WikiWirral Online with you since 2003, fantastic.
Forum Statistics
Posts1,027,411
Topics75,532
Members13,471
Forums65
Posts in last 24hrs5
Most Online14,906
Nov 23rd, 2019
Who's Online Now
33 registered members (alan128, 7 invisible), 1,274 guests, and222 spiders.
Key: Admin, Global Mod, Mod
Social Media : Follow Us


Popular Topics(Views 7days)
New General Forums
Hi everyone.
by Harp1st. 6th Aug 2020 12:16pm
The cat got the cream
by snowhite. 23rd Jul 2020 2:25pm
Eddie Flanagan comedian
by mikeeb. 22nd Jul 2020 2:23pm
McDonald's Haven't any Empathy
by BultacoAstro. 13th Jul 2020 1:20pm
New Wirral History
A Stanworth Shop, Birkenhead North
by diggingdeeper. 6th Aug 2020 11:11am
Toll booths Birkenhead Tunnel
by mikeeb. 4th Aug 2020 2:34pm
Outdoor swimming pools
by mikeeb. 30th Jun 2020 4:26pm
WW2 Bomb Map - Wallasey
by red_devil. 9th Nov 2019 12:21am
Forum Tips
Photo Gallery Forums
Boaty McBoatface takes shape
The gathering storm: Mersey waterfront today
Topic Replies
Restaurant/pub with outdoor seating - Bromborough
by pacef8. 7th Aug 2020 9:15pm
Restaurant/pub with outdoor seating - Bromborough
by CarterUSM. 7th Aug 2020 8:59pm
Hi everyone.
by Harp1st. 7th Aug 2020 10:57am
Toll booths Birkenhead Tunnel
by mikeeb. 7th Aug 2020 10:48am
A Stanworth Shop, Birkenhead North
by diggingdeeper. 6th Aug 2020 9:51pm
What Wood?
by Moonstar. 6th Aug 2020 5:39pm
Xbox One Console With RDR 2 And 22" LG TV
by rhoobarb2002. 6th Aug 2020 4:13pm
Roland U-20 Vintage 80s/90s RS-PCM Keyboard/Synth
by rhoobarb2002. 6th Aug 2020 3:41pm
Coronavirus
by casper. 6th Aug 2020 10:16am
August
M T W T F S S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31
Recent Posts : What's On ?
Restaurant/pub with outdoor seating - Bromborough
by pacef8. 7th Aug 2020 9:15pm
Previous Topic
Next Topic
Print Topic
Rate Topic
Anyone here fully manageing a Letting? #850271
14th Jan 2014 2:42pm
14th Jan 2014 2:42pm
Joined: Feb 2013
Posts: 84
wirral
Y
yr20405 Offline OP
Member
yr20405  Offline OP
Member
Y
Joined: Feb 2013
Posts: 84
wirral
I'm currently with a letting agent who's fully managing my property and I was thinking about fully managing it myself. Anyone here who fully manages their property could give me info about what I would need to do if I were to fully manage my property?

Google Ads
Re: Anyone here fully manageing a Letting? [Re: yr20405] #850272
14th Jan 2014 2:45pm
14th Jan 2014 2:45pm
Joined: Nov 2003
Posts: 21,231
Wirral
Mark Offline

Wiki Master
Mark  Offline

Wiki Master
Joined: Nov 2003
Posts: 21,231
Wirral
I don't know exactly, but maybe a start would be to look at the services the letting agent provides you for your fee.

That should break things down to what's involved.



My Avatar images are all from the Wirral Gallery.Click Me
Wow Wirral History is coming along Great! Wirral History

we get +200 new members a month now smile
Re: Anyone here fully manageing a Letting? [Re: yr20405] #850285
14th Jan 2014 3:17pm
14th Jan 2014 3:17pm
Joined: Aug 2013
Posts: 89
Wallasey
J
justice Offline
Member
justice  Offline
Member
J
Joined: Aug 2013
Posts: 89
Wallasey
If you live locally and are a "handy person" there is nothing complicated about managing your property.Some agents for a small fee will draw up tenancy agreement and set up deposit account and also check reference.
If you do it yourself you have to have the deposit bonded,have gas checks, draw up tenancy agreement wait until 1.a.m. for the phone call to tell you the back gate is banging.
It is an easy process just make sure that you get deposit and rent up front.Watch that the money is being paid into your bank on a regular basis and you will be fine.

