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Old 06 August 2010, 09:01   #31
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agents

We have a couple of houses that we rent out in WSM, we use an agent to find the tenants, for this they charge 199 plus vat, i think it is good value and we can stipulate the criteria, previously we put and add in the paper to save cash and had to do a total refurb when we eventually "persuaded" him to move out.
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Old 06 August 2010, 10:06   #32
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Quote:
Originally Posted by slimtim View Post

Neil, not sure about renewal. Could I not just renew with the tenant myself? The agent is redundant after the initial search and checks surely?
If the agent has found you the tenant, then they will make a charge to renew that tenant - despite the fact that they have done nothing. In my case, I did not check the wording or consider this point closely enough and, at renewal, I'm paying over 5k in commission for Hamptons to do absolutely nothing except sit back. My fault for not dealing with this at the outset. Levels of commission should, by rights, reflect the amount of work done - this is not the case in tenancy renewals.

It is worth remembering that the tenant is 'their' tenant and so they will make a charge. You just need to make sure you've got this base covered at the beginning.
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