Online letting agents

Mrs36

I have done a search but could only find a thread from 2014, I hope it is ok to start a new one.

I just wondered if anyone had used an online letting agent? Either as a landlord or a tenant, and if there is any in particular that they would recommend/avoid. There seem to be many different options, all offering various packages. Having previously paid 12% per month for a not that great service I'm keen to look at alternative options.

I have previously let property and consider myself to be a responsible and fair landlord and as I live near to the property I am happy to manage it myself. I am confident in protecting the deposit and understand my obligations in terms of tax/gas safety/etc.

Any advice/recommendations appreciated.

Thank you in advance!

G_M

I've never used an online letting agency, but it's years (decades) since I used an agency for managment.

I either advertise myself for new tenants, or use a local agent on a tenant-find only basis.

If doing the latter, negotiate the fee hard, and make clear what you will do/they will do. Often their standard 'tenant-find' package includes tenant vetting, tenancy contract, deposit taking/registration, inventory /check-in, etc, all of which I prefer to do myself. So I remove those from the agent contract and re-negotiate the fee appropriately.

Mrs36

Thank you for replying G_M, I have read the links you have posted previously and they have been invaluable - thank you!

Where do you tend to advertise? I've somehow got it into my head (possibly incorrectly) that most people look on RM/Zoopla etc (hence using an online agent to get my property on those portals) and people who don't are the people who would have issues with credit/pets etc. I've already had a few people I know ask if they/their friends can rent it, but while that obviously has a certain appeal in that I would know them I am also nervous of the possible implications if it went wrong.

I had never thought of negotiating the letting agents fees, I'll have a chat to a few local agents and see what I can do. I would also prefer to do the things you have mentioned myself so it is definitely worth finding out if that is something the local agents would go for.

G_M

Some further thoughts:

* I'd be wary of letting to friends, or friends of friends - that's a recipe for losing friends! What do you do when there are rent arrears (and an appropriate explanation/sob story)? Evict and lose the friend, or make up the shortfall for your mortgage yourself.....?

* A warning with 'tenant-find' only arrangements with agents is that they may direct prospective applicatants initially towards their own fully managed properties (more commission for them), so you get fewer applicants and/or worse applicants. If demand is high, this may not matter. If demand is lower.........

* I tend to self-advertise on notice boards in local large offices. Fortunately there are many large companies locally, with staff coming/going. You need to get permission from Human Resources, or Reception to get you to the board, but I've often found reliable tenants this way

Mrs36

Thank you G_M, I am very grateful for your advice.

You've echoed my worries entirely with friends etc. Demand for rental properties is very high overall in our town. Saleswise properties in our street generally sell for asking price within a week (the last two, two and three days respective) but obviously it may be different for rentals. Property comes up for rent here very rarely so nothing to compare it with, however it is a very popular area.

There is one large company here so I will see if we can find a way to advertise there. Thank you for the suggestion.

Mrs36

Just an update on this, I called a few local agents to see if I could negotiate their packages, e.g I would do the viewings etc. Unfortunately, despite there being a huge shortage of rental properties locally they are not interested at all in negotiating their fees and when I suggested that I could do parts of it myself they were utterly baffled. I still have a couple more to try but I am not hopeful.

One did try to sell me a legionella report though, which after some looking online it turns out that I don't actually need. She claimed it was mandatory and that they would not let my property without it!