Online Letting Agent

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    Online Letting Agent

    What is the recent opinion of online letting agents? My head is spinning trying to compare them, the different services they offer and the fees. Are any in particular building up a good reputation?

    I don't want a fully managed service as I live close to the property and can DIY the basics or source local tradesmen cheaper than an agent.

    I am happy to show tenants around which it seems I will have to do anyway unless I use Purple Bricks who use a local agent (will they tell me which one before I sign up?)

    Do I need rent collection and statements? Presumably it would be advisable to take out rent guarantee insurance.

    I also wonder about timing. After taking ownership there will be some work to undertake. Will that mean we can't market the property in readiness until we have an exact date a tenant can move in? Bearing in mind it usually takes a month to move a tenant in especially if they need to give notice from a previous property.

    #2
    Originally posted by jicms View Post
    What is the recent opinion of online letting agents? My head is spinning trying to compare them, the different services they offer and the fees. Are any in particular building up a good reputation?
    I use Upad. It works fine. You can get a discount on first use (search for it). Would use their most basic service - none of the extras. Consider joining something like NLA for tenancy agreement. Always show tenants round yourself if that is possible.

    Originally posted by jicms View Post
    Do I need rent collection and statements?
    I think you need to do some studying. Monthly rent, generally only accept via standing order. First rent by bank transfer or cash. No statements needed generally for monthly tenancies paid via standing order.

    Originally posted by jicms View Post
    Presumably it would be advisable to take out rent guarantee insurance.
    Utter waste of time. If you are selecting tenants where you will require this you need to think again. Many exclusions. Only use if missing rent will make your enterprise collapse (in which case you should not be a landlord anyway)

    Originally posted by jicms View Post
    I also wonder about timing. After taking ownership there will be some work to undertake. Will that mean we can't market the property in readiness until we have an exact date a tenant can move in?
    Depending where you are timescales are quite short. I generally advertise, find a tenant within a week who wants to move in within 2 or three weeks.

    Originally posted by jicms View Post
    Bearing in mind it usually takes a month to move a tenant in especially if they need to give notice from a previous property.
    Depends on your market. Most of my tenants are incoming postgraduate students whose tenancy does not depend on any notice elsewhere.

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