A falling buyers market causing a rental stir!!!
As the lending markets drops the rental market is flourishing and many investors are seeing now as the time to buy. Recent activity in the letting market has created competition between agents, which in turn has seen falls in many management charges, set up fees, or in a lot of cases introductory special offers. (Often include 3 months free management, a low set up rate with TERMS AND CONDITIONS, a best price “guarantee” amongst other over hyped offers).
Immedi-Let have recently received instruction from a Landlord who was due to Instruct another agent in the locality. When analysing the cost differences between the two companies here are the results that we found:
IMMEDI-LET PRICES
FULL MANAGEMENT SET UP FEE = £150
ORGANISE AND CARRY OUT GAS SAFETY CERTIFICATION = £50
12 MONTH MANAGEMENT COSTS = 12 x £50 = £600
Total = £800
LOCAL AGENT PRICES:
FULL MANAGEMENT SET UP FEE = £299+VAT
ORGANISE AND CARRY OUT GAS SAFETY CERTIFICATION = £90
INVENTORY ON CHECKOUT (STANDARD WITH IMMEDI-LET) = £60+VAT
12 MONTH MANAGEMENT COSTS = 12 x £55+VAT
TOTAL = £1,019+vat + £90
= £1,287.33
That is a saving of almost FIVE HUNDRED POUNDS within a 12 month period alone. With an interest only btl mortgage on this type of property that is a full two months mortgage payment equivalent. When you couple this kind of saving with our confidence that we will find you a quality tenant far faster than any high street agent, you can see our reasons for success. Landlords are intelligent people, that is why they invest in the most solid of investments, PROPERTY, and you don’t need to be a rocket scientist to see why Immedi-Let should be your first call every time you need a tenant. We are landlords and want to save money for ourselves, let us save money for you too.
Email: info@immedi-let.co.uk
Tel: 0845 8622 141
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