Newish landlord queries

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    Newish landlord queries

    Hi all, first time here and looking for some general advice.

    Be patient with me as I am a first time landlord!

    Let my property back in feb, used an agent that I used to sell our house last year. He said he could do me a good deal on fully managed. 7% which I think is a good deal?

    Being new to letting im still learning the ropes so I assumed fully managed was sit back and let the agent do the work!

    I kept getting calls from the agent about minor issues which I thought I would not, they say well we need to run work past you first,

    Then was apparently a big issue with drains which mean the loo overflowed when the tenant had a shower! Anyway I have a really good maintenance guy who checked it all out and found no issue.

    Then few weeks later I get a call form the agent saying are you aware of the issue, i said yes but it was investigated and no issue found. Agent then informs me the tenant is not even living in the property and wont return til issue is fixed! First I knew of it!

    So gets me thinking, what am i paying this agent for really!? I sort all the maintenance issues out!

    The tenant initially paid 6 months up front but wont be doing so again and will go to monthly. But the agent said they wont pass credit checks. But as long as they pay is there an issue?

    Agent did say he could be ruthless and evict the tenants after the tenancy, but tbh they have been ok til now.

    So my queries are, if issues are fixed and tenant moves back in, do I let them stay as long as they pay?

    Also with the agent, do I agree to maybe go to a tenant find type service and then I sort our the maintenance myself and get an emergency insurance policy to cover the emergencies?

    Thanks in advance!

    #2
    Join NRLA and do courses on being a landlird:. Much cheaper than the alternative (lack of knowledge) in both time and money. Even with agent you remain responsible for everything (but may have a later claim against agent).

    Have you very carefully read your agreement with agent to find out exactly what "fully managed" means under your agreement?

    There are good agents (I use 2) but since becoming a letting agent requires no training, no qualifications nor any criminal records check guess what we find with sadly too many agents.

    Keep reading this & other fora:. You'll learn a lot for free.

    Shelter website & their specialist "shelter legal" website is amazing source of info, as is CaB .


    Get ogle "nearly legal section 21" , review their checklist then ask yourself how you would know if agent is doing things right.

    And welcome to llz.
    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...

    Comment


      #3
      Originally posted by martysparty99 View Post
      I kept getting calls from the agent about minor issues which I thought I would not, they say well we need to run work past you first
      You need to work this out with the agent.
      Some landlords like everything to be run past them, some set a limit which the agent can simply authorise - it's a matter of trust and practicality.

      My agent runs anything over a limit past me, but uses emails, so I don't get interrupted if I'm doing something else.

      Then was apparently a big issue with drains which mean the loo overflowed when the tenant had a shower! Anyway I have a really good maintenance guy who checked it all out and found no issue.
      Get the agent to send their own maintenance guy, or to co-ordinate with yours.

      It's quite possible that they were letting you know so you would tell them to deal with it, and weren't expecting you to do anything about it.

      If your tenant took a shower and the toilet overflowed, there's a problem and you haven't sorted it out.
      Toilets and drains very rarely unblock themselves.

      So gets me thinking, what am i paying this agent for really!? I sort all the maintenance issues out!
      Why are you doing the maintenance?

      The tenant initially paid 6 months up front but wont be doing so again and will go to monthly. But the agent said they wont pass credit checks. But as long as they pay is there an issue?
      Do you have any rent guarantee insurance?
      Why did the agent now know about the change in payment from the tenant, that's their job not yours.

      Agent did say he could be ruthless and evict the tenants after the tenancy, but tbh they have been ok til now.
      The agent can't evict the tenant (without the tenant's consent) without your involvement.

      So my queries are, if issues are fixed and tenant moves back in, do I let them stay as long as they pay?
      That's something you need to discuss with the agent.

      Also with the agent, do I agree to maybe go to a tenant find type service and then I sort our the maintenance myself and get an emergency insurance policy to cover the emergencies?
      Why would the agent agree to release you from your agreement with them or trade on a different basis.

      I would never use an agent for tenant find only - you want them to share in the experience of the tenant that they find.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

      Comment


        #4
        The agent fees seems reasonable, the fully managed service still means the LL is contacted and updated on issues (I would rather know what is happening with my property, then just getting billed for the works. You also have the options to use them or you get your own person to do the remedial works, some LL's don't have the time ring around tradesman, and they don't want to be called up in the middle of the night that the boiler is on the blink.

        Concerning your existing T, has the T left the property and therefore the tenancy has ended?

        Comment


          #5
          Originally posted by martysparty99 View Post
          fully managed. 7% which I think is a good deal?
          That is cheap. I mostly pay 8% (+VAT) and consider that quite low.
          There is a fine line between irony and stupidity. If I say something absurd please assume that I am being facetious.

          Comment


            #6
            & read this lot....
            https://forums.moneysavingexpert.com...and-tenants/p1
            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...

            Comment


              #7
              I think you need to find another agent... Because yes ‘fully managed’ should mean more or less that, if the agent can’t offer that then I wouldn’t stay with them. You’re their customer, don’ forget that.

              PS don’t know where in the country you are but anything below 10% for fully managed is extremely low here in the South West, and would indicate a dodgy agent (imho) - but unfortunately paying more than 10% is no guarantee that the agent isn’t also dodgy

              Comment

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