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MEGATHREAD:- Recommended Lettings Agents

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Hi

 

I've never rented out property before but due to circumstances I need to do this within the next couple of months.

 

I have found a suitable tenant, but have no idea about tenancy agreements and the responsibilities of both parties.

 

Does anyone know of a company that offers this service, and particularly what they charge.

 

Thanks

 

Hi alirosdan

 

I use Capital Properties on Abbeydale Rd. I know a couple others who use them as well. They charge me 10% on the rent and seem to do an alright job. They always pay me on time and for me that is the most important thing. I would suggest using a letting agent based near where you live if possible as it can be convenient having easy access to them.

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Hi

 

I've never rented out property before but due to circumstances I need to do this within the next couple of months.

 

I have found a suitable tenant, but have no idea about tenancy agreements and the responsibilities of both parties.

 

Does anyone know of a company that offers this service, and particularly what they charge.

 

Thanks

 

Are you just looking for a tenant or do you want to include management as well?

 

Ensure that you get a draft copy of both the rental agreement and the management agreement before you sign.

 

Do you want to allow smoking and/or pets?

 

There are good tenants who smoke and/or have pets but there's also a few bad ones as well.

I had to have a property redecorated to to smoke damage.

Draw up an inventory list.

 

Will the property be unfurnished?

Have you a garden? Who will maintain that?

 

Bear in mind that there are a lot of good tenants, both on support and otherwise, but there are bad ones as well.

 

Will you be around to see the prospective tenants?

 

Ideally you need an agent near the property in case there are problems, hopefully not.

Edited by Gleadly

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It is very true what has been said about deciding upon an agent based purely on numbers.

 

Just because you may get a great percentage for an ongoing management fee...the proof really is in the pudding. You have to investigate the true value that you end up with.

 

My experience is that most low percentage and fees based around the tenant finding and management fees are effectively the hook. Once you are engaged into an agreement and things start to go wrong there are always hidden costs. Generally speaking you will end up shelling out on things like routine maintenance and any works required throughout the tenancy an agent added cost always gets passed across to you as the landlord.

 

Try Force 10 Property Management, they offer a great personable service with absolutely no additional costs.

 

https://www.facebook.com/Force10PropertyManagementSheffield

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Try d.g lettings, they do three for me, they charge

Ten% but no hidden costs and take care of everything.

Ask for david, 07976871145.

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A lower price doesn't have to mean that the service suffers in every case, our business model cuts out expensive premises, multiple small branches, expensive company cars, inefficient working practices, franchise costs and all sorts of other wastefull media. Having worked for 2 of the most expensive agents around Yorkshire (typically 12.5% + VAT for a management fee), I feel I offer the same if not more with Hatched for a fraction of the price. Believe it or not, but just before I left my previous employer, I recall being a request to buy some new key fobs (About £10 for 50 or thereabouts) to replace the confusing set of old renumbered fobs resulting in all sorts of problems. Refused because apparently we couldn't afford it... Despite having a fee structure with the most expensive at 15%. They sent me to a viewing with a property that had been vacated, final inspection had been "carried out" by a member of staff due to leave, he'd not done it, I ended up walking into a house with 3 months worth of filth, the tenants had already been given back their full deposit. Even if they had tried to claim for the landlord, the inventory (compiled by the letting staff) would have been useless for so many reasons. I could go on... but I left after 3 months, worst employer I've ever had to deal with, all this from one of the biggest estate agents in the UK and part of a group of several very well known names.

Do your homework when checking out letting agents - do they answer your calls as a landlord AND as a tenant? Do they know about what's involved? What should you expect during the tenancy from them (ie visits to the property etc.), ask for ALL the costs. It's a massive trust issue and the amount of responsibility I feel as a letting agent for a landlord does weigh heavily at times, but there is a lot that can be done from the start to ensure the tenancy runs smoothly.

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