A new era seems to be unfolding in the rental sector. The vexed job of tenant search is now going online and many high street agents are feeling the heat. Many landlords are rejoicing at the turn of events. They feel they can carry on the business without paying a premium to the high street estate agents.
They view it as silver as online lettings agents are giving high-street rivals a run for their money. Landlords are sharing their happy tales. Few link websites have upped the rental price than the high-street agent with a one-off fee of £75 to find a tenant. All time consuming jobs such as clinching tenancy deal, rental insurance, gas safety certificate and EPC are done with care under one roof for far less money than a high-street agent.
The cost calculator says landlords save around £957 more annually than using a high-street agent. The relief that a high-street agent provides the reassurance of face-to-face interaction and a comprehensive service is now challenged by online providers.
Marc Von Grundherr, Director, Benham & Reeves Lettings gives his wisdom A Shopfront may not protect from unscrupulous practices but offers a level of assurance. While anyone can set up a website a high-street presence requires the agent to take out valid leases”.
In his view, whatever be the case, what is to be ensured is that they are accredited by Association of Residential Letting Agents [ARLA] and is a member of the Tenancy Deposit Scheme.
In terms of fees online lettings agents charge less for a tenant-finding service. They also proffer landlords monthly packages for additional services. They can do anything that a high-street agent can do. Without the shop front and huge overheads their charge of £199 letting service is a relief when compared to the £1,200 claimed by a high-street agent.
The online approach is personal and also allows for dealing with the same person every time. One landlord says high-street agents are to blame for picking tenants without screening and shirking responsibility when something goes wrong.
Professional Agencies Upbeat
Amid these changes and challenges by online players the brick and mortar rental agencies. They welcome competition and see the new scenario as a welcome change. Rentals London has been in the business for long and helping thousands of landlords to get the best tenants with full responsibility. It is an example how real professionalism can brave all odds.