Landlords - use agent or DIY?

[Mrs M]

We are in the process of purchasing a 2 bed flat to let.
We let a 1 bed many years ago and had a bad experience, but older and wiser so going for it again.
Have done a lot of research, know our target client, also rules and regs and work involved.
Just looking for some current landlord advice on the best way forward, many thanks in advance.

 

[Profpointy]

I rented a house once (I was tenant) and the latting agent, and ex-mayor of chippenham no less, did a runner with 3 or 4 months rent from his many clients. The landlord dealt with us direct afterwards. And a pallnof mine lost several months' rent when his agent ripped himoff.

If you have bad tenants , you'll lose money agent or no agent. If you have good tenants and bad agent you're still up the swannee.

 

[Profpointy]

I rented a house once (I was tenant) and the latting agent, and ex-mayor of chippenham no less, did a runner with 3 or 4 months rent from his many clients. The landlord dealt with us direct afterwards. And a pallnof mine lost several months' rent when his agent ripped himoff.

If you have bad tenants , you'll lose money agent or no agent. If you have good tenants and bad agent you're still up the swannee.

I probably should add that agents should market the property for you, find and (however nominally) vet tenants, but day to day, not sure the value is worth their corkage

 

[Mrs M]

When we let the one bed flat many years ago, the agent found the tenants, drew up the lease, etc.
Had 2 girls in first and they were great, no problems.
Then we had 2 lads who made a right mess. The agent did an inspection and charged us, then gave the lads their full deposit back. We had to recarpet, redecorate and scrub the place to make it habitable again. Sold the flat after that experience .
Just wonder if it's a case of if you want something done properly, do it yourself?

 

[Over The Hill]

I have rented out 3 houses for about 10 years.
Back 10 years ago I did it myself and put an ad in the paper.
For about 5 years now I have used an agent.
They will do photos, have access to rightmove (where tenants look), show tenants round, do checks on them and get an application free from them. Also they present a professional front. All this for £250 a time that you can claim on expenses.
They also have got a better rent than I had expected and more than paid their way.

I have them find a tenant but have no ongoing contact with the agency - do the deposit yourself and the agreement yourself.

You cannot get the rental on line and in front of the right people by a diy ad in the paper. You will get all the people that the agents turn away calling you.

Good luck!

 

[Saluki]

When I rented my house out (I was out of the country for a year) my Dad did everything. Dad wanted a 'no pets' policy so let my house to some woman with 3 brats who destroyed the place. Dad called out twice on Xmas day to unblock the loo (Lego and toy soldiers down there). When I went away again - another year - Dad did everything but had a 'no kids' policy and let to a couple with a pair of GSDs. House was perfect when they left, nicer than when they moved in as they decorated to their own taste.
No agent either time. We had no problems with rent either time and the first woman lost her deposit. Not all agents are as honest as they could be IMO.

If I was letting a house out again (never going to happen but as an example), I'd have a 'no kids' policy and let to someone with pets. I wouldn't use an agent if it was just on property either.

 

[Mrs M]

I have rented out 3 houses for about 10 years.
Back 10 years ago I did it myself and put an ad in the paper.
For about 5 years now I have used an agent.
They will do photos, have access to rightmove (where tenants look), show tenants round, do checks on them and get an application free from them. Also they present a professional front. All this for £250 a time that you can claim on expenses.
They also have got a better rent than I had expected and more than paid their way.

I have them find a tenant but have no ongoing contact with the agency - do the deposit yourself and the agreement yourself.

You cannot get the rental on line and in front of the right people by a diy ad in the paper. You will get all the people that the agents turn away calling you.

Good luck!

Thank you very much.

 

[Dave 123]

Sadly we use an agent. It costs 1/6th of the rent and it breaks my heart, but they do the dirty work!

 

[Mrs M]

When I rented my house out (I was out of the country for a year) my Dad did everything. Dad wanted a 'no pets' policy so let my house to some woman with 3 brats who destroyed the place. Dad called out twice on Xmas day to unblock the loo (Lego and toy soldiers down there). When I went away again - another year - Dad did everything but had a 'no kids' policy and let to a couple with a pair of GSDs. House was perfect when they left, nicer than when they moved in as they decorated to their own taste.
No agent either time. We had no problems with rent either time and the first woman lost her deposit. Not all agents are as honest as they could be IMO.

If I was letting a house out again (never going to happen but as an example), I'd have a 'no kids' policy and let to someone with pets. I wouldn't use an agent if it was just on property either.

Thank you.
Putting x2 double beds in property to keep the kids out
Strangely enough got the "rules" of the development in post today and no rabbits allowed.

 

[Saluki]

Thank you.
Putting x2 double beds in property to keep the kids out
Strangely enough got the "rules" of the development in post today and no rabbits allowed.

Can I rent then, I'll bring Guinea Pigs

 

[Levo-Lon]

You can get insurance for most things buy to let..
im curentely looking into this.
my neighbour is a mortgage abviser and has a few houses.
he has them all done through agent.let them do the hard work..

 

[Markymark]

Depends whether you want phone calls at 3 in the morning because a light switch has stopped working.

 

[screenman]

Sadly we use an agent. It costs 1/6th of the rent and it breaks my heart, but they do the dirty work!

Surely it is money well spent, otherwise surely you would go the other route.

 

[ColinJ]

My family used an agent for our late mum's property. He was useless. The tenants he found for us were horrendous.

We ended up stressed out, with a damaged house, thousands of pounds of rent lost etc. ... The icing on the cake was when we started getting council tax bills for the 'empty' house. The tenants told the agent that they had moved out while they were still living there and he confirmed to the council that the house was empty!

The tenants finally left after using our unpaid rent money to pay an uncle to do up a house down the road. They actually told us that! How could we expect them to pay a bunch of money-grabbing b*st*rds rent when they needed the money to buy a house?

They left loads of crappy stuff behind. We changed the locks and phoned them to tell them that they needed to arrange a time to collect it. If they didn't reply within a week then we would get rid of it. They didn't bother calling us, preferring to break in instead. A neighbour rang to tell us what was happening but the police refused to turn out, saying that it was a civil matter.

Apart from that, our experience of using an agent was great!

 

[Mrs M]

We are

My family used an agent for our late mum's property. He was useless. The tenants he found for us were horrendous.

We ended up stressed out, with a damaged house, thousands of pounds of rent lost etc. ... The icing on the cake was when we started getting council tax bills for the 'empty' house. The tenants told the agent that they had moved out while they were still living there and he confirmed to the council that the house was empty!

The tenants finally left after using our unpaid rent money to pay an uncle to do up a house down the road. They actually told us that! How could we expect them to pay a bunch of money-grabbing b*st*rds rent when they needed the money to buy a house?

They left loads of crappy stuff behind. We changed the locks and phoned them to tell them that they needed to arrange a time to collect it. If they didn't reply within a week then we would get rid of it. They didn't bother calling us, preferring to break in instead. A neighbour rang to tell us what was happening but the police refused to turn out, saying that it was a civil matter.

Apart from that, our experience of using an agent was great!

Oh pants, the wheels are in motion, no going back