Full Management from 5% of rent via LettingSupermarket.comMake Text Bigger
We were so impressed with how LettingSupermarket.com manage our own buy to let property portfolio we decided to acquire a substantial stake in the company.
LettingSupermarket.com charge just 5% of rent for a full management service (6% if properties are inside the M25). Their letting fees are just £100 per tenant (£150 inside M25) which includes block viewings, tenant referencing, inventory, check in/out, dealing with utility company changeovers and a whole lot more.
Chances are, if you have a property in England, Letting Supermarket will have an agent nearby. You wont find them on the High Street though, as they believe in keeping their overheads right down, much like their fees 😀
For this super low cost, the service offered to Property118 readers includes client money protection and all of the following:-
- Visiting your property to take particulars
- Setting up a system to store your documentation securely, online of course so that it can be accessed at any time and wherever you are
- Advertising your property on the major property portals, Rightmove, Zoopla, Prime Location etc.
- Organising weekly block viewings (one off viewings charged an extra £20 + VAT per viewing)
- Referencing tenants and guarantors
- Getting an inventory and schedule of condition prepared by an AIIC qualified inventory professional
- Using the correct Tenancy and Guarantor Agreements
- Taking meter readings on check in and check out and informing utility companies of tenancy change over
- Protecting deposits and serving prescribed information and tenancy deposit certificates within 30 days of the commencement of each new tenancy
- Arranging annual Gas Safety Certificates
- Checking rental payments are received on the due date and taking appropriate action if they are not
- Issuing the correct notices at the correct time and in the correct way as necessary
- Responding to and dealing with maintenance issues quickly
- Performing periodic inspections
- Organising Rent Guarantee insurance
- Check Out at the end of the tenancy
- Timely return of tenants deposit
- Negotiating with tenants and dealing with ADR (Alternative Dispute Resolution) or Court cases if necessary
Letting costs are £100 per tenant (£150 inside the M25). There are no fees payable by tenants and there is no additional charge at all for tenancy renewal.
For an additional 3% of the monthly rental (guarantors are not charged) rent guarantee and legal protection insurance is also included. With this additional protection, if your tenant falls into arrears the insurance will pay your rent until the tenant is evicted. The insurance will also cover all costs associated with eviction.
Is it really worth the hassle of letting and managing a property yourself for that price?