Changing from agent to private

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    Changing from agent to private

    Hi. New to the forum, looking for some guidance.

    I let a flat which I’ve done for nearly a year using an agent on a rent collection basis. The tenant is happy to continue for a further year. Rather than using the agent and paying them a fee I’m thinking of setting up this next year privately and self sort the contract etc.

    Is there much that would need to be done and any costs involved? I obviously want to make sure everything is legal and also understand if there were still costs, weigh up whether there’s not much in it to just carry on with agent.

    The property is all in good nick and the commission going to the agent I could do with to cover service charge!

    I look forward to hearing some guidance. Thanks all in advance!!

    #2
    Personally ive always used an agent for everything , setting up tenancy , collecting rent dealing with repairs and so on (unless its a close family member) its just easier for repairs and the legislation ect ,
    If you decide to go it alone be very careful with the deposit and agreements ect and follow everything you are suppose to do in that respect with regard protecting it , I guess you have to weigh it all up eg
    - if the property is nearby and your a handy person with repairs - and you know a bunch of gas men/plumbers
    Ive no idea of what you have to do to set up everything and so on as ive always used an agent -
    Read a post on here whence the agent returned the deposit late as the landlord was going it alone which lead to problems

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      #3
      Thanks for your reply. The property hasn’t needed much work and if went with agent I’d still not have fully managed as it’s not really needed and can sort stuff out if I did. It’s more just the contract and stuff I’m weary of. Worried I might miss something but don’t mind giving a go if I’m sure I’ve covered all

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        #4
        yes ., i agree . I tend to think the more experienced landlords go it alone so if your unsure of the necessary things you have to do I would stick with agent (although some agents can be bad some very good) , i have let property out for over 15 years and there is no way i would risk it as there are too many things that can go wrong , in particular protecting the deposit within a certain timescale , giving prescribed information, and so on, including registering with the GDR compliance .
        I do have one ppty left where my son lives and i only used an agent for the tenancy agreement so i could show the mortgage.

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          #5
          there is simply too much legislation to have to sort out and if your unsure i would stick with agent

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            #6
            Sadly many posts hereabouts & on other landlord-related sites show agents frequently don't know the law or do & ignore it: And it is the landlord who is responsible for sorting out the mess. Get educated! RLA or NLA courses are a good start. As is following this forum.

            But there are good agents: I have two!
            I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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              #7
              I would join the RLA and use there advice line and there checklist and documents the are spot on and will talk you through everything every step of the way.

              As artful said you just can't trust letting agents to be up to scratch on everything and if they aren't it falls on you to pick up the pieces

              Alice may I recommend RLA membership to you, their advice line and documents are golden

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                #8
                Only self manage if you are prepared to spend a lot of time learning the ropes, including the enormous amount of relevant legislation. You can do that through RLA/NLA courses and by avidly reading posts on this forum

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                  #9
                  Thanks everyone for your replies. Given it sounds like I could easily slip up legally without investing a lot of time to understand it all (which I don’t have) I think I’ll carry on with agent. I’m pretty confident im paying a decent rate anyway so perhaps that’s the best thing with peace of mind knowing all is above board! Thanks again

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                    #10
                    If T is happy to stay for a further year, just let the T continue as SPT at end of fixed term.

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                      #11
                      Am I right in saying with SPT the tenant could leave without much notice? I can’t really take the risk of not having a tenant (need adequate notice to find another tenant), therefore apply 1year fixed term with relevant notices and break clause. Do I have the right understanding of STP? also if I did it myself I’d still need necessary paperwork and ensure I’m legal?

                      Comment


                        #12
                        if you're determined to rely on an agent, you should be asking the agent these questions, not us.

                        However, as others have pointed out, you should NEVER rely entirely on an agent. If they mess up, you are as liable as if you had messed up yourself. It is a common fallacy that you don't need to learn anything about the legalities of letting if you use an agent. In my experience of letting over many decades and having used five different agencies, I would advise anyone letting property to know their full legal responsibilities. Otherwise, you have no idea if the agent is any good or not. If they're not, you could get yourself into a lot of hot water.

                        From the sound of it, you have little understanding of what's required. I strongly recommend joining the RLA or NLA and getting accredited with them by doing their online courses. It could save you an awful lot of hassle and will make you a better landlord to your tenants whether you use an agent or not.

                        And then, feel free to ask questions on here too!

                        In answer to them, the terms of the SPT notice period will depend on the agreement you have, but generally tenants signing a standard AST and paying a monthly rent will be able to leave with only a month's notice.

                        If you cannot take the risk of not having a tenant, you are very much at risk. There are all sorts of reasons you might have a void, many of which might be beyond your control.

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                          #13
                          T Notice reqd during SPT is a min of 1 cal month and to expire at end of a Rental Period.
                          LL can give 2 cal months on any day of the month.

                          Comment


                            #14
                            Originally posted by Sclc View Post
                            Am I right in saying with SPT the tenant could leave without much notice? I can’t really take the risk of not having a tenant (need adequate notice to find another tenant), therefore apply 1year fixed term with relevant notices and break clause. Do I have the right understanding of STP? also if I did it myself I’d still need necessary paperwork and ensure I’m legal?
                            The tenant has to give between 1 and 2 months notice to end an SPT depending on the dates, whereas with a fixed term tenancy they can leave without notice at the end and not even tell you their plans if they don't want to.

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