Updating post from Reddit.
Hi,
Our first property is about to complete in April. We are now starting to look out for all the services we are planning to have. As we are living abroad, we are looking to have a comprehensive management on our property (2 BR Apartment in Manchester). We were recommended a letting agent that provides below list of service. The rate they are quoting is 12.5%+VAT (15% INC vat). Would anyone be able to suggest if this rate is reasonable? Thank you.
✓ New-Build Property
Inspection
✓ Professional
Photography
✓ Professional
Floor Plans
✓ Extensive Advertising
✓ Viewings & Virtual
Tours
✓ Offer Negotiation
✓ Comprehensive
Referencing
✓ Tenancy Agreement
& Admin
✓ Pre-Tenancy
Cleaning
✓ Property Inventory
✓ Tenant Check-In
Service
✓ Tenant Deposit
Registration
✓ Tenant Utility
Set-Up Service
✓ Deposit-Free
Insurance Option
✓ Full Property
Management*
✓ Rent Collection &
Statements
✓ 24 Hour Online
Portal Access
✓ Non-Resident
Landlord
Registration
✓ Six-Monthly Property
Inspections
✓ EPC Certification
✓ Portable Appliance
Testing
✓ Electrical Safety
Inspection Reports
✓ Periodic Legionella
Testing
✓ Renewal Agreement
Negotiation
✓ Tenancy Check-Out
Service
✓ Annual Tax Efficient
Statement
✓ Dedicated
Management Service
✓ Annual Valuation
Appraisal
I'd talk to Jordan Fishwick, they did me well for a few years and I believe was 10-12%
Give them a call and ask to speak to Katherine, she's great.
The only thing I'd say is that some of the contractors they use are expensive and not that good, think replacing plasterboard after a repair, not taping it, and not securing it properly so it moves if you push it, or a leaking tap becomes an instant tap replacement rather than fixing. That's unfortunately the trades people when it comes to letting agencies.