Who's a Letting Agent on this Forum?

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    #46
    Hmmmm, I am a landlord with properties in both London and Liverpool and to be fair the prices quoted by LA's in London are a standard 10% of annual rent but because London rents are so high the fees seem exhorbitant - I was charged one months rent (£1400) for finding tenants on a 12 month AST. With the same amount being chargable if the tenant renewed the tenancy which I did think was criminally extortionate seeing as the tenant was already there and all they had to do was issue a new AST.

    Also, when I first sought rental accommodation in Liverpool (to live in) I was charged £125 admin fee by the LA - when I asked what the fee covered I was told 'administration' and when I asked for 'administration' to be quantified the LA was unable to provide me with an meaningful answer. When I complained about the fee I got the 'everyone does it in Liverpool' standard response.

    Got so peeved by this that I decided to set up my own letting agency and was horrified by some of the properties that LLs were offering me as being 'good enough for students'. Needless to say I refused these properties as diplomatically as I could by asking for electrical and gas safetly certs - whereuopon the LL would suddenly stop anwsering my calls.

    I try and run the business as I would want a LA that I use to be run - for the benefit of the landlord and the tenant. However, some LLs knowingly take the p*ss as do many of the tenants and we try and act as mediators as cost effectively as we can.

    A LL actually said to me last week 'you're getting a management fee why haven't you fixed the roof and replaced the cooker and washing machine - what am I paying you for?". When I politely remind him that we have left messages for him several times about these issues, and we have sent him letters and emails as well but he's never responded and that he is responsible for the fabric of the building and the maintenance of the white goods according to the T&Cs of the AST contract, they seem indignant and offended as if somehow I've misled them. "The cooker and washing machine was working when they moved in and they must have damaged the roof" was the reply I got. Had to remind him that both the cooker and w/m were so old they were discontinued and most probably at the end of their lifecycle so can hardly blame the tenant and as for the roof...

    I have some very good LL's who resolve maintenance issues immediately, however, generally speaking, the vast majority of LLs (like the one I've mentioned) don't care about the comfort, well-being and safety of the tenant and only phone me on rent days demanding to know why their rental is not in their a/c by 9:00am.

    I have rented my own properties for a number of years now and I've had my fair share of problem DSS tenants (one ran off owing 5K of rent) but, to be fair, dealing with LLs is a bigger headache than dealing with tenants and I've only been doing this a few months.

    We try and absorb as many of the expenses we can with regards to LLs; but many LLs not only want a free service they also want us to renovate their properties at our cost.

    Comment


      #47
      Originally posted by mind the gap View Post
      Where did I say that? I do not think I did.
      Originally posted by mind the gap
      Not necessarily demonic. This has been debated to death already; perhaps 'unrealistic' or 'greedy' would be better descriptors.
      Did I misunderstand, it seemed to be that you were making a generalisation that LA's were unrealistic and greedy as this was the response that LA's are seen as demonic.

      Apologies if I misunderstood.
      If I am offering advice, I am doing so purely because I think I know the answer and would like to help, but... and its a big but, I do occasionally get things wrong, as anyone does.

      So please don't sue.

      Comment


        #48
        Originally posted by NoMoreFaith View Post
        Did I misunderstand, it seemed to be that you were making a generalisation that LA's were unrealistic and greedy as this was the response that LA's are seen as demonic.

        Apologies if I misunderstood.
        I do not recognise (or even understand) your interpretation above; however, I did not mention landlords.

        What I said was that some letting agents were not so much demonic, simply greedy and unrealistic.
        'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

        Comment


          #49
          Originally posted by mind the gap View Post
          I do not recognise (or even understand) your interpretation above; however, I did not mention landlords.

          What I said was that some letting agents were not so much demonic, simply greedy and unrealistic.
          Perhaps my sentence was ambiguous, I merely meant to state what you have said above, with the addition of my own, that conversely, LA's find many landlords to be greedy and unrealistic.

          I by no means meant to impute that you said LL's were seen as such, merely that from a LA's point of view, thats also exactly how many landlords come across as well.

