Anyone rented property without using agent?

[maggiethecat]

We have a bit of time (about 4 months) before we need to rent our house. Was thinking of having a go at renting ourselves - I know the basics of getting credit checks, dealing with deposit and I have a tenancy agreement from another property that we have always let through an agent.

But because we live here I was thinking of having a go but I'm not sure if the potential saving (about 2.5k) is worth the hassle.

If you did it yourselves, how did you market and how did you find the experience?

Yes, definitely worth the hassle - I've done it several times in the past few years and always ended up with reliable tenants and had much shorter voids than when I used to leave it to a tenant (several times tenants have moved out one day and the new ones have moved in the next). Tenants will thank you because they won't have to pay ridiculously high credit check fees, contract fees etc - everyone's a winner.

We used gumtree and a couple of other (London-based) websites - we're about to have to find new tenants again and I shall use Tepilo as well as I have heard good things about it. We organise a day of block viewings and generally end up with a tenant at the end of it (we ask for #200 holding deposit to sort wheat from chaff and have the credit check forms with us so they can fill those out there and then, again it shows who is serious). The #200 is receipted and it is explained that if their credit checks are unsatisfactory or they change their mind, the money is non-refundable - otherwise, the balance of the money after credit check fees will be deducted from first month's rent.

HTH

Should read, when I used to leave it to an agent rather than tenant...

Yes, I have used agents in the past and they were completely useless.
We email local schools, charge less than the market rate (as we don't have to pay commission to a parasite agent and have always had lovely teachers who are responsible, local people.
You will need to arrange an annual gas check, about £90, so find a nice local GasSafe (was Corgi) registerd plumber, and have in mind local handymen etc who can fix things.

That's useful. My previous experience with agents is that they do find me tenants fairly quickly (but then flat that we've rented out is very nice and in good area). When we did have a go using Gumtree I remember we had a few viewings but they came to nothing (at one point I wondered if any of them might have been agents sniffing around). But to be honest we were just testing the waters and did not make a big effort at marketing.

Will look at Tepilo as I've not heard of them.

Will also find contact schools as our local schools are a big draw for this area and our house would suit families.

The other factor is that agents around here all seem to be charging a continuing albeit reduced fee!

I have. I have also used an agent to find the tenant, then managed it myself. In effect, this just means that I call a plumber instead of an agent doing it (or whatever), and can get myself a much better deal than they are likely to.

I definitely don't use agents to manage anymore. Don't know if any out there do a good job but I had had enough when I started to chase the agents to chase the rent!

I rented my house out for a year to a lovely couple by putting a card in the post office window.
I then went with an agent expecting things to be easier and ended up with the tenant from hell who didn't pay the last 2 months rent and trashed the house.
They also gave her my mobile number and she called 80 odd times in one day whilst I was trying to get a new boiler arranged.
Credit checks mean bugger all really, plenty of people are in debt but will pay their rent, plenty aren't in debt and don't pay their rent.
Same with housing benefit, the mortgage company didn't care in the slightest if somebody was on benefits and if anything it's easier to get the money from the council paid directly to you than out of a working person who doesn't want to pay.

I did it myself for several years and hardly had any problems. I interviewed people myself and felt better doing that as these people were going to be living in my old home.

Agents get paid for doing diddily squat.

How did you market Beauty?

Mostly by small ads in the newspaper - although I have been known to (successfully) stick ads around lamposts (in very respectable areas of the town, of course!)