Landlords - use agent or DIY?
- Thread starter Mrs M
- Start date
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OP
OP
Mrs M
Guru
- Location
- Aberdeenshire
We are hoping to attract good tenants but it is a lottery as you say.
By managing things ourselves at least we can meet folks before handing over the keys, but this itself is no guarantee.
Our friend manages his own properties quite successfully, (might offer him the job) but he is very firm and business like.
I'm worried we'd be too soft. We do want to be fair and provide quality accommodation but not be at beck and call to change a lightbulb.
Make sure you get the right agent. Bad agent = bad tenant!
In my experience the tenant has to be someone in full-time employment. Make sure you know about them. Agent does the checks for you, then you check that you are happy with what the agent has found out. If in doubt, find another tenant. If not happy with what he agent did, find a new agent.
Check the property regularly (with tenants approval obviously). It only takes 10 minutes.
Get to know the tenant. Ask them if anything is wrong, then fix it!
Don't rely on the agent for "maintenance". They charge around 10% and still charge you for theidiot expert to fix any problems reported.
In my experience the tenant has to be someone in full-time employment. Make sure you know about them. Agent does the checks for you, then you check that you are happy with what the agent has found out. If in doubt, find another tenant. If not happy with what he agent did, find a new agent.
Check the property regularly (with tenants approval obviously). It only takes 10 minutes.
Get to know the tenant. Ask them if anything is wrong, then fix it!
Don't rely on the agent for "maintenance". They charge around 10% and still charge you for the
OP
OP
Mrs M
Guru
- Location
- Aberdeenshire
Thanks for all the advice, think we're going to be very busy but hopefully worth all the effort. 
New bike on hold indefinitely though.
New bike on hold indefinitely though.
ColinJ
Puzzle game procrastinator!
- Location
- Todmorden - Yorks/Lancs border
Just get some good tenants in and you should be fine!Oh pants, the wheels are in motion, no going back
Dave 123
Legendary Member
- Location
- Cambridgeshire alps
Yes and no. Most months they do very little.
We are in the second month of having new tenants and the agent earned their money that month by sorting us out with nice people.
Over The Hill
Guru
- Location
- Ridden off into the sunset
Just to be clear, agents will want to try to do everything.
Basically you get them to -
Just find the tenants. Remember this happens about once a year or so is an ongoing issue.
They check them out negotiate the rent, show them round and crucially put the ad in rightmove.
This is a one off fee.
Then next level, they sort out the deposit guarantee and draw up the tenancy agreement.
Again only when new tenant is needed and old one goes. They like this as you are more likely to go back to them.
After that you move on to them having an ongoing management deal.
They take a cut of the rent and are generally the first port of call for the tenant if a problem comes up.
Fine if you are hands off or live far away. But this does cut into the profit or indeed take all of it and more.
But if you look after your own house, and think you can do the same for the renter then really you can look after it.
Each way has its benefits depending on your situation.
Basically you get them to -
Just find the tenants. Remember this happens about once a year or so is an ongoing issue.
They check them out negotiate the rent, show them round and crucially put the ad in rightmove.
This is a one off fee.
Then next level, they sort out the deposit guarantee and draw up the tenancy agreement.
Again only when new tenant is needed and old one goes. They like this as you are more likely to go back to them.
After that you move on to them having an ongoing management deal.
They take a cut of the rent and are generally the first port of call for the tenant if a problem comes up.
Fine if you are hands off or live far away. But this does cut into the profit or indeed take all of it and more.
But if you look after your own house, and think you can do the same for the renter then really you can look after it.
Each way has its benefits depending on your situation.
Been a landlord for 30+ years.
I've been using agents to find the tenants, then vet the tenants and then draw up the documents for the last couple of decades.
They charge about 12% for the work
I then take over the management thereafter
In all the years I've mostly had good tenants, a few I've had issues with, and only one I've had to take to court.
I have very strict policies of the people that I will let to, so pets, not keen on children, no smokers, no young students, (mature ones are OK), no people from certain counties (the agents wont touch them either), no one without good job references that go back several years. no friends or family and obviously no DSS (DSS are excluded on all BTL mortgages in any case). Written down it may look like a list written by a xenophobic member of UKIP, but when I'm lending quarter of a million pounds worth of kit to someone, I want to be damn sure I know who they are and what they will do with it before I even consider it.
I've been using agents to find the tenants, then vet the tenants and then draw up the documents for the last couple of decades.
They charge about 12% for the work
I then take over the management thereafter
In all the years I've mostly had good tenants, a few I've had issues with, and only one I've had to take to court.