          My apologies if you felt misquoted out of context, that was not my intention.

          My entire post was somewhat overly verbose to come to the single point that whether it is a Landlord, Tenant or Letting Agent, there are bad eggs that cause a negative stereotype of us all.
          If I am offering advice, I am doing so purely because I think I know the answer and would like to help, but... and its a big but, I do occasionally get things wrong, as anyone does.

          So please don't sue.

          Comment


            #50
            Originally posted by TopNotch View Post
            Hmmmm, I am a landlord with properties in both London and Liverpool and to be fair the prices quoted by LA's in London are a standard 10% of annual rent but because London rents are so high the fees seem exhorbitant - I was charged one months rent (£1400) for finding tenants on a 12 month AST. With the same amount being chargable if the tenant renewed the tenancy which I did think was criminally extortionate seeing as the tenant was already there and all they had to do was issue a new AST. Wise up we are in business for the money

            Also, when I first sought rental accommodation in Liverpool (to live in) I was charged £125 admin fee by the LA - when I asked what the fee covered I was told 'administration' and when I asked for 'administration' to be quantified the LA was unable to provide me with an meaningful answer. When I complained about the fee I got the 'everyone does it in Liverpool' standard response. The majority of Agents in the UK will, who's going to pay your cost's, shop, staff, vehicles, advertising, tenancy deposit scheme fee etc etc., L/L's will contribute something towards it

            Got so peeved by this that I decided to set up my own letting agency same hereand was horrified by some of the properties that LLs were offering me as being 'good enough for students'. Needless to say I refused these properties as diplomatically just tell them the truth, some people respect it as I could by asking for electrical and gas safetly certs - whereuopon the LL would suddenly stop anwsering my calls.

            I try and run the business as I would want a LA that I use to be run - for the benefit of the landlord and the tenant. However, some LLs knowingly take the p*ss as do many of the tenants and we try and act as mediators as cost effectively as we can.

            A LL actually said to me last week 'you're getting a management fee why haven't you fixed the roof and replaced the cooker and washing machine - what am I paying you for?". When I politely remind him that we have left messages for him several times about these issues, and we have sent him letters and emails as well but he's never responded and that he is responsible for the fabric of the building and the maintenance of the white goods according to the T&Cs of the AST contract, they seem indignant and offended as if somehow I've misled them. "The cooker and washing machine was working when they moved in and they must have damaged the roof" was the reply I got. Had to remind him that both the cooker and w/m were so old they were discontinued and most probably at the end of their lifecycle so can hardly blame the tenant and as for the roof...This is normal, everyone blames each other

            I have some very good LL's who resolve maintenance issues immediately, however, generally speaking, the vast majority of LLs (like the one I've mentioned) don't care about the comfort, well-being and safety of the tenant say 75% do careand only phone me on rent days demanding to know why their rental is not in their a/c by 9:00am.

            I have rented my own properties for a number of years now and I've had my fair share of problem DSS tenants (one ran off owing 5K of rent) but, to be fair, dealing with LLs is a bigger headache than dealing with tenants and I've only been doing this a few months.Once you become established double the fees of the ones you don't want as they will give you a bad name, LHA- best avoided more time and trouble and who's gonna pay for the that or are you too absorb this cost, remember business not drop in centre

            We try and absorb as many of the expenses we can with regards to LLs wrong again you will be digging a hole for yourself, remember if you work you should be rewarded; but many LLs not only want a free service they also want us to renovate their properties at our cost.
            LL's if they can get away with it will have you as a 24hr Solicitor,Building Surveyor,Tax Advisor but saying that the majority are fine, it's the cheapskate ones that don't want to spend anything/do nothing to avoid, unfortunatly the minority can ruin and give the letting business overall a bad name. A article i was reading recently in a highly regarded letting industry publication stated that 50% of LL's are not registering deposits (these would be the ones who avoid agents), i cannot belive it's that high but wasn't this bought in to bring bad landlords into line. Unfortunatley there are good/bad agents-tenant-landlords and we can all be judged by the other but a cheapskate L/L can be the bain of everyone, simply avoided or pushed in the gap!
            "Better an empty property than a tenant without a guarantor"

            Comment


              #51
              Originally posted by Sportingdad View Post
              A article i was reading recently in a highly regarded letting industry publication
              Er...highly regarded by whom, exactly? Sounds like a contradiction in terms.
              'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

              Comment


                #52
                Originally posted by Sportingdad View Post
                but a cheapskate L/L can be the bain of everyone, simply avoided or pushed in the gap!
                Go, on, give us a clue what you mean. By 'bain' do you mean 'bane'? Simply avoided by whom? Or pushed in what gap?

