Newbie to Self-Management
8:17 AM, 6th August 2014, 12 years ago
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Apologies, I’m sure that this gets discussed a lot, but, is there anywhere online or book based that can give me an idiots guid to mangement in terms of tenants in my properties?
I have decided to drop the management aspect of the letting agency and wish to not fall foul of any dos and donts in terms of notices needed, inspection periods, tenant expectations etc.
Thanks
Darren
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Letting agent insurance
Member Since January 2011 - Comments: 12193 - Articles: 1396
8:43 AM, 7th August 2014, About 12 years ago
Reply to the comment left by “DARREN SMITH” at “07/08/2014 – 08:19“:
Hi Darren
Take a look at the Bronze package on this website >>> http://www.lettingsupermarket.com/packages/
We were so impressed with this company that we acquired a 26% share in their business 🙂
.
Member Since June 2014 - Comments: 325
7:14 PM, 10th August 2014, About 12 years ago
Reply to the comment left by “DARREN SMITH” at “07/08/2014 – 08:19“:
Darren – management fees of the 8-12% + VAT are typical, with some Letting Agents charging the lower end for higher value rents or once build up a portfolio of properties. These fees are based on rent paid. In addition are the “set-up” charges which can be a nominal fee or significant if the Agent claims extra for advertising, lease fee etc. Inventory Fees in Scotland are to be paid by the Landlord (used to be split 50/50). Where the Agent manages repairs, check if they charge a fee or if this is just where they have to seek contributuion from other owners (multiple flat properties). Charges for Gas Safety, EICR, PAT,EPC can also vary.