OxDoc Posted August 27, 2019 Report Share Posted August 27, 2019 Hello, I was wondering has anyone here used online letting agents for finding tenants and/or managing their rental property, and if so who did you use and what was your experience like? I'm going to rent out my flat for the first time, and want somebody competent to manage it as I will not be in the city, so I'm wondering can they give a service that is good enough compared to using a regular letting agent? Quote Link to comment Share on other sites More sharing options...
Grampa Posted August 27, 2019 Report Share Posted August 27, 2019 Why use an online agent? Quote Link to comment Share on other sites More sharing options...
Richlist Posted August 27, 2019 Report Share Posted August 27, 2019 If you're going to employ a lettings agent to fully manage a property (as opposed to a lettings agents that provides a find service only) you are well advised to find an agent through recommendation. There are so many poor agents around who will promise everything & deliver very little, have little knowledge or experience and will disappoint you. Why do you think online agents are any better ? Quote Link to comment Share on other sites More sharing options...
OxDoc Posted August 27, 2019 Author Report Share Posted August 27, 2019 Grampa - basically, price. My flat is in a fairly high-rent area, and agents want 11% of the rent plus VAT, which comes to ~£160/month. Online agents seem to want far less than that (I've seen one for £35/month and one for £79/month). I worked out an approximate hourly rate for property managers' based on the high street agents' charges and the number of properties they manage and it's well into the three figures, so it seems that much better value should be obtainable. Of course I will negotiate with them a bit more to try to come to a reasonable price, but it's good to know if I should actually consider the online agents. Richlist - I agree, hence why I'm asking about people's experiences. Of course it will probably vary by location, but getting a gist is a good start I think. Quote Link to comment Share on other sites More sharing options...
Grampa Posted August 27, 2019 Report Share Posted August 27, 2019 You can get a cheap service or a good service. Very rarely can you get both at the same time. You get what you pay for. Quote Link to comment Share on other sites More sharing options...
Carryon Regardless Posted August 28, 2019 Report Share Posted August 28, 2019 If online only then they may well have little or nothiong of substance to lose and for you to claim for in the event, see the other thread running about a poor agent. If they run this as here today gone tomorrow you might find them enjoying what revenue they can and not passing it on to their clients, especially as the 'run' day approaches. Is there any personal liability with this agent? Quote Link to comment Share on other sites More sharing options...
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