Change letting agency

[Grampa]

I know not all the regular users of this forum use a Letting agency or only in a limited capacity such as tenant find but I wanted to pick your combined brains.

It is reported that a lot of landlords are not happy with their letting agent or certain parts of their service such as lack of communication, extra charges etc. but many are reluctant to change agency.

I know the one of the reasons are the possible charges by the agency to change and keep the tenants.

What would appeal or incentivise you as a landlord to change agent whether you had issues with them or not?

Any thoughs even if you are happy with your agent.

[Richlist]

Here's my take on it....hope it helps:

I've been with the same agent since 1999. They provide a tenant find service & also do most of the documentation for me.....AST, deposit protection, refs, RGI/ guarantor etc and provide help & assistance as needed. There are lots of benefits such as them not charging me for new AST's etc. They handle all of my residential lettings so I'm able to negotiate a discount. They aren't perfect but after 15 years I know their strengths, weaknesses, likes & dislikes & they know mine.....and I know I'm a real PITA sometimes. I still check everything they do, I insist on copies of everything and they aren't allowed to make decisions or choices without checking with me first but.....it all works incredibly well 99% of the time. I like them so much I buy them a crate of wine at Xmas.

What would make me change agents........I can't think of anything.

* I'm not driven by lower costs because I don't believe I could get a better service for significantly less elsewhere. Lets face it, savings would have to be significant, a few hundred pounds a year savings could result in major hassle....so no thanks.

* One dis-incentive would be dealing with the new agent who would be a complete unknown.

* There sees little opportunity to carry out any worthwhile 'due diligence' on a new potential agent.

[Richlist]

* There sees little opportunity to carry out any worthwhile 'due diligence' on a new potential agent.

To expand this point......its almost easier to check out a new & unknown builder than it is a lettings agent. At least with a builder you can ask to see some of their previous work, they may have a photograph album of previous projects they have completed, they may be referenced on some of the web sites and they may come with a recommendation.

With lettings agents in generally boils down to recommendation only.......or, as is often the case, nothing at all.

[Melboy]

The only LA I have used in recent years is our own forum member Trenners who owned and ran his own LA but sold out and retired to life of luxury in Tenerife.

It was a good relationship and I have no complaints at all about his staff or the way my letting was handled etc..

In past years of using an LA I found it was a lack of communication and basic LA/Landlord knowledge I found so frustrating. This led me onto doing everything myself because I honestly believed I could and I did, do a better job than they could and it kept me in control of my properties as well.

If you are an organised person with an attention to detail and prepared to put in the time and effort then there is no reason why you shouldn't run your own empire......... if your not then it's a good LA for you, preferably one that comes recommended to you.

[Grampa]

RL I totally agree, there are a number of review sites for agents but from what I've heard they are very difficult to amend or reply to when you get an incorrect or malicious review so I (and many other agents) are reluctant to register.

I have a book full of good to excellent testimonials but people do take testimonials with a pinch of salt because they can be made up so easily. We used to be members of ARLA but I think we only got 2 enquires off the back of it so it wasnt worth the cost.

Bottom line is "better the devil you know"

[Bal Hir]

Sometimes, not all estate agents provide a good clean service that clients would expect. It's not easy to choose a reputable agent unless its come through recommendation. At Find Me a Landlord, we allow landlords to upload and manage their own portfolio without charge, hassle or headache.

[Dave A]

Aggrevates me when people try promoting their own business on here with something that is clearly unpopulated. Just tried a search for two cities and one town familiar to me. All in the private rental sector, with a 10 mile radius and no other specific requirements. Results; zip, nada, nothing. Same old load of excuses on the way no doubt.

Dave

[Melboy]

This advertising malarky has got so bad around my area........ the online agents are placing their advertising signs on grass verges by the main roads which contravenes Council by-laws and you can be fined which is why main letting agents don't do it.

The growth of on-line UK letting agents runs into the thousands and non of them seem to get any properties that could make the business viable.

[Mortitia]

I have the same take on this as RL. I have used one letting agency for tenant find only since 2002 - they know me and the sort of tenant I am looking for.. We have a fixed rate one off fee - continuity of staff helps and I always recommend them to others. Their fee is reasonable but I do all the viewings and the money is not that important - it is the suitable, qualified renters they put before me that counts.

Often I come across tenants who have used other agents and had bad experiences and I often meet agents who are cribbing off me because they are useless at the job. (Usually the estate agent who has gone into letting as business on sales has been slow.)

What would it take me to change - well only if the agent I use closed.

[Grampa]

There's the answer then. Any suggestions out there to close down the competition? Foul means or fair.

Jokes asides though, you have confirmed what we have found and landlords don't change agents if they are happy I think I have lost no more than 1 or 2 in the last 3 years and they were just bloody difficult and unreasonable and I was glad to see the back of them.

The questions is I hear some awful horror stories from landlords about agents they use but they still continue with them. Why??

[Richlist]

Any suggestions out there to close down the competition? Foul means or fair.

Well it doesn't always follow that ....because the competition remains in business and is able to retain 'some' of its landlords....that its profitable or viable. I know its always difficult to gain reliable data from a non limited liability co or one that is not available for sale but if you are already in the business one way of eliminating the completion is to merge, buy or close it down.....non of which is particularly cheap.

The questions is I hear some awful horror stories from landlords about agents they use but they still continue with them. Why??

I think you already answered this question yourself, it was along the lines of. .....'better the devil you know'.

If you're a small time landlord with a poor agent, how do you go about finding a better one ? You may not know many or any other landlords who can provide a recommedation. Those you know may already have problems themselves. Finding a good agent is quite difficult. Many landlords go with one that has a shop on their local high street or a big national name.....neither of which guarantees good service. Those of us with good ones are there probably more by luck than judgement.

[Grampa]

We have been in the market for buying up agencies since we started. I have 3 bubbling in the back ground at the moment which total about 200+ properties which may or may not come to anything. The cost isn't normally a issue because we try to structure the payment by instalments after the first down payment if possible and any extra income goes towards the sale price and is normally paid off in full within 12-18 months.