Do letting agents add value?

Gordon Gekko said:

A good pal of mine got a tenant through an agency last year. The guy ticked every box imaginable; I’d have gone for him myself. And then he just went rogue. It can be just bad luck.

The law is an ass unfortunately; bad tenants and bad landlords should both be hammered.

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Hey Gordon do you mind letting me know who you used, I have to pick one & it would be good to have someone who you were happy with.

@Sanderson many letting agents are small. It makes sense to get one that is close by, all else equal. Some of them do sales as well but it is a pretty different business than selling big houses in Monkstown like Sherry Fitz does.

If you have an apartment try to find a letting agent that already does management for other units in the same development as they will know the ins and outs.

Agents are not a panacea though. If a tenant stops paying rent there is not much the letting agent can do.

Fees in my experience are in the 5%-8% range plus VAT @23%. Deductible against tax of course.