Letting a house "fully managed"

[BananaPie]

We've got a couple of local estate agents coming round tomorrow to discuss letting out our house (we're moving away for a few years). Any tips on what to look for in an agent / what to ask them? We're going to have to use the letting agent to manage the property as going too far away to do it ourselves. Thanks.

Hi,
the bigger companies will add loads of extras to any management. Waiting time for letting in tradesmen, marking up on any work done etc. Ask if the work done is what the tradesman charges. I would also want ARLA registered.
You can probably bargain them down. Dont ask, dont get!

well cost - can vary a fair bit
a personal recomendation helps as standards vary
look up rents on rightmove of similar properties in your area so went they suggest the rent you can achieve you will know if that sound realistic
tenant find process - what references do they take up
inspections - how often

Someone suggested to me that, depending on your finances, to offer a fortnightly cleaner, appointed by you, as part of the deal means
a) Your house is maintained
b) You have a "spy" who is regularly visiting the property and can report any problems. Otherwise you can find the agents not visiting and you will be unaware if there are any maintenance issues arising. Else think about making sure monthly visits by the agents are part of the deal.

I don't think hassling a tenant with monthly visits would go down very well and no doubt the agent would charge handsomely for it - if it's legal even.

As a tenant I would not like the idea of a fortnightly spying cleaner. Or monthly visits by the agents.

Yeah, would you like someone inspecting your home each month? Or are tenants children now?

Your tenant is your customer, just as you are the customer o the mortgage company. They live in the house - they nag their children, cook their meals, cuddle up in front if the tv and do all the things you do in your home, and not only that, they pay you handsomely for the use of your building to do it in. You can check that your building is ok every six months, you don't get to dictate how they live their lives.

When we did this fees were 10-15% (plus vat) for management. How much is charged for inventory, safety checks, references etc (so you can compare what you could do independently) Do they have a general tradesman available and what are their rates like, do you agree automatically repairs up to a certain amount (say £250) before they contact you for authorisation. Do they keep a set of keys and monitor how many sets are circulating. Recommendations of insurance, maintenance contracts . How do they arrange rent payment to you and how long does it take - they may well collect the rent, deduct fees and any costs then pass it on - and is it taxed at source ? Ask what deposit scheme they use.

The letting agent I used (NorthwoodUK) were very good as lettings but rubbish as sales, so you might want to factor that in as well.

Great, lots of good ideas here, thank you. We'll be renting ourselves when we move, so agree that a spy-cleaner doesn't sound good from a tenant's perspective!

If your house is in a good state of repair, you already have a gas inspection regime and a history with an electrician and plumber, I'd think very carefully about whether you need the full mgmt deal. You'll hand over lots of money, probably all front-loaded, meaning you don't see any rent money for the first few months, just when you'll be needing your own deposit/set-up money, and, as others have said, the company will probably overcharge for any subsequent task. They may also be economical with the truth with both you and the tenants.

I've rented my house out through agents in the past and was very pissed off with disappointed by their service. Best experiences have been direct let or using Upad to attract the tenants. With the web and phone, you can pretty much sort anything out, even from overseas, be it ordering a new washing-machine or sending an electrician round. So think carefully about the drawbacks of having no direct contact with your tenants.