Private landlords

Newlyboughthouse

I found all my places on Spareroom.co.uk.

[Deleted User]

In my area (Gravesend) a property that doesn't get let through a letting agent is like fairy dust. Even four years ago it was rare, but possible to find if you worked hard networking. Now its just not possible. Mind you, rents for a 3 bed have gone from £700 - £950 to £1,150 to £1,400. Not good to be an ordinary person and live in Kent anymore (you've got people moving out of London for cheaper rents - not so cheap anymore, and people coming from other countries through Dover). LHA is still £750 pcm so anyone on benefits can't afford to live in a private rental and of course, Letting Agencies won't let you in the door, no matter how good your credit rating if you aren't working. LL's I used to know who rented without agencies, use them now even if they know you.

FBaby

I've actually had the strange experience of showing prospective tenants around one of my properties (for £1,500/month) when the letting agent came in with other prospective tenants (for £1,650/month). In the end I did actually let it myself, but if the agent had let it for me, I don't think that tenant would have had good value.

Didn't you tell the agent what you wanted the place to be rented for? It's not for them to decide surely!

FBaby

The only landlords who need to use a letting agent are those who live too far away from their rental property or who don't want the hassle of finding tenants/managing it.

The main reason why landlords go with an agency is because they don't have a clue of their legal requirements or what they need to do to protect themselves against potential problems, so they rely on the agency to sort it all for them. Unfortunately for some, agencies are not always totally clued up and make mad mistakes themselves, but these landlords don't know that.

Even if you live near by, managing a property can be very demanding when you already have a hectic life, so being able to pass this on to someone else is very appealing.

SuzieSue

FBaby wrote: »

The main reason why landlords go with an agency is because they don't have a clue of their legal requirements or what they need to do to protect themselves against potential problems, so they rely on the agency to sort it all for them. Unfortunately for some, agencies are not always totally clued up and make mad mistakes themselves, but these landlords don't know that.

Even if you live near by, managing a property can be very demanding when you already have a hectic life, so being able to pass this on to someone else is very appealing.

Yes, which is exactly what I said:

or who don't want the hassle of finding tenants/managing it.


And you are exactly right - as soon as something goes wrong with the tenancy most agents don't know what to do and leave the problem with the LL anyway so they might as well manage the property themselves.

scriv

I must say I have had an agent fully managing my flat for years and have been very happy to leave it to them as I wouldn't know where to start. I have been lucky though as they have been very good always.

FBaby

It's not just the hassle but also the security for many and rightly so when you realise how complex the laws are. Some landlords become more knowledgeable than their agent (especially when avid MSE members) but many are totally clueless and are indeed better off trusting their agent.

chucknorris

FBaby wrote: »

Didn't you tell the agent what you wanted the place to be rented for? It's not for them to decide surely!

Of course I did, but I wasn't going to be paying the agent's 10% fee, it was added onto the rent for potential tenants that they found.

Crashy_Time

Landlords will soon be hurting with the benefit caps and tax changes, so remember to always look around, don`t just take the first house/flat an agent pushes on you. Get info by word of mouth/work colleagues etc. on good private landlords, and don`t be scared to negotiate the rent down if you are a good long term working tenant.

FBaby

Mmm, prediction for next years is that rental will go up. Still plenty of families renting who are not benefit dependent.