Some people just go into a local agent. I tried that first. They did not deal with my property's area. But two agents told me they had multiple branches all over London, the UK, even overseas. They would direct the would-be tenant to the branch nearest my property, whose staff would take a key from me and conduct viewings.
Finding Agents
I contacted 13 agents. I made a list of them. My husband said, pick your three favourites. I started with the two nearest the property. Then one online which had another flat in my block. Then one which did a video as well as a photo.
Then I looked at a comparison site - and two agents phoned me.
Two agents I had dealt with before and remembered me or another member of my family.
Finding A Tenant
If you have a good letting agent, that is wonderful. If not, what then?
You might be able to get your tenant to find a relative or colleague to take over the tenancy. Ask the tenant.
If you have a good tenant, you might keep their contact details and tell them if they have relatives to contact you.
If you get on well with an employee of an agency, you might keep in touch with them if they move jobs to another company or another area or even overseas.
Find your contract and review it well in advance.
Keeping A Tenant Happy
You could give your new tenant a list of local businesses, especially those who are useful, such as plumbers, painters, furniture sellers, restaurants, parks, gym. In the USA, estate agents would supply an envelope of coupons. I suspect that they charged a fee to businesses for issuing the packs, or an intermediary firm offered this service of leaflet packages to estate agents.
Company Lets
A large company instead of finding accommodation for each new arrival from overseas might buy or rent a house. Visiting staff, or newcomers, then inherit bedding and kettles left behind, can form friendships with other staff, or share rides into the office.
Comparing Agents' Fees - Letting and Management
You can look for the agent nearest the property. Or the agent who has lots of property in your area and price range.
If you have time, you might shop around for a good deal.
If you are short of time, or live overseas, it might suit you to opt for management.
Sole Agency
One agent told me he would only deal with sole agency. Another said he would at lease like to have two weeks as the sole agent. He said, 'If I have sole agency I will put more time and effort into it. Pay less, you get less time and attention.'
Another agent laughed at that idea. She said, 'letting is not like selling a house'.
An agency in a poor area will have more clients on a low budget. It will take them longer to find somebody who pays well.
An agency near an embassy and west end businesses is more likely to get high paying tenants. An agent near a university is more likely to get lots of students looking for student lets.
An agency nearby might ask for a key so they can take prospects to view the property.
A far away online agency might employ a local person for an hour a week to show all enquirers for your property, perhaps six prospects at 15 minute intervals.
One agent offered to come to my home to meet me. She liked the restaurants in my area. I thought that was very jolly and enterprising of her.
Then I read her terms. The high fee she wanted to charge me would easily cover a taxi fare.
Letting Price Point
The agent wants to see the property in order to suggest a realistic price, or suggest improvements.
Agents' Hours
One agent worked Monday to Friday. But most tenants who are employed want to go flat hunting evenings and weekends. Except in winter, evenings are dark.
Agents' Working Hours
I found it very difficult dealing with agents who don't work weekends. One agent told me the shop was staffed by sales staff on Saturday to take the details of prospects. The sales and management team, the account person, would contact the landlord and prospective tenant on Monday.
Management Fees
How will an agency far away be able to deal with management? Many agents say they have teams of people to call on in each area.
One agency said, they get three quotations for work to be done or appliances to be bought, then forward the three quotations to you for your decision. Do you want the cheapest service, or product such as a new fridge for a tenant, or one with a long guarantee?
Ideal Tenants To Choose
New laws coming in make it illegal to specify no children, or other criteria.
You can however mention the sort of things which will appeal to certain types. Parks appeal to parents of toddlers. For example, good schools will appeal to families. Universities will appeal to students, or parents of sixth former. Hospitals might appeal to pregnant women or the elderly. Mentioning or photographing flights of steps might be off putting to the pregnant or elderly. Train links and fast times to the city and business districts might attract young professionals. A parking space will attract a car owner. A nearby place of worship, faith school, or the number gourmet and ethnic restaurants, or fast food options, might suggest the atmosphere, or variety.
Tenants' Requirements
I had people from a military base who were used to spartan, clean, efficient homes. They wanted sets of 12 items of plates, different sizes of glasses, and 12 dining chairs, to hold weekly dinners of cocktail parties for their military groups.
A family of three sent back all table lamps because they did not want to be responsible for breakages, and wanted me to remove anything of financial or sentimental value because they had three children.
An Afghan family wanted me to remove all furniture with legs, the dining table, dining chairs, easy chairs, so they could put cushions around the walls.
I also had tenants try to return curtains so they could install their own.
Managing Agents Firm Rules
A managing agent will tell tenants that all items must stay in the flat, be stored there, hung up again at the end of the tenancy, and be as on the inventory.
Advantages Of The Inventory, Inventory Personnel - And Demanding Keys
I had an inventory done and the tenant was missing a set of door keys which he thought might be with his brother. He promised, 'I'll definitely return them later. I'm flying off tomorrow. So I'll post them back during the following week.'
I was disappointed in this. I did not known how to deal with it. I didn't want a confrontation.
However, the inventory person was very forthright. He said, 'I am spending an hour photographing everything in this flat. My next free time is a month from now. I will charge for a return visit, the tenant paying, out of the deposit, since they are the one causing the need to return.
'If the flat key is not supplied, you will be charged the cost of a replacement lock and 4 sets of replacement keys to this flat. Your two keys. The landlord's two keys. If the building key is not returned, we must have the building lock changed, issue two sets of building keys to all four flats. You will be charged for that. Until you return all the keys, the inventory cannot be signed off. If you have the keys, you still need to pay next month's rent. Meanwhile, of course, your deposit of two months' rent cannot be returned.'
The tenant made a phone call. He drove off. He returned twenty minutes later with the missing keys.
A Good Tenant
What is a good tenant? One who pays the asking price?
One who sends you a whatsapp immediately after paying to tell you the rent has gone into your account, such and such an amount. No chasing nor wondering needed.
Property Photos
Some agents said they would happily use my hand phone photos. Others said that when they visited the property they would take photos. Others said that they would send in a photographer. One agent said her photographer would also do the video and the floorplan.
Useful Websites
https://www.compareagentfees.com/renting-out-your-property
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