Re: Anyone here fully manageing a Letting? [Re: yr20405] #850467
14th Jan 2014 10:26pm
14th Jan 2014 10:26pm
Joined: Jul 2011
Posts: 720
Prenton, Wirral
E
Elizabeth Offline
Veteran
Elizabeth  Offline
Veteran
E
Joined: Jul 2011
Posts: 720
Prenton, Wirral
I use a letting agency because, 1. I'm too lazy to be arsed changing what I've been used to for a couple of years and 2. because I'm actually happier to keep my tenants anonymous and have them go through the management company with questions or concerns. I don't want to know who they are and likewise I don't want them to know me. I'd also worry that they'd contact me all hours of the day with the smallest niggle if I chose to go it alone.
Admittedly, I'd like to have the additional 10% income each month rather than handing it over to the agency, but for now I'm going to keep things 'as is'.

Last edited by Elizabeth; 14th Jan 2014 10:27pm.
Re: Anyone here fully manageing a Letting? [Re: yr20405] #850553
15th Jan 2014 1:00pm
15th Jan 2014 1:00pm
Joined: Sep 2010
Posts: 73
New Brighton
S
stu6278 Offline
Member
stu6278  Offline
Member
S
Joined: Sep 2010
Posts: 73
New Brighton
If you live locally and it's just the one property I'd say go for it. There's plenty of resources online such as Tenancy Agreement templates, inventories etc. and guides to let you know what your obligations are.

We've managed a letting for over 3 years now and have saved a packet. Other than renewing the contract, we average maybe two calls a year from the tenant about different things. Haven't had any calls in the wee hours yet, although if it was anything that major I'd want to know about it whatever time of day or night!

IME, they're also more likely to respect your property if they're dealing with you personally rather than some faceless letting agency. Don't forget, as well as saving your own money, you'll also be saving your tenant money from avoiding those rip-off agent's fees.

Re: Anyone here fully manageing a Letting? [Re: yr20405] #943813
24th Apr 2015 10:10am
24th Apr 2015 10:10am
Joined: Feb 2013
Posts: 84
wirral
Y
yr20405 Offline OP
Member
yr20405  Offline OP
Member
Y
Joined: Feb 2013
Posts: 84
wirral
So is it the case of getting a copy of a template online printing it off and getting a tenant to sign it say a 1 year or 2 year contract? also about registering them to counsell tax do I just ring them up and register their names? other than inventory, electric, gas safety checks what other legal procedures would I need to do?

Re: Anyone here fully manageing a Letting? [Re: yr20405] #943853
24th Apr 2015 2:26pm
24th Apr 2015 2:26pm
Joined: Jul 2008
Posts: 13,524
Birkenhead
diggingdeeper Offline

Wiki Master
diggingdeeper  Offline

Wiki Master
Joined: Jul 2008
Posts: 13,524
Birkenhead
As mentioned above, if there is a financial tenancy deposit, you must do this through the tenancy deposit scheme - one used to be free if they held the deposit, another one you kept the deposit but paid an insurance to cover the tenants deposit.

https://www.gov.uk/deposit-protection-schemes-and-landlords/overview

Electrics are supposed to be safety checked.
Annual gas check is compulsory.
You need landlords insurance.

If it is an HMO you need more things like 5 year eleccy certificate. If its a large HMO there are more requirements and has to be licensed by the council.


