Letting agent fees

K

Kazmc

Guest
Hi,
I have bought a house and I need to rent it out now. I am wondering what sort of fees are normal to pay an estate agent? Does anyone know how it works? Do we draw up contracts etc? What happens if they can't rent it?
Thanks.
 
Shop around and compare quotes, generally they charge a twelth of the annual rental which basically means they keep the first months rent.

You will definitely need something down on paper, most letting agents have standard contracts, if they cant rent then whther you pay something or not will depend on the small print and their conditions, make sure you have a list of questions when you approach them, I would suggest contact by email or post then you will have the reply in writing but you can always ask them to confirm verbal communication in writing.
 
Most agencies charge approx a months deposit for advertising ( plus vat)

Some agencies offer a management service too, this can be usually 5/6% charge of the monthly rent.

You need to decide if you are happy to deal with tenant issues yourself or do it via the agency and pay the agent a monthly fee including the initial advertising cost.

The agent will draw up contracts for you and the tenant to sign, make sure you are happy with the detail in the contract( pets, smoking, fine for non payment of rent, )

There is no guarantee that the agent will find a tenant for you and most contracts( from my experience) won't cover you for this, however if you get tenants in place and they decide to move out before your lease is up, the agent is normally liable to get new tenants in for you, for the remaining period.

Remember to register with the PTRB, this was never outlined to me as a landlord by the estate agent and it was months before I found out that you are LEGALLY OBLIGED to register.

Good luck
 
My agent charges me something like €150 less than a months rent.... I forget the exact percentage.

You should always try to negotiate...They shouldn't get upset. I suppose it depends on how quickly (effort) it will take to rent your property and what competition there is in a particular area.
 
You must log in or register to reply here.
Back
Top