emmyjc1

Is anyone renting there place in the UK - if so what sort of % do you pay the agent - I have been quoted 11% for my 1 bed flat that will go for about £600 per month.

Speargun

that sounds about the industry average...basically ive found some agents can charge as low as 7% - but most are charging 10 to 12% fully managed service.

Unless you just go for a tenant find...and make it a 12 month minimum tenancy??? Guess it depends on how long you are staying

sormesher

hello,
we rent two properties in the uk, one agent charges 10% another 12%, there is an agent who charges 8% in the locality. you should also look at their additional charges, when we were looking around there was one agent who charged £25 each time they wrote a letter, or £50 when they carried out an inspection to the property, also publicity costs can vary so make sure you ask for any hidden costs.
i dont think you can have a minimum 12 month tenancy as an assured shorthold you might have to give the tenants a 6 months tenancy and if they like it they will most likely renew. although the agent normaly has enough notice to re advertise the property and get someone in.
when we rented out our two properties initaly it took about a month until the tenant moved in.
good luck

stu:0

Im renting mine out. Im in the lake district and there all 12% round here. Struck lucky though and managed to find a couple to rent it from work. They are looking for long term rent up to 3 years, suits me fine! Iv a had a contract done by a mates mother that runs a rental agency so its all legit! Saved meself £80 a month in agent fees. Given them a list of all my mates that are tradesmen to do any work that may need doing and wrote it into the contract that my dad will inspect the house every 2 months!

Stu

Mrs Jackaroo

We pay a flat 10% (which includes VAT)

mad.chef

hello all
we are going to rent our house out to my wifes brother.so we dont have to pay any fee.also he is getting a good deal, we are leaving half our things for him aswell.we will see if we want to stay forever in australia first before we sell, or have it as our pension who knows
Dave

Ruthyman

Hi
ours is in SE London, we pay 8% and have an agreement for assured rental for a fixed period of a year with hc tenant. Its been brilliant and we feel we are doing something for the local community as well.
The agreement is a normal shorthold tenancy with the usual bond as well so no problems getting house insured etc.
Both agent and tenant have been fantastic, we get the house back in the same state we left it and if I had to do it again I would.
Rent is slightly lower than for private but I would rather chase my money/repairs with a local govt agency than a private tenant!

h2oskineil

Check out landlord insurance... we use http://www.letsure.co.uk/

Quote...........

Tenants can fall into arrears for many reasons, even those with favourable references. Can you afford to lose monthly income?

In an uncertain world, it's good practice to obtain protection. Tenant's circumstances can change for any number of reasons, so it's prudent to minimise the risk to your income. Rentsure Silver can assist to protect your rental income. The insurance provides:

Rent Insurance; protection to pay the monthly rent for up to 12 months on breach of tenancy agreement
100% of the rent paid until full and vacant possession is obtained
75% of the rent paid for up to 2 months once full and vacant possession is obtained until the property has been re-let
Covers monthly rents up to £5,000 (or higher upon request)
Covers Legal Costs:
to obtain possession of the property on breach of the tenancy agreement
to defend a Legal Action brought against you by your tenants
to remove squatters
Pays the cost of alternative accommodation up to £50 per day or a maximum £1,500 per claim
Cover is only available for properties to be insured within England, Scotland or Wales
Insurance premiums are a tax deductible expense
A Letsure Comprehensive Tenant Assessment will satisfy all the referencing requirements of Rentsure Silver Insurance. The Letsure Tenant Referencing Service is available online.
****************

Also have British Gas Homcare 400 plan so that everything from wiring to gas pipes are covered should there be a problem.
https://www.britishgas.biz/boiler_br...meCare400.aspx

Neil.

isgraham

Agency fees are tax deductable so over a tax year the government will pay for them. Therefore cost to you will be 0%.