Rental management fees

[Justalittlebitblondie]

Hello

We are going to be renting our house out and using an agent to manage it on our behalf - can anyone share the fees they pay in this situation - we have been quoted 10% but I don’t know if this is reasonable...

Hi justalittlebit.
I think 10% is fairly standard though we use Purplebricks and pay less -£54 a month on a £700 rental so worth talking to them perhaps?

8% to find tenant, take inventiry, hold deposit, collect rent.

11%, but that was negotiated down from an initial 17% over 5 years ago - I think most agencies are 'hungrier' now. They do everything but manage the deposit - I handle that myself. Too many stories about agents going bust and deposits disappearing.

That's what I pay. Check how deposit and tenant money is protected before it reaches you. Ask what happens if they go bust.

Remember the buck still stops with you and you need to check that all docs have been signed for and that all insurances are in place.

Thanks for the advice - just trying to make sure it's all managed as professionally as possible - gas and electricity certificates sorted, epc ordered, want to be a good reasonable landlord...

We will be moving back in about ten years - we just have to move into tied accommodation for my husbands job...

Some of that is legal requirement anyway. Add home emergency cover, remove all your stuff, fix everything, leave copies of instructions and detach. Insure against malicious damage, legal costs, non payment of rent.

Have since sold our first house, but when we were abroad and renting it out, we paid 10% to the agent -- they did a great job

BTW you can register the deposit yourself with My Deposits. They don't take the money - just register all the necessary details, so obv. you have to keep that money available for refunds. You print off the docs. to give to the tenant. There is a small fee for the service.
I much prefer to handle this myself.

10% for the first two and 8% the third. We reckoned we are good customers so we negotiated.