Managing or Letting Agent

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Directory Layoout » Conveyancing, Property Transfer and Mortgage Bonds » Buy to Let

Managing or Letting Agent

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Using a professional managing or letting agent is ideal when you do not have the time to manage your property/ies. There are generally two types of agents as far as letting goes:

A Full Management Agent takes care of the whole letting procedure, i.e.:

	Advertising your property to let;
	Selecting a tenant;
	Taking care of the lease agreement;
	Collecting the rent;
	Visiting and checking up on the property;
	Managing all the repairs needed on the property;
	Serving any notices and other tenant matters;
	This service generally costs between 10% and 12% (excluding vat) of the total monthly rent amount.

A Letting Only Agent takes care of the following:

	Finding a tenant.
	Setting up the lease agreement.
	You will need to collect the monthly rent and manage the lease.
	This service generally costs between 7,5% and 8,5% (excluding vat) of the total monthly rent amount.

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