Is your letting agent making repairs and maintenance more expensive!?
If your agent charges their contractors a 'referral commission' it could be making your bill for repairs and maintenance substantially higher.
If you are currently using a Letting Agent to manage a rental property, you might not be aware that when work is being done at the property the agent may be pocketing some of the contractor's invoice for themself as a 'contractor commission'.
Some agents charge as much as 25% to contractors for referring them to work. For example, if there is a leak at the property and the roof needs repairing at a cost of £1000 the letting agents will keep £250 and the contractor will only see £750.
Therefore, in response, some contractors will quote higher to account for this making what the landlord pays for the work more expensive or will refuse to work with the agent altogether.
For us to be able to deliver the amazing service to landlords that we want we need great contractors on board who like working with us which is why we don't charge them a penny for referring work to them. This allows us to attract great contractors who are happy to be working with us while keeping the cost of maintenance and repairs down for our managed landlords.
If you would like to chat about what else makes our lettings and property management service amazing, please get in touch!