Experience of on-line letting

[Hippogriff]

I took the plunge today.

My key contact at the Letting Agent I use for Tenant Find-only has left the company and migrated to London. The person who's taken over the workload is nowhere near as good. Non-responsive, to the extreme... and doesn't seem to have any interest in what I'm trying to do with a property I want to get out there right now. It's been available since the 15th Jan and I've provided an advert spiel and plenty of photos to them almost 2 weeks ago, I've just been waiting for them to get it on the portals, but... nothing, nada, zippo, zilch.

So I took the plunge... I registered with uPad (dunno if that's OK to say, but a moderator will remove it if not) and started.

So far so good... I've really enjoyed taking control myself, writing in the advert, adding the pictures, adding tag-lines and all that. From what they said the advert would look like I was impressed (with myself)... I often have to check what the Agent does for me anyway, so this way I was completely in control.

I could also pay via PayPal, which was an added convenience for me... previously I've had to do a bank transfer to 'someone in Accounts' and get them to PDF me an invoice. I've already got my invoice in my inbox with the on-line Agent.

The advert is not live yet... they say they want to check over my advert and make suggestions... to be fair I'll probably reject any bright ideas but let's see what they come back with.

I'll update this as the experience continues, who knows what could go wrong... but I like it so far, it seems slick and I'm more in control.

[Hippogriff]

OK, I pressed the button on uPad at about 19:30 last night and by 09:10 this morning I can see it listed on RightMove. They sent me an email to tell me.

It's displaying just as I'd hoped... what I put in has gone straight across with no messing (something that cannot be said of the times I used a real Letting Agent). They also seem to have pulled-in the EPC as one of the images... which is nice, I'd said I'd already got an EPC, but I did not provide it to uPad while doing the listing.

I have not had to send them anything re. proof of ownership across. I thought I would have to, but not yet it seems.

Let's see if we get any interest at all.

[Hippogriff]

Noticed that even though I'd clearly said the place is available immediately, the listings show it as being available early February. I'm not sure where this discrepancy came from, but I've asked uPad if they can make a minor alteration and have it listed as being "available immediately" as I'd intended. It is only a matter of days, but I'd like it to be correct and people, or systems, not to change things without my knowledge.

[Claymore]

Sounds exciting.

So what are you aiming for - a single let or was you going for sharers?

Have you had any enquiries yet?

[Hippogriff]

This is my city centre apartment, not the other one.

So, it's usually 2 student sharers for this... but no enquiries as of yet. This is not a major surprise because I've put the rent at an ambitious level, just to test the water.

Add to this... the Letting Agent I use got in touch and said "we've just put your advert live"... sheesh! Coincidence? Anyway, will be doubly interesting to see what transpires now.

[Hippogriff]

2 enquiries today, so far, and 1 viewing arranged.

[Sad S]

2 enquiries today, so far, and 1 viewing arranged.

Well done!

Don't forget to text the viewers a couple of hours ahead to confirm they are still on.

In my experience you get more enquiries to an ad that goes live on a Thursday evening - that way it's still less than 24 hours old on Friday, which is when a lot of potential viewers are arranging their weekends.

[Hippogriff]

Thanks. Good advice re. go-live time. Will remember that.

[Claymore]

I'd tell your other agency they took far too long to get the property advertised that you have done it yourself and won't be needing their services any longer.

[jpkeates]

Obviously tell the agency using instagram and twitter, updating your facebook status using IFTTT and sexting via snapchat throughout.

[catdog1121]

I got one of my tenants through upad, it was all good apart from one issue, I found all the local estate agents especially one pushed how shall I say less desirable tenants that they knew they wouldnt be able to get a place for to look on the likes of gumtree (Where upad advertise) as they are "Private landlords and are more likely to accept tenants in your situation". The result was a lot of tenants asking silly things like "would it be ok if I dont pay a deposit and pay you the first months rent in a few weeks as I dont have any money at the moment". The estate agents also encouraged good tenants to not go to non-estate agent properties. The guy I got in only stayed 3 months, refused to give me a forwarding address, later found out why when new tenants complained bailifs kept turning up looking for him. I found if you find the right agent, say you will do everything, viewings, tenancy agreement, inventory etc all you want is the advertising they can usually do it for a few hundred quid, plus let do the referencing (As long as they dont charge a fortune to tenants).

