Looking after a let property

It is worth noting that in the process of letting a property, you may consider there are several agencies that would be suitable for you. If you agree (as is often the case) that fees are only payable to the agency once it is let, then some do decide to have more than one agent represent the property, until such a time as one lets the property, and then they bid goodbye to the other.

Once the property is let, then of course like all properties there will be maintenance required.

Many people decide to let the agency take an extra percentage of the rent each month as their management fee in exchange for their property maintenance service. But how does this work - do changes just get made or are you consulted?

Well it should definitely be the case that before anything happens to the property that the agency advises you first and seeks your agreement.

Let's imagine that the washing machine stops working. They should not just arrange for it to get fixed without letting you know, but rather should inform you of the situation and see if you want to get quotes for it to be fixed. They should get a couple of quotes if you decide to proceed, and then again let you know of the outcome before going ahead.

This way you get the best of both worlds in that you know what is going on with the property but don't have the time consuming issues of actually making those phonecalls and arranging for tradespeople to go around and look at the said broken washing machine yourself.

There are a large number of lettings agencies out there, and so to recap it pays to shop around and find the one that offers the services you want at a price you are prepared to pay, usually based on a percentage of the monthly rent with various options based on how much you want the agency to be hands-on in the property.

Buying Property

Mortgages

Buying Overseas

Tools and Resources

Property Forums

Looking after a let property