Estate Agent Annual letting Fee

[DonKing]

I contacted an estate agent about renting my property and they have informed me of a part management service which they have.

The fee is less than 6% annual rent and includes normal sourcing of tenants, changing over bills, registering with PRTB, notifying tenant of inspection visit, drafting contract, point of contact for tenant. It doesn't include the agent inspecting the property, you have to do that yourself.

Previously, I just used another agent just to source a tenant and set up contract. From memory it was a once off fee of one months rent.


What I like about this annual fee basis is that it may reduce the likelihood of unoccupied periods as it will be in the agent's interest to keep the rent coming in.

Am I not thinking straight? Should I just go for a one off fee basis? I'm not too keen to start sourcing a tenant myself.

 

[rabbit]

I'm not too keen to start sourcing a tenant myself.

Why not ? Its easy, and the best way to get the best tenant, I found. Estate agents , in my experience, just take the money and the easiest way out. Plus I find that tenants are more likely to take care of the furnishings / property if they have a face they can put on the landlord, so to speak.

 

[Luternau]

You have not said where the property is. Some agents are good in some areas and bad in most of the others. Some as the previous poster said are just after the money and are lousy.
I have a few places rented out and go through an agent. They charge 7% for a full management service that is well worth it. They inspect regularly.