Best of luck, I may have been unlucky and in my area there were only a few estate agents that did lettings and they have a sort of monopoly so in a more competitive area you might be fine.

[Hippogriff]

So far... to be frank, I've had more interest from Agents than I have from genuine Tenants through uPad. I had Reeds Rains get in touch and say they had let a property just like mine (in the same building, but about 6 floors lower) for a significantly higher price than I'm asking, so that piqued my interest. I've had others calling as well. I do not mind paying out for Tenant Find, especially if someone can get me more rent, but I'm treating it all with a healthy amount of scepticism. I don't think I can blame uPad for the low interest thus far, though, as all they've done is put my advert on the main portals... it's either the time of year, the property or the price that's holding it back. However, I will meet with Reeds Rains tomorrow and see what they say... an Agent that I've not had personal experience of before. I've told them I don't see the point in them just putting up the same advert as I've put up... so not sure what they think they're going to pull out of the bag.

[Wannadonnadoodah]

They'll pull loads of corporate prospective tenant charges out the bag I'd imagine.

[boletus]

So far... to be frank, I've had more interest from Agents than I have from genuine Tenants through uPad. I had a letting agent get in touch and say they had let a property just like mine (in the same building, but about 6 floors lower) for a significantly higher price than I'm asking, so that piqued my interest.

I'd be sceptical too.

Did you see their ad with it priced significantly higher? Maybe I'm a spotter but I see every property advertised in my areas of interest. If you do a search now, does anything come up for past lets? If it's a building with 6+ floors, there must be plenty of recentish comparables to get an accurate price.

Or are they claiming it was never advertised as they had a client ready and waiting? (I'm getting more sceptical).

As it happens, I put a flat up to let on the portals the day after you. Sorry to gloat, but I had 6 enquiries in the first 2 days. Tenant moves in this weekend. That was quicker than usual to be fair.

I reckon you've just priced it too high. As soon as you hit the right bracket I think it will fly. Are similar properties moving?

I also had a very persistent chain letting agent contacting me with the 'list of tenants waiting' blurb. It must be the in thing.

[Hippogriff]

Did you see their ad with it priced significantly higher?

I certainly did not, and I had been having a look-see every couple of days. I think you know my default position is "why is this Agent lying to me?" so I'll try to find out more. She reckoned that she's just let one on a lower floor for close to 15% more than I'm asking.

If it's a building with 6+ floors, there must be plenty of recentish comparables to get an accurate price.

It's 32 floors... and - what's baffled me a little bit - is that there aren't many at all in the same building available... about 3. Of which mine was the highest until I searched this morning and I have just found another for exactly the same price as mine - but it's not mine. Phew! It looks nice, but mine looks better (objectively).

The ones priced lower are on lower floors, some even so low as to be overlooked by other buildings. I thought that was a good point about mine, hopefully enough for someone to pay more. Time will tell.

As it happens, I put a flat up to let on the portals the day after you. Sorry to gloat, but I had 6 enquiries in the first 2 days. Tenant moves in this weekend. That was quicker than usual to be fair.

You gloater!

I reckon you've just priced it too high.

Agreed, but consciously for the time-being at least.

I think I've got nothing to lose from meeting the Agent today... I won't be paying anything up front and if they find me a Tenant for the higher price I'll very happily shunt some money their way. I expected I would be inundated by enquiries, but I've not even had the chancers taking a pop. Completely different to when it was let last year - went on the first day of viewings and had Tenants competing and offering more and settled on the second pair of young lads and cancelled the third viewing before they turned-up - job done.

Will continue to update... still happy with the uPad service and what they do, we're now discussing more about the let itself, I guess. I have had a couple of calls from uPad and the last time they said they could run a free analysis of how many times it's been returned in searches and how many times it's been clicked on etc. so that might also be interesting.