Online letting agents: what are they?
Typical letting agent fees start from 10% exc VAT, rising to as much as 17% for property management. However, many online letting agents (like easyProperty) offer fixed-fee services and no commission — saving landlords thousands.
According to HomeLet’s 2016 Rental Index report, the average UK rent is £902 per calendar month. Landlords often pay over a month’s rent in agent fees if they use a traditional letting agent to find and manage tenants.
By using an online letting agent, landlords should keep more rent in their pocket.
This blog covers:
- How are online agents different?
- How do online letting agents work?
- How do online letting agents benefit landlords?
- How easyProperty can help.
How are online letting agents different?
Online letting agents save on overheads by taking their services off the high street — savings that are passed on to landlords. The costs involved with high street branches, branded cars, and chillers full of mineral water don’t apply to online letting agents.
They also provide economies of scale by operating across the country.
How do online letting agents work?
The lettings process is the same for landlords regardless of whether they use high street or online letting agents. The difference is that high street letting agents traditionally offer a one-size-fits-all approach, which doesn’t give landlords much control over the service — or the cost.
Online letting agents, on the other hand, often give landlords more control over how their properties are let and managed.
How does it work with easyProperty?
- You’re in charge. Choose your service
- Landlords choose exactly how much help they need, and when. Some landlords only need a tenancy agreement, whereas others may need photos, marketing on Rightmove and Zoopla, or tenant referencing. All easyProperty’s services are available on a low fixed-fee basis, and our lettings packages truly offer great savings.
- Manage adverts, enquiries, and viewings 24/7 with your dashboard
- Gone are they days where landlords must rely on office opening hours to change their adverts, take enquiries, and arrange viewings. Landlords can now communicate directly with tenants.
- Happy letting!
- If circumstances change, landlords can choose additional services as and when they need them. For example, if landlords need a property inspection — no problem. A tenancy renewal? We can sort it. You only pay for what you need.
Landlords know their property. That’s why they’re in the best position to show tenants around — and save a lot in the process.
The busier or long-distance landlord, however, can customise their service and buy Hosted Viewings if they’d prefer to leave it to a professional.
How do online letting agents benefit landlords?
Since online letting agents don’t have costly overheads, landlords reap the benefits. The same price for the same service — anywhere. Tenants also benefit from using online letting agents. With easyProperty, they only pay £49.99 each for referencing — so it’s free for landlords.
Landlords pick the services they need, and pay for nothing else. A truly tailored experience.
If landlords can reduce their letting costs, it means they don’t have to increase rent to turn a profit. In the same way easyProperty passes savings on to landlords, landlords can pass savings on to tenants. Affordable rents may help landlords keep tenants longer.
How easyProperty can help
Our fixed-fee packs are great for finding tenants and providing everything you need to secure a let.
Tailor any pack with our range of products, or use them individually. EPCs, Gas Safety Certificates, inventories — and much more.
Only 3.6% inc VAT, our property management offers huge savings when compared to high street agents. Tenancy admin, rent collection, and 24-hour emergency repair coordination. No hidden fees, and no nasty surprises.