Other Letting Agents other than us may echo higher rental yields, but these are the Gross Rental Yields, which on these properties is an average 8%. There will be three main reductions which other agents will make and we have to be cautious about that.
- Rent Not Collected.
- This could happen in case of vacant property or tenant not paying rent.
- Management Fee.
- The fee charged by other agents is 9% to 15% plus VAT = (11% to 17% of the rent).
- All Other Costs.
- Other costs such as property repairs, maintenance, compliance costs, or tenant eviction costs, etc.
We do not use this system. Instead, we use the Net Guaranteed Rent System, which is all-inclusive and means that none of the three main costs above apply. Our clients know in advance the exact rent they will receive, there are NO management fees, and all expenses are covered.