New electrical checks and safety standards for Landlords8:59 AM, 15th January 2020
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Typically, letting agents charge around one months rent to find you a tenant. If you use an online letting agent you might get the service cheaper but then you will have to deal with viewings and will probably pay extra for referencing, inventories etc.
LettingSupermarket.com give you a choice. They can charge their letting fees (which are extremely competitive by the way) to your tenants. These are properly disclosed in their advertising on Rightmove and the Zoopla group of property portals of course. Sadly, this facility will disappear when the new laws regarding tenant fees come into place. Landlords will have to pay the fees and recover them by increasing rents.
The only condition of the “Fee Free Letting Service For Landlords” is that you sign up with LettingSupermarket.com for 12 months of their full letting and management package, which costs just 5% of rent + VAT. By way of example; if you are renting a property for say £895 a month their fee is just £44.75 per month plus VAT, which is also incredibly competitive when you look at what you get for your money: –
Fees charged to tenants are £100 per tenant (£150 inside the M25). There are no charges at all for tenancy renewal.
For an additional £10 a month plus VAT per tenant (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?
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