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Do you know there are around five million households across the UK living in private rented homes in 2018, and is expected to rise to around 5.8 million by 2021.
Landlords with existing rental properties are looking at ways to adapt for the future, especially with the governments ban on letting agent fee’s. No-one knows how the high street letting agents are going to react, some will ultimately pass the loss of fee’s onto the landlords and other will find different ways to charge the tenant.
A recent survey conducted by online letting agent Upad, which harvested results from more than 3,000 landlords, revealed that although 21% had used the services of a high-street letting agents recently, only 5% planned on doing so in the future.
32% said they planned to move away from traditional letting agents in order to save money.
31% stating that they wanted to use a different approach to finding tenants
29% who were more interested in self-managing their properties.
83% said they planned on using an online agent instead in the future, up from the 62% who currently use one – an indication that trust in high street agents in fading.
Online agents has become a more popular option for those landlords who do not have the time and resources to deal with tenants and lettings
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