Letting Agent

JD24

Anyone any idea of the general cost for a letting agent.

Im looking for one in North County Dublin. I'm looking for one to get me a Tenant and manage the property.

The ones I have checked out are quoting me one months rent for the finding fee and 10% per month (of the rent) for managing it.

Is this the norm or am I being ripped off???

athtrasna

JD24 wrote: »

Anyone any idea of the general cost for a letting agent.

Im looking for one in North County Dublin. I'm looking for one to get me a Tenant and manage the property.

The ones I have checked out are quoting me one months rent for the finding fee and 10% per month (of the rent) for managing it.

Is this the norm or am I being ripped off???

That's cheap tbh. 10% management fee is low.

JD24

athtrasna wrote: »

That's cheap tbh. 10% management fee is low.

Really?? Just seems like a lot. Thanks for the response

Uriel.

12% + plus VAT is normal enough

MarkAnthony

You're being ripped off at anything over a bag of chips tbh. Managing my property is a 3 minute a week investment.

Uriel.

MarkAnthony wrote: »

You're being ripped off at anything over a bag of chips tbh. Managing my property is a 3 minute a week investment.

That depends entirely on the scenario.

MarkAnthony

Uriel. wrote: »

That depends entirely on the scenario.

How?

Okay I can understand if the OP is going into space that they might not be able to phone a plumber but otherwise even managing a property remotely isn't difficult. It's certainly not upwards of a grands worth of hassle.

Maybe, maybe getting tenants is worth the first months rent.

Uriel.

MarkAnthony wrote: »

How?

Okay I can understand if the OP is going into space that they might not be able to phone a plumber but otherwise even managing a property remotely isn't difficult. It's certainly not upwards of a grands worth of hassle.

Maybe, maybe getting tenants is worth the first months rent.

My agent manages the process of getting good tenants, handles the PRTB registration, does quarterly inspections, has a team of contacts and manages any issues that come up in the property from a maintenance perspective.

See sends her general maintenance/handy Man first when an issue comes up. If its something minor he fixes it at minimal cost and if it's a more complex/expert matter they'll get the right people in.

That's an absolutely invaluable service to me, especially when I live 350km from the rental property. The cost of management to me, written off the tax bill, is relatively small, especially when you'd consider the cost of travelling the 350km for minor matters, inspections, managing tenants ending their tenancy and others starting there's.

And all of that's before you get into the massive time savings, which is particularly important to me juggling academia and full time work which requires me to be out of the country regularly.

You don't have to be going to space to appreciate the value for money of a good agent

MarkAnthony

I understand where you're coming from but quarterly inspections is a bit much and I don't think it's unreasonable for the LL to make the effort to see the tenants twice a year. Having a handyman isn't difficult yourself, even remotely, and the PRTB registration takes all of 5 minutes.

I'm not really seeing where there is a massive saving in time, other than a drive to do an inspection, which I'm sure could be arranged with an agent who let the property for a one off flat fee. 'Managing' the property at 10% of rental income means fielding one or two phone calls. Granted I will concede the point that getting and vetting a tenant is possibly worth the one off fee.

JD24

Thanks for all the replies. I ended up going with a local well known Agent for a very reasonable fee.

GreatDefector

MarkAnthony wrote: »

I understand where you're coming from but quarterly inspections is a bit much and I don't think it's unreasonable for the LL to make the effort to see the tenants twice a year. Having a handyman isn't difficult yourself, even remotely, and the PRTB registration takes all of 5 minutes
.

Were renting and have quarterly inspections. They want to come during work hours too. Pain in the hole tbh

I have no doubt they find minor issues to keep their friends employed with handy numbers

Boiler service, roof, gutters cleaned, painting, landscaping... We've only been here under a year. I'd say our landlords head is wrecked from when I spoke to him

I just want to pay rent, save, keep the head down. If the place needs a clean I'd be happy to let someone know. I don't like being micromanaged by the agency at all

No idea why anyone would waste money on an agent unless they were abroad and even then I'd be looking at getting a family member/friend to look after it. Total and utter waste of money.

lcwill

My agent takes 6% of the annual rent as letting fee when he gets new tenants and then 6% of the monthly payment as ongoing management fee. Works out very cheap as long as tenants stay for a few years. This is in Dublin city centre.

erudec

MarkAnthony wrote: »

You're being ripped off at anything over a bag of chips tbh. Managing my property is a 3 minute a week investment.

Yeah, don't say that in front of my brother if you value your safety! He had nightmare tenants who abused his good nature and then two lawyers in a row made a hames of getting rid of them. The scumbag lawyers refused to take the tenants to the tribunal. He had to go looking for a lawyer and ask them up front if they were willing to take the tenants to a hearing.

I think tenants are like a round of Russian roulette: with the majority of them they're decent skins, but the minority will send you to hell.

And you don't know which kind you've got until you have already pulled the trigger.

4ensic15

MarkAnthony wrote: »

I understand where you're coming from but quarterly inspections is a bit much and I don't think it's unreasonable for the LL to make the effort to see the tenants twice a year. .

The RTB expect quarterly inspections. If a tenant doesn't report a problem, such as a leak, the RTB will hold that the landlord should have detected the leak and repaired it. the tenant will only be liable for the damage up to the time the landlord should have discovered it.

Samuel T. Cogley

Ah 2016 was such a good year.

erudec

Samuel T. Cogley wrote: »

Ah 2016 was such a good year.

How so?

Middleage Fanclub

Hi, I’d really appreciate if someone could PM me a recommendation for a Dublin based letting agent they use. Thanks

JD24

Middleage Fanclub wrote: »

Hi, I’d really appreciate if someone could PM me a recommendation for a Dublin based letting agent they use. Thanks

I cant recommend any but I certainly tell you who to stay away from!