Setting up tenancies

[BillBrimon42]

I'm a landlord of 5 properties, which I've now decided to market and let myself as I feel the costs incurred in using an agent are too high, especially when tenants are leaving after 6 months in many cases. What I'd like to know is whether there is a service available to me where somebody can set the tenancy up and reference my new tenants once I've found them? The cheaper the better please!!

[dazalock]

A solicitor will set up the tenancy and you could goto www.homelet.co.uk for referencing and credit checks. You could also get a lawpack and do the tenancy yourself. You get what you pay for at the end of the day.

[PaulDerb]

www.online-tenancies.co.uk

This company provide the service you are looking for for free! They charge your prospective tenant an admin fee in the same way as most agents. They'll also help you find an "intro only" agent if you need them to. I've used them on a number of occasions and always found them to be quick and reliable. Hope this helps! Paul.

[dazalock]

nice one, Ill save that link, I think it may put some tenants off to have to pay that though, especially for 6 month tenancies at the lower end of the market, still usefull.

[mattj]

Just saw this post and thought I'd let you know that I have 20 flats which range from £300 - £650 per month and I've used online-tenancies for all of them without any problems or complaints from tenants. If a tenant wasn't willing to pay a fee to be referenced etc I'd have to ask myself whether they were the type of tenant I'd want anyway. Just an observation!

[Paul_f]

Just to make a point about Dazalock's post concerning using a solicitor to draw up an AST - don't! They are very lazy at looking after your requirements and considering it's not the most difficult thing in the world you could learn to do it yourself.

A good agent is worthwhile, and if you have 5 properties with them then negotiate a discount for God's sake! 30% I would say at least.