Hello All,
I have been looking at this site for weeks now so have finally signed up and was hoping for a response to my post.
I have 3 buy to let properties that I was using a lettings agent for and paying 10%+ VAT per month. They sold out their portfolio to another agency and they wrote to me advising that they are usually more expensive (12%+ VAT) but out of goodwill they will keep my existing terms in place.
I decided that after some issues that I had with the first Lettings Agent and the attitude of the new one, that I would manage the properties myself. I have been managing them for well over a year and have handled the issues that have arose within 24 hours.
It has now taken my mindset to run my own Lettings Agency and this is where I would like some feedback! I appreciate that most landlords here probably manage their own portfolio's (as do I at present), but im looking at entering the market and I am looking at implementing the following;
+Monthly flat full management fee of £35.00 Including VAT
+Tenants credit reference fee of £35.00 Including VAT
+Quarterly inspections with full photos taken and feedback provided to landlord
+No fees added to maintenance work
+Inventory and Tenancy Agreements provided for landlord included
The operation would be run from my office (not at home).
I have am expansion strategy plan to have 8 offices within 3 years across the UK. I want to mix the 'online lettings agency' with the 'traditional lettings agency' - meaning an office and point of contact to go to if necessary.
Any feedback and opinions would be kindly accepted and appeciated.
In terms of myself, I have mainly spent my career in the Leisure Industry working up to a Senior Management position of Head Of Sales managing sales of over £250million.
Whilst I may lack years of experience in the Property Industry, I certainly make up in other areas.
Look forward to your responses!
Simon
I have been looking at this site for weeks now so have finally signed up and was hoping for a response to my post.
I have 3 buy to let properties that I was using a lettings agent for and paying 10%+ VAT per month. They sold out their portfolio to another agency and they wrote to me advising that they are usually more expensive (12%+ VAT) but out of goodwill they will keep my existing terms in place.
I decided that after some issues that I had with the first Lettings Agent and the attitude of the new one, that I would manage the properties myself. I have been managing them for well over a year and have handled the issues that have arose within 24 hours.
It has now taken my mindset to run my own Lettings Agency and this is where I would like some feedback! I appreciate that most landlords here probably manage their own portfolio's (as do I at present), but im looking at entering the market and I am looking at implementing the following;
+Monthly flat full management fee of £35.00 Including VAT
+Tenants credit reference fee of £35.00 Including VAT
+Quarterly inspections with full photos taken and feedback provided to landlord
+No fees added to maintenance work
+Inventory and Tenancy Agreements provided for landlord included
The operation would be run from my office (not at home).
I have am expansion strategy plan to have 8 offices within 3 years across the UK. I want to mix the 'online lettings agency' with the 'traditional lettings agency' - meaning an office and point of contact to go to if necessary.
Any feedback and opinions would be kindly accepted and appeciated.
In terms of myself, I have mainly spent my career in the Leisure Industry working up to a Senior Management position of Head Of Sales managing sales of over £250million.
Whilst I may lack years of experience in the Property Industry, I certainly make up in other areas.
Look forward to your responses!
Simon