Before you put your property on the market with an agent you need to decide upon the level of service you require. We offer two options: Rent Management Service or Fully Managed.
Fees differ from agent to agent and they also depend on the level of service you need. At CityWest.co.uk Estate Agents, we tailor our fees to ensure they are highly competitive, while ensuring a service of the highest standard.
Choosing the agent that offers the lowest fees isn't necessarily the best option, as you may receive a poor level of service. Our letting manager will discuss fees with you in detail.
Your tenant's lease will normally be for a six- or twelve-month term, although it can be longer. At the end of this period, the tenant may want to stay in the property. Provided they paid the rent on time and looked after the property, it is usually to your advantage to allow them to do so. This means you can avoid the cost of re-marketing the property and any empty periods where you won't be receiving rental income. Alternatively, you may want to invite your tenant to remain in the property beyond the original term.
Either way, your letting manager at CityWest.co.uk Estate Agents will negotiate the terms of the renewal on your behalf and prepare all the paperwork. We will do this as soon as we can, aiming to give you enough time to market the property again if the tenant decides not to renew.
When you employ CityWest.co.uk Estate Agents as your letting agent, you agree to pay us an overall fee for our services. Part of this includes an agreed renewal fee, which you only have to pay if the tenant (or someone who lives in the property with them) stays on in the property, for example by renewing their tenancy or taking out a new lease. This part of the overall fee is agreed with your letting manager when CityWest.co.uk Estate Agents is first instructed.
As well as our agency fees, there are other costs for you to think about. There are the initial costs of preparing the property for let, the ongoing costs of repair and maintenance, and the cost of any emergencies, for which we advise you to have a contingency fund.