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Cost-effective Online Agent - AST Drafting and Rent Collection


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Hi Team,

I have found my tenants and am trying to find the most cost-effective online agent.

Wondering if Openrent is too cheap to be true (49GBP for AST drafting and rent collection)?

Do you have any experience with them? Would you recommend / suggest other sites?

I am planning to ad custom clauses (RPI adjustment annually from Y1 even though its a 2y contract), inclusion of cleaning lady (paid by me) and also separate blling (bills to be sent by me) of hot water (it's a communal hot water system) based on tenant's consumption.

Thank you in advance for your help!

Kind regards,

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With all the legislation required with letting its a good idea to check whoever & whatever you choose as Agents are going to handle the necessary work of drawing up and administering requirements e.g......

* AST (contract) & any extra clauses.

* Deposit protection & prescribed information.

* References/  rent guarantee insurance/ guarantors.

* Inventory & schedule of condition.

* Standing Order form for rent payments.

* EPC certificate

* Gas & electrical safety certificates.

* Government booklet ' How toRent'.

* Legionella - tenant advice sheet.

* List of restrictions of leasehold property.

* Smoke alarm working form.

* Instruction books (detailed on inventory).

* Template for reporting repairs in writing.

* Immigration / Visa checks.

* Carbon monoxide alarm working form.

* How to control condensation booklet.




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I can't help you as my business model is completely different.

A firm offering to draw up an AST & collect your rent for £600 a year doesn't sound to far removed from reality, provided that's all it includes. But it's all the other stuff on the list that's likely to cost more......deposit protection, inventory, regular inspections etc. You need to decide what you are prepared to handle personally and get a price for the rest of it.

Who decided on a 2 year contract ? Normally AST's are 6 or 12 months. Why tie yourself into a 2 year contract......we normally start with a 6 month and see how the tenant performs before committing to anything longer.

Sometimes the best place to start is a local landlord association. If there are other landlords who let at or through the Uni surely they would be the best people for you to initially take recommendations from.

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I agree, 6 month tenancy to start with and consider a longer one at a later date when you have established how good the tenant is. If Open rent are pushing for a 2 year tenancy I suspect the reason is to keep you tied in. It is not in your best interest to start off with a 2 year tenancy. "Cost Effective" should not be your leading consideration when choosing an agent as SO many things can go wrong and you are likely to get a more personalised service from a local agent who knows the local market and also a lot of the local tenants and which ones to avoid which a electronic reference will not necessary pick up upon.  


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