You are far away in Malaysia and your property is in the UK , now who is going to do these for you:
- find tenants for you
- collect the rental (ensure no arrears)
- manage your property at an acceptable level and safe standard which would include any repairs to be made
Do not worry.
In the UK, the Letting Agent will be doing all the above for you.
At the start, the letting agent will charge commission (from the tenant’s first rent payment) for finding tenants which will cover the agent’s costs for advertising your property and setting up the tenancy agreement with the new tenant.
They will also charge commission for collecting the regular rental payments from your
tenant. They normally charge this as a percentage of the rent payment from the
tenant and forward the balance to you.
Their commission normally ranges from 8% to 10% of the rent collected.