Finding a tenant

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    Finding a tenant

    Hi, just wondering if most people use an estate agent to find a tenant? It's just our usual agent has more than doubled their fees. Our house is in an area of high demand, not a lot of rental properties on the market and has lots of passing traffic and people walking. Thinking about marketing ourselves but unsure as to the background checks we are able to carry out. Can we do the same as the agents and if so can anyone advise how to do it. Given we have other properties finding tenants could become very expensive! Thanks in advance for anyone's help.
    Julie.

    #2
    I think youll find that most people on this forum do NOT use an agent for tenant find. Its the most important job for a landlord and not one to give away lightly, certainly to someone who then has no further involvement.

    There are plenty of online agencies such as Openrent and Upad that will place the advert on the major portals for you and even carry out tenabt referencing if you wish

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      #3
      I use online letting agents and often they will offer a referencing service for a fee. If you wanted though you could conduct credit references on the RLA, their tenant application form has a part where the tenant confirms this is okay. Employer and previous landlord checks would just be yourself calling them to discuss the tenant. Have a read online about reference questions as there are questions you can't ask. Some credit check companys will allow the tenant to download their file and you could request that they send this to you.

      I hope this helps

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        #4
        Upad has served me well in the past. Checks can be done by the same agencies that the estate agents use. Just do a google search there a loads out there. Plenty of online contracts available, make sure that you comply with all the legislation with deposit protection, right to rent checks, how to rent checks, epc etc. All of these were your responsibility ultimately even when going through an agent I believe.

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          #5
          I have used an agent in the past but i know in the future i will be using one of the routes mentioned above, i can see the fees going through the roof with the ban on fees, so i suspect their business model is somewhat damaged.

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            #6
            And don't forget to increase your rent accordingly.

            The Government guidance considers £15/hr to be the median wage of an employee in the lettings industry.
            So, advertising, dealing with enquiries, filtering, arranging viewings, actual viewings, tenant selection, office costs etc.
            A day's work?
            £140 rent increase over the duration of the tenancy?

            Personally, I'll be charging a similar hourly rate as the patronising twit that wrote the Government guidance drivel charges.
            -As the market allows, obviously.

            Comment


              #7
              Hi, thank you all for your very helpful advice, it is fantastic help to us and will definitely be taking it all onboard! Kind regards, Julie.

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