anyone tried UPAD or easyProperty for management?

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    anyone tried UPAD or easyProperty for management?

    Hi all,

    I use UPAD to find my tenants and conduct the viewings myself. However I'm now looking for someone to take over the day to day management of some (or all) of my properties.

    I don't want to pay 12% to a high street agent and I note that the below two are now offering property management. UPAD seems quite pricey (works out at 12% on a rent of £1000 PCM!) Easyproperty is much cheaper but does anyone have any experience of them?

    Thanks!

    #2
    Hi Fandango
    I honestly don't see how a company can charge that little and still stay in business. Property management is difficult to do well and I just wonder if there are hidden costs such as markups on contractors invoices?

    Bearing in mind that whichever company you use are managing something perhaps worth many hundreds of thousands of pounds, why pick a company based on how little they would charge you? Its a bit like that VW advert where the guy chooses the cut price shark diving trip or the parachute that comes with a free gift, what could possibly go wrong? Why not look at companies that have a decent reputation and good reviews as a starting point and then haggle them down to a price you are happy to pay.

    It's what I do for a living so I have a bit of a vested interest in sticking up for High Street agents but as the old saying goes "buy cheap, pay twice"

    Comment


      #3
      thumbs up to Goobs' post. I'd agree. We let four properties with an LA whose prices are above the norm at 13% + VAT. Being overseas, we have to let through an agent. We chose them because they are absolutely excellent, third generation family run and know the local area very well indeed. But as we're in business as much as they are, we then asked them if we could have a discount if we brought all four properties onto their books. They agreed to 10%+VAT which is in line with other bog-standard agent prices so now everyone's happy. Of course, we only did this after they'd proved themselves with our first property.

      In the meantime, we inherited a property which was managed by an LA from hell. They charged 7% for fully managed.

      You don't always get what you pay for but a company who is able to stay in business for generations while still charging higher than market rates is obviously doing something right. A very large company can afford to burn customers through bad service while they attract more through a low rate.

      I know which company I'd rather leave over a million quid of property in the hands of.

      Comment


        #4
        Agreed that 'you get what you pay for' but I would also say that if you are paying 12% to an agent this does not directly equate to how much value YOU the customer are getting. Their overheads do not necessarily represent value for you the customer, just costs that THEY need to meet. So I don't think it's as simple as 'the more you pay the better it is'.

        Agreed with Goobs that 3.6% inc. VAT is very cheap for easyproperty, even if their overheads are minimal (no high street presence, receptionist, company cars, etc) - might not be a bad idea to trial them with one property and see how they fair before handing over a portfolio"

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          #5
          At 3.6% including VAT you will get no service. Certainly nothing that resembles what you'll get from a GOOD traditional agency.

          You'll never speak to the same person twice, you'll never speak to anyone that has ever seen your house or met your tenant and you'll get stock answers to any question or problem that arises.

          I would also expect that you'll have regular maintenance issues. I wouldn't mind betting that these companies also have a property maintenance company (under a different name or some kind of subsidiary) and it will be in their interest to create problems for which they can charge you.

          Boiler not firing? You'll receive an invoice for an engineer to attend. Toilet not flushing properly? You'll get an invoice.

          What kind of rent are we talking about and where in the country is your property?

          Comment


            #6
            Originally posted by fandango View Post
            if you are paying 12% to an agent this does not directly equate to how much value YOU the customer are getting. Their overheads do not necessarily represent value for you the customer, just costs that THEY need to meet. So I don't think it's as simple as 'the more you pay the better it is'.
            agreed, but this equates to me being willing to pay more to buy my veg from the organic farm shop 2 miles away than from the supermarket down the road. You get what you pay for in more terms than just the product you end up with. It's about sustaining an alternative from the kind of companies the OP is describing.

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