dexterslab12 Posted August 21, 2015 Share Posted August 21, 2015 Hi! First of all - apologies if this is in the wrong area. I had a scan but couldn't see something which covered my questions. Living in Aus, a family member has been staying in the property I own in the UK (with my mortgage and insurance companies knowledge) They are now moving out (things have not gone well between us) and I am now scrambling to let out my house as soon as possible before I go bankrupt through the mortgage payments(!) I'm into my final Year of a 3 Year fixed term so selling isn't really an option given the penalty for early payment... I've done lots of reading so aware of things I need to set up, forms I need to fill in etc. I'm in shock at some of the full management rates and fees estate agents will charge (basically a license to print money!) but think I've narrowed down my choice to the below: Allen Heritage Martin & Co Proctors The Address Winkworth My property is in Beckenham (South East London) - so if there is anyone on this forum who has experience with these companies:notworthy: I would so so so value it as this is new territory for me. Thanks again for reading, G Quote Link to comment Share on other sites More sharing options...
Peachy Posted August 21, 2015 Share Posted August 21, 2015 Once you get some recommendations you can play them off against each other re rates. Most are willing to negotiate - it is easy money for them. Quote Link to comment Share on other sites More sharing options...
fifi69 Posted August 21, 2015 Share Posted August 21, 2015 Apart from Winkworth, I've never heard of the others. We put our house out with a well known national UK company...full managed service. What a joke...no house inspections, no tax paid, I even had to fly back this year to sort the sh1t out. My advice...they aren't worth it. maybe go with a smaller company...not one with a head office elsewhere, cos all you will here from the branch is "its up to head office" We are now renting ours privately, all legal docs can be bought at wh smith or downloaded online. having it rented via an agent, did not help us at all. Quote Link to comment Share on other sites More sharing options...
InOzOneDay Posted August 21, 2015 Share Posted August 21, 2015 I would recommend you find a smaller 1/2 man agency, I've rented through some of the big boys and they dont care, just pass the buck around. Find yourself an agent that is starting out and you will get the time and attention you deserve as your business is worth it to them. Quote Link to comment Share on other sites More sharing options...
dexterslab12 Posted August 21, 2015 Author Share Posted August 21, 2015 Once you get some recommendations you can play them off against each other re rates. Most are willing to negotiate - it is easy money for them. Good tip! I've reached out to those five agents - all of them except for one (The Address) want 12% (inc. VAT)...If I can get that closer to 10/11% (inc. VAT) than that will help me out loads. It is easy money for them! Quote Link to comment Share on other sites More sharing options...
dexterslab12 Posted August 21, 2015 Author Share Posted August 21, 2015 Apart from Winkworth, I've never heard of the others. We put our house out with a well known national UK company...full managed service. What a joke...no house inspections, no tax paid, I even had to fly back this year to sort the sh1t out. My advice...they aren't worth it. maybe go with a smaller company...not one with a head office elsewhere, cos all you will here from the branch is "its up to head office" We are now renting ours privately, all legal docs can be bought at wh smith or downloaded online. having it rented via an agent, did not help us at all. I'm flying back because it was a nightmare dealing with my Sister. I really need a Year where the house can be as 'self-sufficient' as possible and doing it privately is not something I am keen on at the moment although maybe something I re-look at next Year. Can you share who the agent you used was and which area they covered? I've heard good things about Allen and Heritage so they could be good for me....I would be happy to share my experiences with the group in the hope it may help someone else like me Quote Link to comment Share on other sites More sharing options...
InOzOneDay Posted August 21, 2015 Share Posted August 21, 2015 Good tip! I've reached out to those five agents - all of them except for one (The Address) want 12% (inc. VAT)...If I can get that closer to 10/11% (inc. VAT) than that will help me out loads. It is easy money for them! I pay 6% with NO VAT, they will be registering for VAT but then said they will split the difference with me. I have two properties rented out at 695 and 1750... so I guess am worth it to them... but they started at 7% so didn't have to negotiate much... I have no idea how much you are renting it for, but the large the rental income the more you can push them down Quote Link to comment Share on other sites More sharing options...
dexterslab12 Posted August 21, 2015 Author Share Posted August 21, 2015 I would recommend you find a smaller 1/2 man agency, I've rented through some of the big boys and they dont care, just pass the buck around. Find yourself an agent that is starting out and you will get the time and attention you deserve as your business is worth it to them. Another good tip - thanks. 'The Address' look like they fulfill that brief and also do an attractive introductory full management offer so I will seriously consider them if they appear to sound respectful and hardworking. Like you say, they need to deserve my business rather than have them feel it's landed on their lap! Quote Link to comment Share on other sites More sharing options...
dexterslab12 Posted August 21, 2015 Author Share Posted August 21, 2015 I pay 6% with NO VAT, they will be registering for VAT but then said they will split the difference with me. I have two properties rented out at 695 and 1750... so I guess am worth it to them... but they started at 7% so didn't have to negotiate much... I have no idea how much you are renting it for, but the large the rental income the more you can push them down What neck of the woods are your properties in? I'm hoping for around 1600 rental value based on research i've done so i'll be aggressive in the commission they want. What agent are you with? Quote Link to comment Share on other sites More sharing options...
InOzOneDay Posted August 21, 2015 Share Posted August 21, 2015 What neck of the woods are your properties in? I'm hoping for around 1600 rental value based on research i've done so i'll be aggressive in the commission they want. What agent are you with? North and South Cambridge, They are called Oliver James Property Services... but doubt they would work down in south London, but no idea may work that far... Quote Link to comment Share on other sites More sharing options...
dexterslab12 Posted August 30, 2015 Author Share Posted August 30, 2015 @InOzOneDay - I meant to ask what the deal is with VAT...is it something that I can claim back if i'm living overseas? Quote Link to comment Share on other sites More sharing options...
Alaska Posted August 30, 2015 Share Posted August 30, 2015 I find it's all down to the individual that is dealing with your account rather than the company. When we first let out years ago, I had a few around. One woman really impressed me - had been there for ages, really thorough and knew her stuff. Agreed the deal. She left the next week and never saw her again! The person who took over was appalling. When we emigrated we went with a small company who were known to us. They were generally fantastic and a much much better and more personal service than the larger company we had previously dealt with (who overpaid us, underpaid us, did no inspections, sent us the wrong statements, renewed a lease without asking us (!!!!) etc). The other thing is to make sure you arrange your mortgage so you can let out. Our lender did a "consent to let" which we could have until the end of the fixed term at the same rate (with a small set up charge). It's also worth doing the taxes yourself and doing the paperwork to do this so the agent doesn't take out the percentage automatically. We found it much better to do it ourselves financialy. Good luck. Quote Link to comment Share on other sites More sharing options...
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