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management fees and letting agencies

(6 Posts)
stainesmassif Wed 08-Jun-11 13:15:33

We're looking into renting our house out and moving to the midlands and seem to have stumbled into a letting agents bidding war - does anyone know what's a normal % for an agent to make on the management of your property when renting it out? ie looking after everything for you? we started at 12.5 and now we're being offered 8.25 and getting v confused and frustrated.
besides the fact i'll have to namechange when we move.

supadupapupascupa Wed 08-Jun-11 13:17:00

i pay 10% plus vat

stainesmassif Wed 08-Jun-11 13:35:19

how long have you been letting your property out for supa? is it hassle free?

supadupapupascupa Wed 08-Jun-11 13:37:26

just started grin seems to be going ok, don't have to do a thing.

Gonzo33 Wed 08-Jun-11 14:56:00

I don't pay a set percentage, I pay an amount agreed between the letting agent and I. Although I am on a service which pays me monthly regardless of whether there is a tenant in or not That is expensive, but worth it because the letting agent are then liable to remove the tenant if they start trying to squat.

stainesmassif Wed 08-Jun-11 19:16:54

sounds good. one of the agents talked about buying insurance to cover ourselves in the event of unoccupied property / non payment disasters. the lower % agent has failed to return a phone call two days running, so he's out!

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