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Good price for finding a tenant???
kazmc
Posts: 428 Forumite
Hi all
I have just had Andrews Estate Agents round to value my property for renting.
They have advised I can expect £950-£1000 per month in rent.
If I dont want them to manage the property except when the tenancy is due to expire they want to charge me £675 + VAT for finding a tenant for 12 months. I can then pay an additional £165 one off fee which will cover the rent if the tenant doesnt pay.
Considering the womans first fee amount was £1200 :eek: and I bartered her down this is not too bad a deal??
Any thoughts on if I'm being fleeced???
Thanks all
Karen
I have just had Andrews Estate Agents round to value my property for renting.
They have advised I can expect £950-£1000 per month in rent.
If I dont want them to manage the property except when the tenancy is due to expire they want to charge me £675 + VAT for finding a tenant for 12 months. I can then pay an additional £165 one off fee which will cover the rent if the tenant doesnt pay.
Considering the womans first fee amount was £1200 :eek: and I bartered her down this is not too bad a deal??
Any thoughts on if I'm being fleeced???
Thanks all
Karen
0
Comments
-
Can you find yourself a tenant and do the checks for less?
What rates do other agents have?0 -
Get a couple more agents round - compare the prices. I presume the £120 is for Homelet or the like - all my Letting Agents pay for this included in my fee usually 8% - they include it in the admin fee they charge the tenant I would imagine. Make sure you take out Homelet whatever happens or a guarantor that will pass it - do not take the tenant however nice they seem without Hoemelt.
The most important things to make sure you have are - a gas safety certificate, your building insurers are aware you are letting the property, your lender is aware and has given you consent, you feel comfortable with the LA and the tenant, electric safety certificate is not compulsory and EPC is compulsory but if you do not get one and you do get found out the fine is £200.
One other piece of advice is get a separate bank account to run the rents and mortgage payments through so you can do your tax returns more easily.
Good luck!0 -
One other thing is get the deposit put into the Rent Deposit Scheme - very important!
The LA should be able to help you with this.0
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