Letting agent fees

[garryparry]

Hi guys,

Can anybody tell me what estate agents charge for letting out your property? Are they good value for money and whether it's worth finding a tenant on your own?

 

Any replies gratefully received.

 

garryparry

[Womerry2]

Letting Agents are a good idea for landlords who do not live locally. It means that someone can get on-site quickly if a problem occurs, and tenatnts know who to turn to. The charges can be substantial; expect them to take 15-20% of the rent. Letting Agents offer no guarantee that tentants will be found quickly or managed safely, though. If you live locally (so you could get to the property within an hour, say), there is no reason why you should not do your own letting. Which (the Consumer Association) publish a Guide to Renting and Letting which also contains a contract template, and if you subscribe to rla newsletters/mailings(rla.org.uk), you are kept up-to-date on the law.

 

As the landlord, you accept that the property is your tenants' home for the duration of the contract, and you can also expect the care the tenants take of your property to be proportionate to the care you take with upkeep and repairs. If you have a much-loved home you cannot bear to sell, letting is a very good way of letting someone else enjoy it while it earns its keep

[garryparry]

THanks for that.

Much appreciated.

 

garryparry

[chryll]

hi i am renting off a landlord an he got 7 propertys an lives in middlesex propertys in different towns i rent 1 in sheffield off him anyway he does not use estate agents as they are too expensive an they course alot of hassle u easier to advertise your self they have too many rules plus u advertise your self quicker u get a tenant

[coggy]

We use a management company for our properties in Barnsley / Rotherham etc.

 

They have 2 offices and they are very good.

 

They are currently looking to branch out into Sheffield in the coming months and will be breaking into the Sheffield area with a start off fee of full management for 8% which is fantastic.

 

It would probably rise over a couple of years to a max of 10% which still takes some beating.

 

If any landlords would be interested in joining a list that i am compiling and will be passing over to them once they actually get there office sorted please e-mail me your contact details and the number of properties you have in your portfolio that you would looking to have managed for you.

 

They would then contact you direct once they have set up. Like i said they manage all our out of town properties and i have found them very good and totally recommend them 100%. There charges are the best around !

 

Please e-mail your interest to:

 

jason@ccproperty.co.uk

[simone1975]

I do know as a potential tenant I was OUTRAGED when a well known estate agents said they would charge me £140 to do checks on me. I had a look at the form and they wanted to know everything but my bra size! This really put me off. I currently rent from a private landlord and pay my rent by standing order.

[SheffLetCo]

Hi Garry Parry

 

We do property management in sheffield city centre we offer full management at 5% but if you have a look at our website you can read abit about us.

 

visit http://www.thesheffieldlettingscompany.com

 

Any questions then please dont hesitate to contact us and we would be happy to help you.

[SheffLetCo]

Hi again just read simones reply and I am to shocked by how much agents now charge being a letting agent ourselves we dont believe on charging alarge amount of money for doing checks and admin if you ever need to rent then have alook at what we can offer.

[Becky B]

We were charged a lot in checking fees, I think it's a con. I rent with a friend, they assumed we were a couple (which we're not) and only charged us a joint fee. If they hadn't assumed that, we'd have been charged extra. They couldn't explain how they would decide, or prove that we were a couple or not! I let them go on assuming

Daft, isn't it?!

[vision]

I do my own renting out. I once used an agent and they gave the tenants the deposit back without checking with me and I had to claim for damage (dart holes in laminate flooring) - they were rubbish! If you want it done properly do it yourself - it's quite easy and well worth the slight hassle compared with paying the agents.