Oh yes. What agents in Abingdon and Oxford have long known and feared will now be visited on Bicester agents.
They will do market appraisals and hear potential landlords say "We've had Blue Door round, can you tell me exactly what you do differently for 12%+VAT of my monthly rent? They will probably mutter something like "We pay a man to put up an unsightly board which advertises our company at your expense" or "We will put one tiny picture of your property among 20 others on a page of a newspaper"
They will struggle to come up with anything else really because that is all they do that we don't do. the list of what we do that they don't do is a bit longer.
They need to take heed. They will need to up their web advertising from one paltry photo to at least 10 or so. They will also need to answer emails late at night, take phone calls on a Sunday, do viewings and MAs at times to suit the customer not the office tea and biscuit schedule and they will need to charge a more realistic fee for their work.
Flat fees are the way forward. No renewal fees are also more honest. We're unusual: they are all the same.
They don't yet know how many properties we have in Bicester because they won't see any boards, we don't always get time to put properties on our website either as they are snapped up too fast. We remain a mystery to the competition and that's how we like it. We expect more 'phishy' emails enquiring about our fees from dodgy Hotmail addresses as our name spreads on the lips of those who love us for what we are.
Here's a little bit of maths for you to try out.
What is 12% of £750?
Use the % button on your calculator if you like or do this: Multiply 725 by 0.12 (12 hundredths, which is what 12% is) then press equals. You get 90.00.
Make it into money £90.00 then add VAT if you are sitting down.
YIKES YIKES YIKES!
Now compare Blue Door's fees
Rent PCM | Blue Door Management Fee | Percentage of Rent |
£695.00 | £65.00 | 9% |
£750.00 | £65.00 | 8.7% |
£850.00 | £65.00 | 7.6% |
£950.00 | £65.00 | 6.8% |
£1200.00 | £65.00 | 5.4% |
Even when you add VAT our fees are a reasonable £76.38
If you do the maths and find that you are paying too much for the management of your rental property give us a ring. If you don't have a rental property and this means nothing to you - tell someone else! If we get their business, you get £50. Simple.