I have very strict policies of the people that I will let to, so pets, not keen on children, no smokers, no young students, (mature ones are OK), no people from certain counties (the agents wont touch them either), no one without good job references that go back several years. no friends or family and obviously no DSS (DSS are excluded on all BTL mortgages in any case). Written down it may look like a list written by a xenophobic member of UKIP, but when I'm lending quarter of a million pounds worth of kit to someone, I want to be damn sure I know who they are and what they will do with it before I even consider it.
OP
OP
Mrs M
Guru
- Location
- Aberdeenshire
Thanks, all very good advice.
We don't live too far from the property so thinking about managing it ourself (we can keep an eye on it).
Also we have someone competent and reliable lined up for any repairs, he does all the work on our friends properties.
I would prefer to use an agent for the advertising, finding tenants, etc as you do.
Have been checking out the competition in the same development and the flats seem to be renting well so here's hoping.
Dope farms ?
classic33
Leg End Member
Had two locally. One rented out through the owner, the other a letting agent had full control.
Both three bedroom properties, with half the house turned over to "agricultural means".
OP
OP
Mrs M
Guru
- Location
- Aberdeenshire
Bumping this up so not to start a new topic...
I'd appreciate thoughts from the CC collective!
I'm a private landlord of a wee house that we bought as our first home. We have been renting it out for over 6 years with no real issues. We're onto our 4th tenant. This morning she texts me to say that there was a rat in the kitchen and that pest control were out at the house. It turns out the pest control guys said the rats were accessing the house via an underground drain and that it needs a 'ratcatcher' device installed and they recommended another company to do it. I then contact the second company and arrange for them to attend tomorrow morning and agree a price. The tenant then messages me again with the total for this morning's pest control service. The bill is just over £200 for this mornings call. Now, the contract that we have between ourselves says:
"If repairs are necessary for which the Tenant is not liable the Tenant should notify the Landlord of the repair with 24 hours but should not arrange or give instructions for any repairs to be carried out apart from in an emergency except at the request of the Landlord or the Agent. Should the Tenant fail to comply with this provision he/she shall be liable for the cost of any repairs carried out."
I have told the tenant that she should have contacted me prior to ringing her own pest control service. As per the contract, she is liable for the cost of them. She is now claiming that it was an emergency and a health and safety matter. Now, 95% of house repairs can be classified into the broad 'health and safety' boundaries and yes while rodents are unpleasant, I don't constitute it as an emergency i.e. life and death matter or house crumbling on top of her. I have tried to be understanding though and have offered to meet this morning's cost 50/50. I don't feel I legally have to but would have had to call someone out regardless so feel I'm being fair. I wouldn't have used the company she did and they are more expensive than previous companies I have used. She has literally just started into another 12 month tenancy, like literally, and that means that I also have to be cautious that this doesn't become overblown. As it is, she's refusing to pay 50/50.
I'd appreciate thoughts from the CC collective!
I'm a private landlord of a wee house that we bought as our first home. We have been renting it out for over 6 years with no real issues. We're onto our 4th tenant. This morning she texts me to say that there was a rat in the kitchen and that pest control were out at the house. It turns out the pest control guys said the rats were accessing the house via an underground drain and that it needs a 'ratcatcher' device installed and they recommended another company to do it. I then contact the second company and arrange for them to attend tomorrow morning and agree a price. The tenant then messages me again with the total for this morning's pest control service. The bill is just over £200 for this mornings call. Now, the contract that we have between ourselves says:
"If repairs are necessary for which the Tenant is not liable the Tenant should notify the Landlord of the repair with 24 hours but should not arrange or give instructions for any repairs to be carried out apart from in an emergency except at the request of the Landlord or the Agent. Should the Tenant fail to comply with this provision he/she shall be liable for the cost of any repairs carried out."
I have told the tenant that she should have contacted me prior to ringing her own pest control service. As per the contract, she is liable for the cost of them. She is now claiming that it was an emergency and a health and safety matter. Now, 95% of house repairs can be classified into the broad 'health and safety' boundaries and yes while rodents are unpleasant, I don't constitute it as an emergency i.e. life and death matter or house crumbling on top of her. I have tried to be understanding though and have offered to meet this morning's cost 50/50. I don't feel I legally have to but would have had to call someone out regardless so feel I'm being fair. I wouldn't have used the company she did and they are more expensive than previous companies I have used. She has literally just started into another 12 month tenancy, like literally, and that means that I also have to be cautious that this doesn't become overblown. As it is, she's refusing to pay 50/50.
But Mrs Postman dug her heels in and the bast--- got nothing out of our Dan.