The further you are down the pay scale, the more 'essential' you are when the s--- hits the fan... Sue Farbysmith 2020

Insults are engendered from vulgar minds, like toadstools from a dunghill - Charles Caleb Colton

We don't do charity in Germany, We pay taxes. Charity is a failure of governments' responsibilities - Henning Wehn
Re: Anyone here fully manageing a Letting? [Re: yr20405] #943880
24th Apr 2015 4:33pm
24th Apr 2015 4:33pm
Joined: Jul 2011
Posts: 3,621
Wirral
V
venice Offline

Forum Guardian
venice  Offline

Forum Guardian
V
Joined: Jul 2011
Posts: 3,621
Wirral
You need this . http://www.landlordzone.co.uk/forums/forum.

and this

http://forums.moneysavingexpert.com/showthread.php?t=5180214

Make these your bedtime reading , they seem to cover just about everything!

Getting the right tenant in the first place I would think is far more taxing than doing the managing . Good tenant , easier managing. If you're not confident about that part, you could do 'tenant find' with a good letting agent , and then do the day to day managing yourself . Just the tenant find charge, then 0% for the rest of the let.


Moderated by  Mod 

Random Wirral Images

Click to View Topic.
Newest Topics
Restaurant/pub with outdoor seating - Bromborough
by CarterUSM. 7th Aug 2020 9:00pm
Restaurant/pub with outdoor seating - Bromborough
by CarterUSM. 7th Aug 2020 8:59pm
Hi everyone.
by Harp1st. 6th Aug 2020 12:16pm
A Stanworth Shop, Birkenhead North
by diggingdeeper. 6th Aug 2020 11:11am
Toll booths Birkenhead Tunnel
by mikeeb. 4th Aug 2020 2:34pm
For Sale & Free
Xbox One Console With RDR 2 And 22" LG TV
by rhoobarb2002. 6th Aug 2020 4:13pm
Roland U-20 Vintage 80s/90s RS-PCM Keyboard/Synth
by rhoobarb2002. 6th Aug 2020 3:41pm
Three light unit
by gerry1. 3rd Aug 2020 10:36am
Carlton Players Birkenhead Theatre Programmes
by NickWirral. 19th Jul 2020 8:54pm
Ipad Mini 5th Gen
by Catsick. 11th Jul 2020 1:58pm
Member Spotlight
Dilly
Dilly
wallasey
Posts: 8,964
Joined: July 2011
Show All Member Profiles 
Newest Members
Bobblenose, Johan_Enrik, Oscar27, Barry02020, mpitch
13471 Registered Users
Today's Birthdays
No Birthdays
New Wirral Info
Restaurant/pub with outdoor seating - Bromborough
by CarterUSM. 7th Aug 2020 9:00pm
Restaurant/pub with outdoor seating - Bromborough
by CarterUSM. 7th Aug 2020 8:59pm
What Wood?
by rocks. 1st Aug 2020 7:12pm
Covid testing with certification on Wirral
by CarterUSM. 23rd Jul 2020 10:46am
Neowise comet
by mikeeb. 20th Jul 2020 9:04pm
News : New Topics
New Merseyrail trains covered in graffiti
by mikeeb. 28th Jul 2020 6:38pm
Found bicycle seat cover
by BultacoAstro. 25th Jul 2020 10:43am
Regeneration of New Ferry
by Excoriator. 24th Jul 2020 3:53pm
Painted frontages of new Ferry Shops.
by Excoriator. 23rd Jul 2020 11:29pm
Eastham Train Station
by BultacoAstro. 11th Jul 2020 8:26am
New Enthusiast Forums
Advice Needed Hellcat Carrera rear Wheel
by BultacoAstro. 28th Jul 2020 11:04am
River Mersey , then and now
by cools. 23rd Jul 2020 7:19pm
What is sitting on roof
by BultacoAstro. 9th Jul 2020 11:03am
Cruel ear cropping breeders moved to Bromborough
by venice. 21st Mar 2019 4:10pm
Salt and Blood Pressure
by diggingdeeper. 22nd Sep 2018 7:42pm
Popular Topics(Views 24hrs)
Wirral Sunrise Sunset
Sunrise Sat 5:41am
Sunset Sat 8:54pm
Local Time Sat 6:47am
Powered by UBB.threads™ PHP Forum Software 7.6.1.1