Tenants moving out, re-letting help!

apeskin

I'm trying to help my elderly parents re-let their old house. They previously used foxtons (despite my warnings!) and obviously had a terrible time with them. In fact, if possible we want to really avoid the use of agents and all their sneaky fees, period.

Fast forward a year and a half later. The tenants have given in their two month notice as they're off to buy themselves. The issue we've now got is how to re-market the property and get new tenants. Obviously this is a massive subject, but here's a couple of caveats. None of us live near where the property is based any more, so doing viewings is going to be difficult. But if we can do it as much DIY as possible that would be perfect (from the photos to perhaps a gumtree ad?) though then there's the references etc that we've never done before.

Ultimately it's a quite an awkward situation as the rent of the property pays for the place they current live, and covers a significant portion of their income post retirement.

Are there any good online-only agents that might meet our needs?
Thanks

Pixie5740

How will an online only letting agent suit your needs if none of you are available to conduct viewings? You will need someone physically there unless the plan is to let the outgoing tenants show potential tenants around.

Since you all live so far from the property then a good local agent is what you need. That or your parents sell up if they aren't able to manage the property.

See G_M's guide to selecting and sacking Letting Agents.

Out,_Vile_Jelly

Are there any established, independent agents locally? Might be a better bet than one of the chains, of which Foxtons has a bad reputation amongst tenants (certainly in London anyway).

Long term, is it really sensible for your parents to be so reliant on rental income? They are very vulnerable to voids or bad tenants.

Mojisola

Pixie5740 wrote: »

That or your parents sell up if they aren't able to manage the property.

Wouldn't this make more sense?

If they want to continue being landlords, they could buy another house near to themselves or a family member who could manage it for them.

agrinnall

Mojisola wrote: »

Wouldn't this make more sense?

If they want to continue being landlords, they could buy another house near to themselves or a family member who could manage it for them.

I'd agree that selling is the best option, but perhaps not buying another property as that would now incur the additional stamp duty.

Mojisola

Mojisola wrote: »

Wouldn't this make more sense?

If they want to continue being landlords, they could buy another house near to themselves or a family member who could manage it for them.

agrinnall wrote: »

I'd agree that selling is the best option, but perhaps not buying another property as that would now incur the additional stamp duty.

I don't think buying another property would be the best way forward either which is why I said "If they want".

martindow

You need to look at your contract with Foxtons to see how much notice you need to give them to move to another agent. The last thing you want is to engage a new agent before you escape the old one.

culpepper

what about partial management? We let a flat and that is fully managed as we dont live anywhere near it but if we did, we could still use the letting agent but on a partial management only. Ours is 'Martins' who have offices pretty much everywhere but I cant vouch for them all being the same throughout.

Mojisola

apeskin wrote: »

The tenants have given in their two month notice as they're off to buy themselves.

Would the tenants be interested in buying the house?

It could save money and time and a lot of hassle for both sides if they were.

apeskin

Mojisola wrote: »

Would the tenants be interested in buying the house?

It could save money and time and a lot of hassle for both sides if they were.

They loved the house, but they're buying in another more affordable borough. As a family we've toyed with the idea of selling. But, I don't think we're ready at this stage for that. Plus it's the sort of house that's likely to continue appreciating in the future so we're hesitant about selling.

Are there any online-only letting agents (or warn against) that anyone can suggest. Latest idea is to get a friend in the area to do the viewings. That might work...

apeskin

culpepper wrote: »

what about partial management? We let a flat and that is fully managed as we dont live anywhere near it but if we did, we could still use the letting agent but on a partial management only. Ours is 'Martins' who have offices pretty much everywhere but I cant vouch for them all being the same throughout.

Possibly, but we'd really love to be able to avoid the fees, admin and the usual estate agent palarva. If we're forced to go back down the route of using a 3rd party, so be it. We just can't help but wonder if anyone manages without agents or if they really are a necessary evil. Again my parents are on a fixed income and high agent fees have hit them hard.