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Use agent or DIY?

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Author Topic: Use agent or DIY?  (Read 102 times)
Newbie
Posts: 4

I like property

« on: January 05, 2022, 10:44:45 AM »

Once one has a tenant in situ is an agent really necessary? I know it makes life easier but how much hassle really is involved? I guess this is a difficult question to answer but over the people on this forum how often are you called out to do repairs or have trouble with tenants? In which situation do you think it is worth having an agent when one is paying them about 10% of the total rent?
Full Member
Posts: 104

Landlord - always learning

« Reply #1 on: January 05, 2022, 02:46:21 PM »

Once one has a tenant in situ is an agent really necessary?

Only you can answer that question given your situation (for example, proximity to the property), the nature of your tenants (who you should have vetted and chosen carefully), and your ability to do the admin work that an agent would otherwise do.

One thing to check carefully is the agent's terms of business that you agreed to. Did you pay them for tenant find only, or tenant find and ongoing tenancy management? Frequently, the terms of business will say that you have to keep paying them for the ongoing service until the tenant leaves if they found the tenant for you, i.e. It may cost you to get rid of the agent.

Quote
how often are you called out to do repairs or have trouble with tenants?

1. Never so far
2. Never so far

But that doesn't help you does it
Global Moderator
Hero Member
Posts: 4353

Abuse Officer

« Reply #2 on: January 05, 2022, 03:21:08 PM »

I know it makes life easier...

How so?

Genuine question.

Because I think it's just a parasitic lifeform adding complexity and confusion by sitting in the middle of a perfectly workable 1:1 business relationship.
Full Member
Posts: 104

Landlord - always learning

« Reply #3 on: January 05, 2022, 04:01:16 PM »

I agree with Hippogriff.

The agent I originally inherited was part of a national chain but they were useless. Screwed up several things.

It took a lot of learning on my part and many emails back and forth with them over a number of months to sort everything out.

In the end I managed to sack them and, with the threat of escalation to their directors and then the ombudsman, got them to agree not to attempt to invoke the clause that would require me to continue to pay them while the tenant remained in the property and got them to refund 5 month's management fees!  Major win :) :)

Since then I have not employed an agent and have never regretted it.

Do your homework Andy (which is more than just asking on a forum) and be prepared to put the work in when necessary. If you can do this, then you are probably better off without an agent - but only you can decide this.
Full Member
Posts: 201

I like property

« Reply #4 on: January 05, 2022, 04:48:27 PM »

A lot will depend on whether you have more money or time.  If you go with an agent then really look into who has a good reputation on the property management side.
Global Moderator
Hero Member
Posts: 1415

I like property

« Reply #5 on: January 05, 2022, 05:47:44 PM »

Unless you live abroad,it is really not that difficult to manage a property yourself. I can't even change a plug so there would be no use in anyone calling me out to do a repair.That is why you need to have some reliable general handyman,unless you are good at DIY.When it comes to dealing with bad tenants,don't get me started.l will just say that I have never had an agent who has been of the slightest use. The last agent I used for management employed a constantly-changing stream of pleasant but gormless young men,I ended up doing all the legwork and worrying myself. 
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