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Desperate to rent out our house!

(12 Posts)
Coroico97 Sun 28-May-17 09:34:06

We have beautiful, large and recently refurbished house in desirable part of London. We are moving out of town and have found somewhere to rent and have paid deposits etc., and moving mid July. We have our house on with one agent for good fee. Apparently it is a 'tenants market' at moment so have had lots of viewing and lots of second viewings but no offers. Agent says there is nothing we can do to make our house better than it is but we just have to wait for right person to come through the door! Have just dropped price a bit at their recommendation but not sure enough to make much of a difference at these prices, but have no experience. I see on Rightmove many other very desirable properties also have price reductions. My main question is, is there anything to be gained by using another agent as well (so higher commission rate) or do you think everyone just uses Rightmove and would find house anyway with just the one agent?? Is the whole 'Corporate clients just ring the big agencies for what they have and don't bother with Rightmove' thing true? We are happy with our current agent who is very dynamic and work hard but they are reasonably local - although large and well respected and move a lot of property, but they do not have wider London reach. Are there fees to pay if you move agency or remove property from agency? House has been on their books about a month. Don't know best direction to go in as we need to shift house! Am seeing couple of other agents next week but interested in views of others in meantime.Many thanks.

user1484830599 Sun 28-May-17 10:41:32

I feel your pain. Not London but everything we were told was that rental properties fly as soon as they come up. In 3 weeks we've had 7 enquiries.

We are using an online agent, I'm very happy with them but I was told by a local agent that no one here will use online agents and we need to use a local agent (oh really?). I'm very suspicious but our house is in a nice area, nicely presented, competitively priced and yet it still isn't let.

I assumed that if it was on rightmove then that was enough, but after our experience I'm not so sure.

Coroico97 Sun 28-May-17 11:09:37

Hi there, we were going to use an online agent but decided against as similar house on next road languished for weeks on site and I see has now been put on with a local agent. I do think maybe in this market the agent earns their money by hitting the phones and following up leads. All a gamble I think! Lower fee but no takers or higher fee and at least (hopefully) more interest. Same with our thinking about getting another agent involved. Sigh.

user1484830599 Sun 28-May-17 11:22:20

At the moment I just can't bear to pay their 12% for them to transfer the rent every month. We live less than a mile away, and have managed property before so really have no use for a managed service. Even their tenant fine is 75% of the first months rent.

I would sell it if we didn't have early repayment charges.

user1484830599 Sun 28-May-17 11:22:42

Sorry tenant FIND not fine!

Coroico97 Sun 28-May-17 11:53:45

I know. It makes you feel so stuck. Management fees out of question and yes rent collection fee v high although have managed to knock them down a bit. There must be lot of people in our position I guess. really good luck with it and do pass on any words of wisdom if they come to you!!

sysysysref Sun 28-May-17 12:12:16

I'm amazed that you are struggling. We are renting whilst we do work on our house and there was literally nothing to even look at

user1484830599 Sun 28-May-17 12:26:25

Yep! Thats all we were told by everyone, that there was little supply, and what there was was poor quality and was snapped up instantly. Its just so odd and I'm stumped.

Kokusai Sun 28-May-17 12:49:47

My friend has just put a very big 2 bed flat (1800 sq ft!) on the rental market - at a price that I would have considered pretty cheap 4 years ago, and the area has significantly gentrified in that time. They had an open day with 15 viewings and got 8 offers for the flat and got it up to about 20% more than the 'offers over' rental price they were quoting but actually still pretty cheap for the flat and area.

It does seem a bit of a funny rental market st the moment

Coroico97 Sun 28-May-17 13:02:27

Agree User. What we were told too. Think great flats are going and bonkers end of market - We have just heard of house going for approaching 1500k a week to first viewer before photos even taken. My house in middle like lots of others around here and languishing. Think similar for sales at moment too. Agree very odd market.

fairislecable Sun 28-May-17 18:49:13

I know someone looking to rent a 4 bedroom house in East Dulwich, they are having great difficulty.

There are several properties that have been empty for months but the agents say they will not reduce the price (despite it being more than other houses in the area).

The rental prices have dropped slightly but the agents seem unwilling to accept this.

Coneheadmum Sun 28-May-17 19:41:52

Why don't you post a link? Mumsnetters are freaking awesome at critiquing and helping optimize photos - the hive mind would make a great estate agent.

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