You might be forgiven for thinking that a 4% fee for full management (minimum £24.99 pcm plus VAT) would involve cutting corners.
You’d be wrong!
ARLA bonded agent Letting Supermarket have been doing it successfully for years.
If you need a recommendation you may take comfort in the fact that they manage my entire portfolio. I am the founder of Property118.com, I’ve been building a property portfolio since 1989 and I was so impressed with LettingSupermarket.com that I acquired 26% of their shares.
Chances are, if you have a property in England, Letting Supermarket will have an agent nearby including full coverage in Kent now. 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 viewings at times which are convenient for prospective tenants
- 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
For an additional 3% of the monthly rental (guarantors are not charged) rent guarantee and legal protection insurance is also included.
Is it really worth the hassle of doing all this yourself for that price?