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I am a new landlord and need advice on how to charge rent privately

Started by fshah, July 16, 2017, 06:46:42 PM

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fshah

I am looking to find a tenant privately rather than estate agents, can anyone advise how I should market the property and also how to charge rent example with or without bills and council tax costs etc. Advice would be appreciated.

Hippogriff

Leave all bills to the Tenants.

There are various means of finding Tenants on your own. Generally speaking, they seem higher risk than using an Agent to get the property on the main portals. You can use Gumtree or Facebook groups or a card in your local shop window. You then start to wonder about what kind of people you will attract.

However, if it's a complete dive you're letting out, I don't suppose it matters, much, but even things that like look crap today can still be destroyed further.

What is behind your desire to not use an Agent?

fshah

thanks so much for your reply.

I feel estate agents take up so much of your money and I would like to start off trying to find someone privately if I can.

I would like to understand how to position the costs to the tenants for example I can rent this property out for 1000 pm so should I be saying excluding bills or including bills and how do you work out bills etc.

this is my first property and I am very new to the process so all the advice will be truly grateful!

thanks
Fatima

Hippogriff

You don't have to engage an Agent on Full Management. You can engage them on a Tenant Find basis.

Excluding bills - then you don't need to worry about working anything out.

heavykarma

I was lucky with my first BTL as the vendor had a reputable colleague eager to rent.However,after that I soon changed to using agents to find tenants,check credit etc.It is a one-off fee,and you can shop around for the best deal.Doing it yourself, be prepared for a lot of time wasters,no shows and dodgy characters.There really is no need to get involved with their utilities.For the period of the lease-including periodic ones-they are fully responsible.This includes council tax and T.V.licence.Just inform the necessary parties of the name of your new tenant,and the date from which bills should be in their name.Good Luck.