In an evolving rental landscape, an increasing number of landlords are turning to letting agents for the first time. This is predominantly due to surges in regulatory requirements and the growing complexity of property repairs.
Causes of the Landlord Surge
A survey conducted by comparison service Uswitch found that out of 2,000 landlords, a significant 63% are contemplating a transition to a letting agency. Of this cohort, 32% highlighted the prospect of being relieved from the burden of repairs as their primary motivation. A similar 30% cited legal obligations and challenges in finding tenants as a compelling factor. The survey also discovered that the most common reasons for landlords selling their properties are dwindling profitability and tedious maintenance tasks. 29% of landlords acknowledged that letting agents have a better market knowledge. A similar amount believe that using a letting agent would reduce the risk of scams or fraud.
Using RENT+
As landlords grapple with an increasingly regulated environment, the tailored services of letting agents and the potential for a more hands-off approach becomes increasingly attractive. For letting agents handling an increasing number of landlords, it is crucial to have the right tools. This is where RENT+, the Combined CRM for Lettings, Sales, and Management, comes in. Eliminate the need to carry out laborious administrative tasks and elevate your organisational efficiency to help your letting agency thrive in successfully managing a surge of new landlords.
Email us at support@focus-property.co.uk or call us at 01865 766 241 to learn more.