                As through a glass, darkly.
                'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                Comment


                  #53
                  Originally posted by mind the gap View Post
                  Er...highly regarded by whom, exactly? Sounds like a contradiction in terms.
                  err.....industry professionals.

                  MTG are you a subscriber ?
                  "Better an empty property than a tenant without a guarantor"

                  Comment


                    #54
                    Originally posted by Sportingdad View Post
                    err.....industry professionals.
                    In that case it would be amazing if the circulation justified the costs of publication
                    Originally posted by Sportingdad View Post
                    MTG are you a subsciber ?
                    Unlikely, but since you have not yet felt able to reveal the name of this learned journal, how can I be sure? (However, I can say with some certainty that I am not a subsciber to anything, since the word doesn't exist).
                    'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                    Comment


                      #55
                      Can there be any doubt that letting agents need regulating, or at the very least that they need to be bonded?

                      Comment


                        #56
                        Originally posted by Lawcruncher View Post
                        Can there be any doubt that letting agents need regulating, or at the very least that they need to be bonded?
                        Is the Pope a Catholic?

                        Are teenagers grumpy when they wake up?

                        Has it rained in Cumbria this week?

                        Are cats ungrateful?
                        'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                        Comment


                          #57
                          Originally posted by Sportingdad View Post
                          A article i was reading recently in a highly regarded letting industry publication stated that 50% of LL's are not registering deposits...
                          DPS surveys claim 20% less:
                          June 2008: "...62 percent of landlords willing to admit openly to prospective tenants that they were not registered with any deposit protection scheme"
                          September 2009: "...30 per cent of landlords are prepared openly to admit to not registering a deposit – compared to 61 per cent in 2008."
                          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


                            #58
                            Originally posted by mind the gap View Post
                            In that case it would be amazing if the circulation justified the costs of publication Unlikely, but since you have not yet felt able to reveal the name of this learned journal, how can I be sure? (However, I can say with some certainty that I am not a subsciber to anything, since the word doesn't exist).
                            The journal is standard to persons in the business and as the person who always seems to act as the forumn school mistress correcting everyone I assumed knew what publication I was referring to.
                            "Better an empty property than a tenant without a guarantor"

                            Comment


                              #59
                              Originally posted by mind the gap View Post
                              Is the Pope a Catholic?

                              Are teenagers grumpy when they wake up?

                              Has it rained in Cumbria this week?

                              Are cats ungrateful?
                              Originally posted by tom999 View Post
                              DPS surveys claim 20% less:
                              June 2008: "...62 percent of landlords willing to admit openly to prospective tenants that they were not registered with any deposit protection scheme"
                              September 2009: "...30 per cent of landlords are prepared openly to admit to not registering a deposit – compared to 61 per cent in 2008."
                              On this basis then Landlords should be the first to be regulated, I hope and assume all agents have 100% deposit protection.
                              "Better an empty property than a tenant without a guarantor"

                              Comment


                                #60
                                Originally posted by Sportingdad View Post
                                On this basis then Landlords should be the first to be regulated
                                Not a question of who comes first; the fact remains that the Rugg review has already recommended a ‘light touch’ licensing system for landlords and mandatory regulation for agents. The Government’s response in May 2009, implied that they will want to take forward: a national register of landlords and compulsory licensing of letting agents.

                                Originally posted by Sportingdad View Post
                                I hope and assume all agents have 100% deposit protection.
                                Well you assume incorrectly; there are posts on LLZ about A's acting for LL's, who have not protected deposits.
                                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

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