No Letting Fees For Landlords

No Letting Fees For Landlords

9:55 AM, 3rd September 2017, About 7 years ago

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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. 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 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: –

  • 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

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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