pij Posted August 11, 2014 Report Share Posted August 11, 2014 Hi there, I'm looking into setting up a lettings agency - preferably online, have many landlords considered using an online lettings agent? I would like to rubbish the numerous fees charged to landlords and tenants and make everything a little simpler. What are people's views on this and would you as landlords consider using an online agent as opposed to a high street one? Many thanks in advance for any feedback or opinions Link to comment Share on other sites More sharing options...
Melboy Posted August 12, 2014 Report Share Posted August 12, 2014 You could do your own research to discover that there are hundreds of online letting agents all chasing business. Some I would guess are successful but the vast majority couldn't make it pay as a business. From what I know and hear all lot of tenants now are looking to small ads like Gumtree, Trade-It, Friday-Ads etc. to find a private landlord that won't charge a high LA introduction fee or any fees at all. I would suggest though that only experienced Crusty landlords accept prospective tenants from these tenant applications. New, inexperienced Landlords should deal with an experienced letting agent for guidance and they should read and read up on the basics of being a landlord. Many don't bother. Many don't have a clue and then they wonder why it has all gone so horribly wrong for them. Link to comment Share on other sites More sharing options...
Grampa Posted August 12, 2014 Report Share Posted August 12, 2014 This is a generalisation but most people and I include my self decide to get into property management because it has the illusion of being easy and all you need to do is get enough properties on your books and the money rolls in every month. This couldn't be further from the truth if the job it done property.The reality is, it is very hard to get new landlords and takes years to built up a portfolio. Most landlords don't switch agents and will stay with their current agent even if they are not that happy with them. Price in my view isn't the biggest consideration for landlords. Quality, good, knowledgeable, service is and even then it is hard to get landlords to switch to you.The more properties you get the more referrals you get in the local landlord community. New Landlords do not come streaming through the door or in your case click on your website.I pride myself in trying to the job properly and have local solicitors, and other agents coming to me for advice but if I had 2 enquiries a month from new landlords I would consider it a good month.Have you got any experience in property management? You cant expect a landlord to hand over 100's of 1000's quid of their assets to you to manage and you are just hoping to learn on the job at the landlords expense. Link to comment Share on other sites More sharing options...
Mortitia Posted August 14, 2014 Report Share Posted August 14, 2014 Not another one! Being and landlord or an agent is about communication face to face IMO. What happens if you get tenants who don't do the internet - there are plenty! pij - how can you expect to do business effectively with someone in Cornwall when you are in Newcastle (name places used for illustration). Online works for a lot of things but not this. Link to comment Share on other sites More sharing options...
Dave A Posted August 18, 2014 Report Share Posted August 18, 2014 That's the issue for us, at the moment we self manage, but when we retire (1 year, 7 months and 12 days), we plan to use an agent as we will be travelling a lot. I couldn't see us using a "remote" agent as we would be looking for somebody local who could actually visit the properties in the flesh. Dave Link to comment Share on other sites More sharing options...
kerbut Posted August 18, 2014 Report Share Posted August 18, 2014 Dave We are both retired and have several rental properties , we have a house in Spain and a mobile home in France (sold the house ,kept some land for mobile home ) we also have laptops,mobile phones and a band of electricians,plumbers and builders we can call on and work carried out tomorrow as they know wherever we are they will be paid straight away by BACS , so self managing on the move is not a problem ,and online banking makes sure that its in the bank on the due date if not the laptop sends an email after 24 hours. Link to comment Share on other sites More sharing options...
Dave A Posted August 19, 2014 Report Share Posted August 19, 2014 I guess you're right, at the moment we have all excellent tenants and I could live with the above if they stayed. The minute one of them left, then I would start to stress. Dave Link to comment Share on other sites More sharing options...
pij Posted August 19, 2014 Author Report Share Posted August 19, 2014 Hi guys, thanks for all your comments I know a lot of landlords are committed to their current letting agents if they do a good job but whats spurring me on is the number that aren't happy, both landlords and tennats. a simpler format would give myself/staff more time to problem solve and fix issues quickly for landlords/tenants. I am a landlord myself, and have a lot of knowledge, but have always rented privately, doing all the running work and research myself saving on fees etc, whilst working a 48 hour week full time job perhaps an online letting agent would be restricted to supporting landlords who want the research doing for them saving them time, but could still assist in the ongoing issues of a property for themselves? Thanks for all your comments and feedback btw! I will continue to research... Link to comment Share on other sites More sharing options...
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