How to motivate your LA

[Phlash]

The preferred norm for many landlords (including me) is no agent at all.

It's a bit like paying for a painter and decorator isn't it!

[Losos]

The preferred norm for many landlords (including me) is no agent at all.

MTG Perhaps I should have said that I spend most of my time out of the UK so using an LA on a full management contract is the only viable option, and although you are too polite to ask I am a UK Taxable person HMRC and I keep in regular contact

[Losos]

I disagree. A bonus may make the agent work harder, but not smarter.

The smart action is to lower the rent, such that you get a tenant quicker. That is the best way to avoid the voids. If you're allocating funds to (the additional 10% fees) anyone in order to mitigate the risk of a void, don't give it to the agent, give it to the tenant.

I'm an agent, and if you proposed 20% but wanted to keep the rent high, my thoughts would be that you may pay me more, but I'm working harder. The delay in getting tenants in also affects me. So, I'd ask for the discount to be given to the tenant to get them in quick, also giving you the choice of tenant rather than accepting the one person you find weeks later for the higher rent.

Phlash - thanks, I can see your logic, in two weeks I shall be sitting down with all the main LA's in my choosen area to discuss matters, should be interesting to get face to face with them.

[bbva]

MTG Perhaps I should have said that I spend most of my time out of the UK so using an LA on a full management contract is the only viable option, and although you are too polite to ask I am a UK Taxable person HMRC and I keep in regular contact

I live outside the UK year round. I visit once a year. I employ a letting agent to let the property but manage it myself. If you have a good handyman, plumber and electrician it is pretty easy to do. Keep in contact with the tenants and fix any problems asap.

[mind the gap]

It's a bit like paying for a painter and decorator isn't it!

No, not really!

Unlike many agents, decorators do tend to know what they are doing and they make the world more beautiful.

[Phlash]

No, not really!

Unlike many agents, decorators do tend to know what they are doing and they make the world more beautiful.

The beautiful argument is a good one. Happy to bow out quietly...

[theartfullodger]

How to motivate LA? Take them out to lunch once a yrar.

They'll be so surprised they'll tell you things... and may, just may, think of you first..

Cheap, worth a try, possibly tax deductible

[Losos]

How to motivate LA? Take them out to lunch once a yrar.

They'll be so surprised they'll tell you things... and may, just may, think of you first..

Cheap, worth a try, possibly tax deductible

Artful - Great idea and i like the tax deductable bit as well.