I own 2 BTLs managed by different agencies in different parts of the country. Both provide 'full service' management i.e. they find and vet tenants, handle small repairs, etc - I do virtually nothing.
Both have headline fees of 10% (+VAT) which seems quite standard. Both charge some fixed fee for new tenancy agreements. Maybe about £200, not certain.
On property A, that's it.
On property B, they also charge me monthly for:
"Gross rental information to HMRC" @ £15+VAT pcm
"Landlord regulation checks" @ £10+VAT pcm
Tot it all up and I'm probably getting about 80% of the rent if you reckon on a new tenant about once a year. Seems a lot of fees.
What do you pay your agents and what individual service fees are they charging? Why is my agent charging me to send information to HMRC for instance?
The current FTC is coming to an end and I'm wondering about trying to push back, but no idea how much leverage I've got.
Both have headline fees of 10% (+VAT) which seems quite standard. Both charge some fixed fee for new tenancy agreements. Maybe about £200, not certain.
On property A, that's it.
On property B, they also charge me monthly for:
"Gross rental information to HMRC" @ £15+VAT pcm
"Landlord regulation checks" @ £10+VAT pcm
Tot it all up and I'm probably getting about 80% of the rent if you reckon on a new tenant about once a year. Seems a lot of fees.
What do you pay your agents and what individual service fees are they charging? Why is my agent charging me to send information to HMRC for instance?
The current FTC is coming to an end and I'm wondering about trying to push back, but no idea how much leverage I've got.
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