With the rental market prospering, there’s a growing flood of options out there for both landlords and tenants, and history dictates that using a letting agent is quite naturally part of the process. The traditional letting agent model is also evolving with the popularity of online estate agents and a more friendly approach to letting proceedings. And for a landlord, it’s often about convenience and simplicity - if someone can handle everything for you and get the job done with as little hassle on your part as possible, that’s great. However, if there was a better, cheaper, more efficient option perhaps it’s worth some consideration?
Avoid the Crazy Fees
Letting agents typically charge between 8% and 14% of the monthly cost of rent. Or, many choose to charge a fixed fee for their services, meaning if a tenant moves out after a couple of months you’ll need to pay the fees all over again. Expensive. Property Hawk estimate that you would save well over 50% by going it alone. But then, of course, you have to advertise, do all the admin and conduct the viewings.
If a letting agency covered everything, you may never get to meet your tenants. Meeting your tenants, or at least knowing something about them is important because you’re trusting them with your property. If you have a good relationship with your tenants it’s more likely they’ll respect you and respect your property, which in the long run can only be a good thing.
Control + Flexibility
You have complete control over your agreement and how you decide to let your property. Letting agencies are typically 9 to 5-ers and may not be available on the weekends. There may be a little more preparation involved, as you’ll need to create your agreement and inventory yourself, but after you’ve done this once, it’s a simple process, and there’s plenty of resources and templates out there to help you do it yourself.
The Future of Letting
The letting process is changing, it’s becoming more transparent and tenants are expecting more. We offer landlords a unique way to list their properties online and help property owners find their ideal tenant. We help, but you choose. We also cover tenant and credit checks and present you with the profiles of suitable new renters. We make it easy for you to showcase your property and market it to your desired audience. We’ll also help you along with the whole process so that everything can be done, easily and quickly, in one place. The days of estate agents may not be over, but we’re just offering you an alternative - and one that we think will be #TheFutureOfLetting