Hi all. New member. Question Re Estate Agents and Prop Maintenance costs.

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    Hi all. New member. Question Re Estate Agents and Prop Maintenance costs.

    I know have two letted properties in the east London area. I currently have an estate agent "looking after" the management side of both properties and tbh am less than happy with the sevice I have received (and the fee's I have paid) so far with three different agents.

    I wanted to ask how forum members look after the porperty maintenance side of letting and whether there was any advice or tips you could offer to try and cut these guys out!

    Thanks in advance!

    #2
    Have they done what they're contractually obliged to do? And are you upset because you're having to pay them for what they're paid to do?

    What specifically have they left you feeling unhappy about? Do they not carry out repairs promptly? Has their incompetence cost you more money? Do you feel you have any genuine grievance or just wish you'd not signed up and saved yourself the money?

    How property maintenance is dealt with is quite simply. Tenant rings up with an issue you get trusted local contractor to repair and pay the bill. You also inspect the property relatively regularly.
    [I]The opinions I give are simply my opinions and interpretations of what I have learnt, in numerous years as a property professional, I would not rely upon them without consulting with a paid advisor and providing them with all the relevant facts[I]

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      #3
      Thanks for the reply. With the first property I was unhappy with the "repair" that was made to a sink, which subsequently lead to a massive leek and damage to the wall.

      The tenants also informed me that no inspection was made.

      Basically I would like to find out if anyone has managed to have an agent find them a tenant then do the maintenance side of the letting through a company that just deals with property maintenance/ inventories/inspections etc. Do such companies exist?

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        #4


        I couldn't resist it, sorry.
        I offer no guarantee that anything I say is correct. wysiwyg

        Comment


          #5
          Originally posted by Bergkamp123 View Post
          Basically I would like to find out if anyone has managed to have an agent find them a tenant then do the maintenance side of the letting through a company that just deals with property maintenance/ inventories/inspections etc. Do such companies exist?
          Yes, but I think you'll find they are called, erm, letting agents...

          Comment


            #6
            Of course. Most letting agents offer a variety of different services and it is up to you as landlord to choose what you want them to do, based on their price and reputation.

            What you seem to be looking for is usually called a 'tenant find' service. But you still need to confirm what this comprises, as it varies, or can be adjusted to your needs:

            * advertise
            * accompany viewings
            * take applicant particulars
            * credit check/reference
            * select tenant
            * complete inventory
            * complete contract
            * take/register deposit and 1st month rent

            Yo may wish to do one or several of these yourself - that is up to you to negotiate with the agent.

            But make sure it is clear in your contract with them exactly what they are and are not responsible for.

            Comment


              #7
              Thanks Mike,

              I didn’t realise how many estate agents would actually be on here...Never mind.
              I may have not made myself clear...As I have read in previous threads it seems the experience people have is that estate agents are only interested in getting the commission. I understand that letting agents offer these services in the end of the day this is not what earns them the cash. I just want a service that deals with the aftercare and I do not want to give agents any more cash than I really have too.

              Comment


                #8
                Originally posted by Bergkamp123 View Post
                I know have two letted properties in the east London area. I currently have an estate agent "looking after" the management side of both properties and tbh am less than happy with the sevice I have received (and the fee's I have paid) so far with three different agents.
                ......
                So, you've tried 3 different agents and unhappy with them all...(clearly the problem isn't you....).... so I guess now you'd have a very good, firm, list of what you do & don't want from an agent... Perhaps put that in an email & ask your current and other, possible, future agents if they'd deliver that & at what %??? (Or did you already do this...).

                Do I guess you're a sales rep?? If so have you fallen for that fatal error of believing what the salesman said???

                Me, I think it's all down to relationships & building that. I take my agent out to lunch once a year: You learn a lot, very cheaply.... There are good letting agents out there ...

                Cheers!
                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


                  #9
                  Originally posted by Bergkamp123 View Post
                  I didn’t realise how many estate agents would actually be on here...Never mind.
                  I don't think there are very many, actually, but anyway I don't know what you mean by that comment?

                  it seems the experience people have is that estate agents are only interested in getting the commission. I understand that letting agents offer these services in the end of the day this is not what earns them the cash.
                  I think you may be a bit confused about the difference (or not) between estate agents and letting agents. Traditionally, estate agents dealt mainly with buying and selling property, whereas letting agents dealt with the rental market. Over recent years estate agents have increasingly diversified into the lettings market in order to stay afloat, owing to the slump in sales. However, I would say the role they fulfil when wearing their "rental" hat is absolutely no different to that of a traditional lettings agent - ie, both deal equally with finding tenants and managing rented properties: there's really no difference.

                  I'm sure the service you want will be out there if you specifically ask for it; however it's a bit unusual I'd say since most landlords probably want either "tenant-find only" or "tenant-find plus management", rather than "management only".

                  Comment

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