Just suppose you could buy property management from just £14.99 per month, per property in the vast majority of the lettings hotspots in England.
Would it really be worth the hassle of trying to organise everything yourself?
Could you be certain that you would be able to do it for less?
You might be forgiven for thinking that such an offer would be made by an unqualified agent who is cutting corners. However, what if I were to tell you the agent offering this service is fully bonded with ARLA and has client money protection insurance too?
Well I’ve found an ARLA agent offering this service and I think it’s only right that I should share my finding with you.
Here’s what £14.99 + VAT buys you:-
- Visiting your property, taking particulars and floor plans.
- Setting up an online account to store your documentation so it can be accessed at any time
- Advertising your property on the major property portals
- Referencing tenants and guarantors
- Inventory and schedule of condition prepared by an AIIC quailified inventory professional
- Tenancy and Guarantor Agreements
- Taking meter readings on check in and check out and informing utility companies of tenancy change over
- Deposit registration (This is an additional cost of £25 + VAT annually)
- Gas Safety Certificate as required (additionally charged)
- Rent Collection with payment forwarded to your account by BACS and monthly rental statement
- Check Out at the end of the tenancy
If you want the letting agents to do viewings, periodic property checks and manage manage all maintenance issues the monthly fee is £24.99 + VAT. The top end package is priced at just £34.99 + VAT and includes rent guarantee insurance with legal protection insurance. The rental guarantee pays out if the tenants falls more than a month in arrears and thereafter for any further missed payments until vacant possession of the property is recovered. The legal protection insurance covers all costs associated with eviction.
HMO management is also available for £24.99 pcm + VAT for the first room then £10 pcm + VAT for subsequent rooms. Note that this agency does not usually accept tenants in receipt of benefits at the outset of a tenancy. Any tenant is only a P45 or a relationship breakdown away from the potential of financial distress and having to claim benefits, hence this level of cover is highly recommended for landlords who are reliant upon receiving their rental income whilst a tenant is in occupation.
The results of the December 2012 Property118 readers survey, which was completed by 978 people, was that 25% of you employ an agent to fully manage your properties, 23% of you use a letting agent just to find tenants, 45% self manage entirely and 8% mix and match. Will these figures change as a result of this offer I wonder?