policy if needed

                  Comment


                  • #24
                    Thanks Isabella.

                    Updad are still not cheap.

                    I don't need the full letting package.

                    What I want from them is to help me with my AST and deal with all the deposit and money handling.

                    Comment

                    Latest Activity

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                    • Help with this agent
                      robbie31
                      My wife and I are expats who have been renting our property through an agent for 5 years. We currently own a four bedroom property (for bedrooms including a loft extensions) In October 2016, the previous tenants move out and the current occupants moved in. We were sent the documents with a recommendation...
                      13-07-2017, 12:03 PM
                    • Reply to Help with this agent
                      tatemono
                      You paid 10% of what on top of a management fee?

                      What does your contract say about this? If the contract makes no mention of a "get out" fee then it will cost you nothing to dispense with their services.

                      Is there a notice period for cancelling the contract with the...
                      16-07-2017, 09:29 AM
                    • Reply to Help with this agent
                      MrShed
                      That would depend wholly on the terms of your contract with the agent. There's no "standard" procedure I'm afraid....
                      16-07-2017, 06:19 AM
                    • Reply to Help with this agent
                      robbie31
                      Good afternoon

                      Thank you for your excellent advice. I meant about compensating the agent. This is the question in a better way. At the beginning of the tenancy we paid 10% for a finders fee / advertising / searches etc as well as a management fee taken from the rent. If we decide to cancel...
                      16-07-2017, 03:26 AM
                    • Reply to Help with this agent
                      MrShed
                      Sorry not sure your question makes a lot of sense. Why would you have to compensate tenants for you changing agent? Apologies if I am misreading this?
                      15-07-2017, 16:49 PM
                    • Reply to Help with this agent
                      robbie31
                      If we were to change the agent (the contract end on the 28th August) would be be tied and have to compensate the tenants until that date?...
                      15-07-2017, 07:30 AM
                    • Reply to Help with this agent
                      robbie31
                      Point made Mr Shed. Thanks for the upfront advice....
                      15-07-2017, 07:05 AM
                    • Reply to Help with this agent
                      MrShed
                      A few things here:

                      1) you explicitly said above the issue was distance. You can understand why I thought therefore the issue was distance.
                      2) the average compensation of the ombudsman is completely irrelevant. What matters is your specific case which could be over or under the average....
                      15-07-2017, 06:31 AM
                    • Reply to Help with this agent
                      robbie31
                      The issue is not really about distance. We are in a dilemma. My wife seems to think that if we make a complaint the agent can cancel our contract. This would mean finding a new agent and paying fees etc. Monies we do not have. We have spoken to the Ombudsman who informed us that we should have been...
                      14-07-2017, 23:58 PM
                    • Reply to Help with this agent
                      MrShed
                      I dont understand why distance makes an issue with you raising the behaviour of the agent with their professional body?
                      14-07-2017, 15:58 PM
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