Help!?.. Salary reduced with no warning?! - Page 3 - Business, Finances and Investing Forum

I have made an offer for a house today. Will know tomorrow if it's accepted then once moved will rent out my current property. All being well it could be all sorted by end of this and will have a new business to run as well.

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10-22-2014 , 04:12 PM

#52

Larry Legend

Celtic Pride

Join Date: Jul 2009 Posts: 42,920

Are you using the agent only to find you a tenant and then introduce you to the tenant for ongoing discussion, or will the agent continue to be the tenant's point of contact?

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10-24-2014 , 07:16 PM

#53

littletrix

grinder

Join Date: Mar 2010 Posts: 638

Not sure? I am guessing it will be more profitable to do the finding of tenants and letting myself with the help of solicitors, but less hassle to use an agent for everything. Have met with mortgage broker today who advised monthly payment on the mortgage will be £250 and I should be able to rent the property for £750

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10-25-2014 , 01:56 PM

#54

Larry Legend

Celtic Pride

Join Date: Jul 2009 Posts: 42,920

Why I ask is because it is most likely significantly better to just handle 100% of it yourself. When I did commercial RE I had a guy looking to get into commercial that owned about 30 multi-families and he dealt with almost all the tenants himself at the beginning.

Agents are only incentivized to get the new tenant in and get paid, a lot of the time the "services" they provide to the tenant afterwards is basically summarized as: not answering calls, never helping with anything and generally not caring about your property. It can be helpful to use an agent as a protective barrier when screening tenants, but it really is superfluous imo.

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