Managing your own property

katskorner

Hi.

I have a property that I rent out and it is managed by agents Michael Tuck at present. They have managed it for the last four years since I moved out of there. The tennant in the property is excellent and has also been there since I started renting the property. Tucks did not find him - he looked at the house next door and then noticed ours was for rent and took that instead. Technically they say they found him. Anyway that is fine.

I now think they are taking far too much of a cut of my rent per month and not actually doing anything for it short of collecting the rent into their bank each month and I am thinking about ending my contract with them and managing the property directly. The tennant does not want to move.

Can anyone offer me any advice?

Many thanks in advance.

JCR

My sister and I have three properties which we let out. We have used an agent to help with the finding of the tennant but then manage them ourselves. It helps that we live locally, so if anything goes wrong with the property we, and not an agent, call out a plumber, electrician etc to deal with it. I don't really know what an agent could do differently and it is usually more hassle to involve an agent in my experience. Plus I have been able to pass on any benefits from cutting out the middle man to the tennant, they do not have any admin costs added on either.

katskorner

We live locally and if anything is needed then the agent rings us and we fix it anyway - they do not call anyone else.

What would I need legally for paperwork? I assume a tenancy agreement. And where do I get it from?

Also what about deposit? The agent holds that at the moment.