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Letting Agent vs Private Landlord?

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  • Letting Agent vs Private Landlord?

    Whats are the pro's and cons of each? for both a tenant point of view and property owner??? really interested to know everyones thoughts on this!
    Callaways Estate and Letting Agents Brighton and Hove
    Please Follow me on Twitter HERE

  • #2
    Re: Letting Agent vs Private Landlord?

    I am a private Landlord. I don't use an agency I think the benefits are:-

    1) I save money in agents fees which I pass on to tenants in cheaper rents.
    2) Tenants can contact me directly and get repairs done and problems sorted out more quickly
    3) I know more quickly if a rent payment is missed, ect as I don't rely on an agency to contact me and tell me
    4) When a tenant gives notice I know right away.

    I have had bad experiences with agencies losing paperwork, failing to collect monies etc.

    I like to give my tenants a better quality service. I'm sure there are good agencies out there. However I have not yet found one that will give my tenants the same quality of service and attention to detail that I pride myself on offering.

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    • #3
      Re: Letting Agent vs Private Landlord?

      I agree, after all we are here to make money, not let the agency take our money!

      Do you ever see agencies buying property?

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      • #4
        Re: Letting Agent vs Private Landlord?

        When renting through an agent you will generally find all kind of extra charges in the lease aggreement .One agent wanted to charge me £180 for a credit check , £60 to draw up a contract £200 in admin fees and then £60 at the end of each contract to re-write the contract ontop of 1 months deposit + 1 month up front totaling around £1400 before I could even move into the flat. A private landlord will generally charge you just 1 months deposit + 1 month upfront. Ive rented from both private and through agencies Private wins me over every time.

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        • #5
          Re: Letting Agent vs Private Landlord?

          when iw as at university i dealt with both letting agent and private landlord and it was alot easier dealing with a private landlord as of there were problems i could irectly talk to them rather than contacting the letting company and getting fuzzy answers
          We have debt solutions to help you get out of debt problems

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          • #6
            Re: Letting Agent vs Private Landlord?

            mgrds comment is a really honest and i think perfect comment, a private landlord, is so much better then a letting agent because you will get 1 to 1 with a private landlord, and there not a company such as a agency, because of big name agencys, they will get you to pay for more for less, Private landlord if you wish to save money.

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            • #7
              Re: Letting Agent vs Private Landlord?

              Hi
              Am I responsible for home insurance if I rent an apartment?
              Danzo

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              • #8
                Re: Letting Agent vs Private Landlord?

                Danzo, yes.

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                • #9
                  Re: Letting Agent vs Private Landlord?

                  Go with an experienced private landlord every time.

                  If the landlord isn't experienced, use an agent with a good reputation for doing the paperwork properly. Paperwork is KEY in tenancy agreements.

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                  • #10
                    Re: Letting Agent vs Private Landlord?

                    We just moved North and started with an agency, but got to know the landlord and now deal directly with them - agency was quite expensive
                    For letting agent Holmfirth visit applegatelettings.co.uk

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                    • #11
                      Re: Letting Agent vs Private Landlord?

                      I've been in both situations as landlord and tenant. From the tenants perspective you just want someone who gets problems fixed with the least hassle and leaves you alone - what more could you want?

                      A professional priovate landlord is just as likely to provide this as a lettings agent. But there are unprofessional lettings agents and unprofessional private landlords.

                      So I guess its a question without an answer which was probably the point.

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                      • #12
                        Re: Letting Agent vs Private Landlord?

                        Advantages:

                        For Letting Agents:

                        -Professional
                        -Good knowledge of the region in which they run
                        -Experienced at handling rental issues
                        -Usually an experienced company having a reputation to support


                        For Private Landlords:

                        Rent is usually cheaper than via letting agents
                        No intermediary if you are dealing immediate with the landlord

                        Disadvantages:

                        For Letting Agents

                        -A lot of businesses are not ARLA registered that will create deceptive contracts as well as charge hidden costs
                        -Tenancy is often managed "by the actual book" with little or no space for negotiation
                        -You tend to be dealing with a company instead of an individual

                        For Private Land lords


                        -Can end up being less organised than the usual professional company

                        -May not really adhere to the law
                        -Maintenance work can take lengthier to be carried out
                        -Service might be less professional
                        -No guarantees associated with long term experience in the field



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                        • #13
                          Re: Letting Agent vs Private Landlord?

                          At the moment I have a landlord that owns a few properties and so has accounts set up with the utility companies etc etc and everything is really nice and easy to get sorted. I would worry if I had a landlord that wasnt on this scale though, because everything you get repaired is costing them money and they arent going to like whiney tennants.
                          I do think being with an agent does offer some form of security and peace of mind however as they have to stay within the rules and have in a sense a lot more to lose, but obviously there is a cost to this.
                          As for the horror stories, these occur for both private landlords and agencies quite equally I'm sure.

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                          • #14
                            Re: Letting Agent vs Private Landlord?

                            I agree with Donna on this. Positives & Negatives for every situation as well as horror stories for both!
                            www.fairviewestates.co.uk
                            Fairview Estates Letting Agents Nottingham

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                            • #15
                              Re: Letting Agent vs Private Landlord?

                              I think it also boils down to luck as to which would be better. My last landlord was a godsend. When we couldn't find a place to stay in between our last lease and the new lease, he actually let us stay for free at one of his other apartments. Other landlords just don't care and you might have better luck going with an estate agent that also does the property management. Good luck!

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