Listing Rental property with multiple agents

Kiran

Are you able to/is there any reason not to, list your property with multiple letting agents? Are there any additional costs involved as there are with selling houses with multiple agents?

I was wondering if listing with multiple agents would make them work for their money or is it not worth it?

Thanks

topbargainhunter

I listed mine with one LA, didn't find me a tenant in several weeks, so went with another LA as well as the first who found me a tenant within a day.

I told the first LA I was appointing someone else beforehand and they didn't have an issue with it. Some may have different terms though?

sandsni

I'm not aware that there is any reason not to. You would have to pay each letting agency (they generally take an upfront fee for advertising etc., then make sure they get their letting fee from the first months rent as they don't really care if you get your rent after that!). Most of the LAs advertise using the same media (property websites, newsletters etc.) so I don't know if it would get your property occupied any quicker. I would say it depends more on the rental market in your area whether the LAs would work any harder. Is your letting fee likely to be large enough to make them care enough to work harder?

Kiran

That's a good point about them all using the same sites to advertise. I know I'm going to have to interview letting agents so I may mention that I'm thinking about doing it to see if that gee's up the one I choose. Is there a risk of them just renting to anyone off the street if I do that?

Thanks for your advice

ognum

I have once listed one of my properties with a second agent and low and behold a tenant from the first agent appeared within a week!

When choosing an agency see how many vacant properties they have on their books, I believe the agency I used at the time had many properties and not enough slots to show them, this meant they did not concentrate on my property. For other reasons I have since dumped this agency.

I now have an agency that I know will always have a space to show my property if vacant, they will go out in the evenings at the end of the day and show properties on Sundays if needed.

Before you choose an agent go to the tenant review sites, if tenants give low scores don't use them as in the end tenant will avoid renting through those agents.

Kiran

ognum wrote: »

Before you choose an agent go to the tenant review sites, if tenants give low scores don't use them as in the end tenant will avoid renting through those agents.

Thanks, any recommendations of tenant review sites to try?