Ciuple questions, first Do you want to manage the property yourself? Do you want to vet the applicants? Do you want to have to deal with bad payments etc? If yes to all, then do it all yourself. If yes to all but q2, let them do it. If no to 2 or all, let a proper rental agent handle the property as the management agent. IMO. I think the average take is 10% of rental, but IMO that's peanuts for the work that they do in terms of vetting applicants, getting the leases in place and acting as a buffer for you, so you don't have to deal with the tenants yourself. From a renter's perspective, it's pretty much the same thing at the end of the day, but dealing with an agent makes things a lot simpler at times, and a bit more difficult in others. Either way, it needs to suit YOU. Some people are on it when it comes to rentals, and can manage it themselves without a hassle. If you've got a day job, and don't have time to manage it and find tenants etc, then go with an agent that will manage it for you. If you have a day job and can manage it yourself, but don't want to go through the hassle of finding a tenant, then your option sounds more or less okay. BUT. One months' rent equates to about 8.3% of the monthly rent, which, if they're not managing the property, seems quite excessive to me.
