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How easy is it to ditch letting agents and 'do' landlord stuff without them?

9 replies

Chulita · 17/02/2012 15:59

Our agency takes £78 off us a month to do nothing. Our tenants ring us direct if they have a problem because it was taking the agent over a week to relay a phone call. They also charge a 6 monthly renewal fee both to us and the tenants.
Our tenants are happy to work something out between us but I'm not sure how. Obviously we'd need some kind of deposit scheme thing, what else would we need to bear in mind? How do we go about sorting out the contract?

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Onlyaphase · 17/02/2012 16:04

I use agents only to find me a tenant - they hold the keys, do all the viewings, sort out references and contracts for me and deal with the deposits too. Not that any of this is difficult, just time consuming when I'm an hour away from the property. Would this be an option for you?

I'm charged about £380 plus VAT for this tenant finding service.

Chulita · 17/02/2012 17:56

Now that we've got tenants that are happy to stay, we're wanting to stop using the agents. What do you do about the deposit and contract between you and your tenants?

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lottiegb · 17/02/2012 18:19

Easy really, especially if you live close to the property.

  • You can get contracts on-line, I get mine from the local university's accommodation office site. Your tenants will have an exsiting contract though, can you adopt that?
  • You must use a deposit protection scheme. Just look them up, it's quite straightforward.
  • Sounds like you're dealing woth the practical stuff anyway so you'll know about gas safety certs, responding quickly to problems etc.

I do everything myself now with a rented house locally and also did so far many years with another house, while living some hours away and going there once a year to see new tenants, do contracts etc. If things needed fixing, I rang the appropriate person, co-ordinated with the tenants and got it sorted out. Not recommending distance landlording, there is potential for things to go wrong in that scenario but I was in a landlord's market, so could be choosy and generally got capable tenants I could trust.

As a tenant at the same time, often dealing with agents, I concluded that they are universally rubbish and take money for doing nothing. All questions or problems were just passed on to the landlord, the agent took no action. Then they'd expect me to be in on a weekday to let people in to fix things, despite advertising for people in work only. It makes me spitty thinking about it, I'd never employ one to deal with my house.

If you find you need to get new tenants, always check references - not just form the current landlord who may have a vested interest in getting rid of them, meet them face to face and go with gut feeling about whether or not they are essentially 'ok'.

londonlottie · 17/02/2012 18:36

I learnt my lesson the first time we used an agency to find us tenants and realised there WAS an alternative to paying them a percentage each month - even if the tenants stay for years and they did nothing other than find them in the first place. When those tenants moved out, we renegotiated our deal with them to say that their fees would only be levied for a fixed period - in our case the duration of the first contract (one year with 6 month break clause). I thought they'd grumble about it but they took it without complaint - made me realise what a fool they possibly think people are to allow them to take a percentage on a rolling basis!

Chulita · 17/02/2012 19:16

We're not hugely local, about 2 hours away but my parents live opposite so they're handily placed to help if needed. I was told the agents are only contracted for 6 months so I've got a couple of months to sort out the contract etc and then we can go solo.
I agree with them not doing anything, they take a large cut simply to pass on a phonecall...
Glad to hear it's not too complicated, I shall google deposit protection forthwith. Do you have to get the contract witnessed by anyone important or is it legally binding just signed between landlords/tenants?

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londonlottie · 17/02/2012 19:24

In our case once the initial contract had expired, the tenants' deposit simply remained with the protection scheme and once the tenants eventually left and check-out was done to everyone's satisfaction, we authorised the agents to release the deposit (even though it was through a scheme, they remained the contact - we could possibly have transferred it into our names but it never seemed relevant).

Good luck! FWIW, for most of the time we were living abroad while our tenants were in our place in London and it never posed a problem - we had a great relationship with them and always dealt with any issues that arose.

Chulita · 17/02/2012 19:28

Thank you! Hopefully the agent will be as easy to deal with as yours was.

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DressDownFriday · 17/02/2012 19:31

When we had a second house the letting agency found the tenant, sorted references, contracts etc for a one off fee. Once the tenants were in the property everything else was our responsibility. We were lucky that fil was a plumber and very handy when we had any problems.

scaryteacher · 17/02/2012 22:10

I let my house via a dedicated lettings agent (not an estate agent) as we are abroad and she is worth every penny I pay her. Any snags are dealt with and then I am billed for it. It takes a weight off my mind. She collects the rent as well, and puts up with a lot of rudeness at times from my tenant, which means I don't have to deal with it.

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