Need help...letting agents....procedure...Thank you!!

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  • Need help...letting agents....procedure...Thank you!!

    Hi,

    I am a UK citizen living in the US most of my adult life. Moving house back to UK this summer. I have several questions regarding letting agents and procedure...would be wildly appreciative for any help.

    1. In the US the property owner pays estate agent's letting fee's. From what I understand from this forum in UK the renter pays this commission. If this is correct could you let me know what would be considered a standard fee (percentage) for both a 12 month and a 24 month letting period.

    2. Browsing on PrimeLocation I notice that a property may be listed by multiple agency's. Is there a MLS (multiple listing service) for propertys for rent or do agency's have an exclusive on properties.

    I am so hoping there exists a MLS for properties for rent/let...visiting multiple offices is really cumbersome.

    3. Do most agents use a standardized letting form?

    4. Is the amount of deposit controlled?

    5. Does a (major) web site exist for Owners wishing to rent their own properties without an estate agent?

    6. From this forum I understand that there is often an escape clause allowing the renter to terminate tenancy earlier than the term in the contract (?)... Is this somewhat standard?

    7. I understand council tax. Is this paid monthly or annually? Is it always the responsibility of the tenant?

    8. Regarding supply and demand... Generally are there currently more properties than tenants or would the opposite be true? I understand that properties within commutable distances to major cities are more expensive... interested in Somerset (Bath) or Berks...

    9. I have also considered moving to Northern France. I understand that many UK residents purchased and renovated properties in Normandy & Brittany. It is my understanding that many of these are available on a long let basis. Have looked on the web for sites where owners advertise their properties. Have found very few that were not agency listings.... does anyone know of any sites I might look at.

    Thank you thank you thank you... greatly appreciate any help & advice.


    KMM
    Last edited by KMM; 07-02-2010, 01:22 AM. Reason: easier to read

  • #2
    Originally posted by KMM View Post
    1. In the US the property owner pays estate agent's letting fee's. From what I understand from this forum in UK the renter pays this commission. If this is correct could you let me know what would be considered a standard fee (percentage) for both a 12 month and a 24 month letting period.
    If you mean 'tenant-find' and 'management' fees (in the UK), then this is in the contract between LL & agent, and the LL pays the fees.

    Originally posted by KMM View Post
    2. Browsing on PrimeLocation I notice that a property may be listed by multiple agency's. Is there a MLS (multiple listing service) for propertys for rent or do agency's have an exclusive on properties.
    Depends on contract between LL & agent (e.g. sole agency or multi-agency).

    Originally posted by KMM View Post
    3. Do most agents use a standardized letting form?
    Not that I am aware of.

    Originally posted by KMM View Post
    4. Is the amount of deposit controlled?
    No, but typically may be 1-2 months rent, paid in advance.

    Originally posted by KMM View Post
    5. Does a (major) web site exist for Owners wishing to rent their own properties without an estate agent?
    Rightmove is the biggest website for letting agents. Private LL's advertise using various methods: e.g. gumtree, local papers, etc.

    Originally posted by KMM View Post
    6. From this forum I understand that there is often an escape clause allowing the renter to terminate tenancy earlier than the term in the contract (?)... Is this somewhat standard?
    Think you mean a break clause.

    Originally posted by KMM View Post
    7. I understand council tax. Is this paid monthly or annually? Is it always the responsibility of the tenant?
    Payment period depends on the bill payer's agreement with the local authority, but I believe payments can be set up as either monthly or annual. The reponsibility for who pays bills (T or LL) should be agreed in the tenancy agreement.

    Originally posted by KMM View Post
    8. Regarding supply and demand... Generally are there currently more properties than tenants or would the opposite be true? I understand that properties within commutable distances to major cities are more expensive... interested in Somerset (Bath) or Berks...
    You will need to research the area you're interested in; try calling local agents.
    The information in my posts is provided 'as is'. This is not intended to be legal advice. Legal or other professional advice should be sought before acting or relying on this information or any part of it. I will not be held responsible for loss or damage arising from errors in the information or the way in which a person uses the information on this . For more information on your query use the '' link at the top of this page. Agreements, Forms & Notices can be found .

    Comment


    • #3
      KMM - forgive the last post by inenigma. He/she has been posting numerous nonsensical posts for whatever reason.

      This does not represent the standard of advice you will normally receive on this forum.

      Comment


      • #4
        Kmm

        Tom999.. Thank you for taking the time to respond to my questions. I think I may have been less than clear in the asking of some questions.... Will re-read your responses again and ask for further clarification.

        Dear Snorkerz.... THANK YOU. Greatly appreciate this feedback. KMM

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        • #5
          Most letting agents have a step by step guide of the process on their websites so just look for agents in your preferred area on google. You will probably have to pay an agency/reference fee which is for processing your application. The landlord pays the agent a fee for marketing. You also need to be aware that you'll probably have to pay for the first 6 months of your agreement in full unless you have a UK based guarantor.
          <a href="http://www.manchesterpropertygroup.co.uk/" target="_blank">Manchester letting agents</a>

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          • #6
            KMM: Your contract (tenancy agreement) will be with the landlord -not the agent.

            To avoid agency application fees, apply direct to a private landlord.
            The information in my posts is provided 'as is'. This is not intended to be legal advice. Legal or other professional advice should be sought before acting or relying on this information or any part of it. I will not be held responsible for loss or damage arising from errors in the information or the way in which a person uses the information on this . For more information on your query use the '' link at the top of this page. Agreements, Forms & Notices can be found .

            Comment


            • #7
              jrsteeve,

              Thank you....Understand about the six month prepaid period.

              tom, thank you.

              Comment

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