A number of buy-to-let landlords currently do not use letting agents to find or manage properties, and it has been suggested that many more would like to do the same.
Many landlords pay handsomely for letting and management services, and so would undoubtedly like to cut back, or scrap the need to pay agents’ fees.
The research reveals that 87% of landlords would be happier renting directly to their tenants, rather than via a traditional letting agent.
The survey found that landlord frustrations included high fees and poor service provided by letting agencies (52%), bad tenants (50%), managing repairs and maintenance (42%), new tax rules and regulations (37%) and finally general admin headaches (33%).
But the study should be taken with a pinch of salt because it was undertaken by HomeRenter, an online letting platform that aims to create an Airbnb style marketplace for the UK’s private rental sector, removing the need for a conventional letting agent.
However, Will Handley, CEO of HomeRenter, insists that there is a clear dissatisfaction from both landlords and tenants towards traditional estate agents.
He said: “The majority from both groups [landlords and tenants] feel the service provided is not up to scratch and would rather cut out the middle man and connect privately with their landlord.”