Property managment company Manchester

Hi.

I bought a house in manchester 3 years ago, the company I purchased from also have a property management service which they charge me 12% + vat per month on the rent They employ another company called happy homes that let the houses out to asylum seekers, the rent now is £150 per month less than 3 years ago. has anyone any similar experiences on this type of BTL?
Anyone know anything about happy homes?

Is that rent "150 pounds less than three years ago", or "150 pounds, less than three years ago" ?

If you are only getting 150 a month you are being screwed; rents are about 400 pounds for a two-up two-down in most areas (unfurnished).

A lot of people have now dumped the whole asylum seeker/DSS tenant market in favour of ordinary tenants who are working and will pay around 400 pounds, less hasssle too. The lower end of the market, where you are working, is full of problems and grief for landlords.

You didn't say which area in Manchester you are in. Might be better options than the one you are using, although 12% plus v.a.t. is ok if they are doing the business for you.

Hi Auto.

The rent I am getting now is £700 per month before management fees, I was getting £850. The house is a 4 bed in Grecian Street North, Salford.

Thanks for clarification. You are not doing badly at that rate, probably a bit lucky with the 850.

Only thing that puzzles me, if it is the same tenants, how did the rent drop?

last year they changed from the original company to happy homes.