Leasing out a property not using an agent

Posted by cheeky (121 days ago)

I'm going to lease out my recently rennovated flat I am currently living in. I would like the opinions of people who have done the same and have or have not used an agent to find the tenant, draw up the tenancy agreement, secure the deposit etc.

Its my first time doing this and I'm wondering if an agent adds value to the negotiations.

Thanks.

Posted by Ed (121 days ago)

Please note the testimonials on our property channel (click post an ad) - most who list props find a tenant... http://hongkong.asiaxpat.com/property/

Posted by Eric.in.HK (118 days ago)

Cheeky,
Would your property be in Gold Coast by any chance ?
I'm leaving Jakarta end of april for a 2/4 year assignment in HK. There are so many agents and places to look at that it's a bit hard to focus on one. Just looking for an easy and fair agent or owner to deal with.
Thanks
Eric

Posted by uupper (118 days ago)

I have a new apartment on the HK Island that I want to rent out? Would anyone be interested?

Posted by walkup (118 days ago)

use the agent...keeps the process formal and at half a month's rent charge to you is good value IMHO...less risk of being messed around by a tenant.

Posted by Eric.in.HK (118 days ago)

Well noted.
That was the idea anyway. As you say, it's probably more "formal" and "secure".
Thanks

Posted by ldavy (117 days ago)

Hi Cheeky,

You might be able to find a tenant easily enough, and save on the agency fee of half a month's rent. But a good agent will have a standard Tenancy Agreement you can use, will deal with all negotiating on your behalf, and will organise things like utilities and the payment of Stamp Duty. If you're confident you can produce a foolproof Tenancy Agreement, get a Land Search of your property, deal with all the relevant EAA forms etc then you should have no problem, otherwise I'd recommend spending on an agent.

Posted by ldavy (117 days ago)

Hi Cheeky,
Sorry, wasn't thinking clearly before. As a property agent I have to do a Land Search and complete various forms before my client signs a Tenancy Agreement, but as you're a private individual who wants to rent out your own flat, you probably don't need to. And you can buy a basic Tenancy Agreement at large stationery shops.