How do I get the best deal out of my tenancy renewal?

This week on Ask Rob & Rob, Brian asked:

How do I get the best deal out of my tenancy renewal?

The answer touched upon one area where you can work your letting agents down around the renewal period: renewal fees. Lettings agents like to charge a lot for renewals, for not that much work. “Do you both want to renew? Yes? Great, have some contracts.” Often this costs you (and the tenants) hundreds of pounds. This is an area where you’ve got some leverage; if they’ve got any sense at all, they’re not going to want to lose your business over something piddly like this.

The end of a contract is also a good time to renew your rent. Your agent might not do this, so do some checking of your own, but get them to check what the market rate has become. Unless the market’s moved significantly though, it may not be worth pushing your tenants too far.

Do you have a property-related question for Rob & Rob? Whether you’re a first-time investor or a seasoned pro, you could feature on our next episode. Just call 013 808 00035 and leave a message with your name and question (normal UK call rates apply).

Or if you prefer, click here to leave a recording via your computer instead.

How to listen

Subscribe in your favourite podcast app to get every episode automatically sent to your phone.

Get involved

What do you think?

Share your thoughts on this episode – and find out what others are saying – in the Property Hub Forum.

Go to the forum

Get on the show!

Did you enjoy this episode? Then please leave us a review: it’s the best way to say thank you, because it helps others find us.

To show our appreciation, we’ll read out your review on the show! Learn how to leave a review in Apple Podcasts.

You might also like...