Generally, rates for management of rentals for absentee landlords are 7% of the rent per month, depending on the work to be done and the number of visits to the properties required by the Landlord.
The responsibilities of a Letting Agent will include:
1. Pre-occupation inspection and inventory taking for handing over.
2. Contacting the Landlords or contractors approved by the Landlords for minor repairs.
3. Visiting the tenant quarterly regularly to find out if everything is satisfactory.
4. Banking in cheque payments. Make sure that the cheques don’t bounce.
5. Inspection at termination of lease and a report on work to be done.
6. Look for tenants 2 months before expiry of the lease.
7. To secure a new tenant by contacting all agencies without giving any agency exclusive marketing rights. This is to encourage early closure with all agents. A full one month commission will be paid to the agent who successfully brings a client. Our company does not take a cut to again encourage quick closure.
For more information, please feel free to email us at firstname.lastname@example.org