Letting out house cost question

dylanuk

Hi,

Does anyone on here currently rent out their property through a letting agent... if so, how much is the average to be charged?

Thanks,

HugoSP

I use an agent for one property.

They charge 12.5% plus VAT.

The charge one off fees for installing and removing a tenant. Other than that the fee covers day to day running of the property. To be quite frank they do very little.

dylanuk

Have you ever used Leaders? They are the agents I'm initially looking at.

How much do they charge for starting a tenant and then finishing the tenant?

speedtwin

10% is a good startingpoint

dylanuk

Thanks for the info...

Does anyone have any useful tips / pointers / things to be aware of when letting? Insurances, whether it's worth getting a maintenance package from the agent or not, etc..

Trollfever

As you would appear to be starting a business, have you prepared a business plan and a cashflow forecast?

HugoSP

Trollfever wrote: »

As you would appear to be starting a business, have you prepared a business plan and a cashflow forecast?

That's a bit presumptuous isn't it?

1. We don't even know if he has a property to let yet
2. If he has, we don't know if it a purpose bought investment or is it is own home, after moving in with partner/working abroad etc
3. He may already be letting it but feel that the services of a good letting agency may be of value to him.
4. He may be asking these questions on behalf of a relitive/friend etc
5. The questions he's asking are possibly part of his research

Why do some people assume that anyone who asks questions about BTLs are jumping into the business with both feet having not done any research?

Granted that some people are but there is no certainty that the OP is one of them.

OP - feel free to ask any more questions