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TODAY'S OTHER NEWS

Landlords could save more than £1,300 a year on letting agent fees – claim

Buy-to-let landlords could save hundreds, if not thousands of pounds every year by not instructing a letting agent to let their property.

The latest rental market data from Homelet shows that the average UK monthly rent in June was £924, and so based on a typical high street letting agency management fee of around 12%, the average landlord could be spending in excess of £1,300 each year on letting agent fees, according to HomeRenter.

The company is keen to deter landlords from using high street letting agents as it wants to encourage more people to sign up to its online rental platform, which aims to cut out the middle man, and is available from £49.99.

HomeRenter is currently offering a six-month free trial which includes 30 days of free advertising on Rightmove and Zoopla, a viewings service, tenant enquiry management and referencing tools, access to digital lease contracts and a To Let board.

“Our offer is open to the full spectrum of rental homes from buy-to-let investments, second homes, through to rooms to let in house-shares by live-in landlords and HMOs,” said Will Handley, CEO and co-founder of HomeRenter.

He added: “Thanks to Section 24 and a raft of tax measures penalising the buy-to-let sector, private landlords are having an incredibly tough time of it in 2018 so we like to think our summer free trial promotion could be a real fillip for landlords looking to take a break from sky-high letting fees.”

Poll: Would you consider using HomeRenter's online rental platform?

PLACE YOUR VOTE BELOW

  • Bill Wood

    I need an agent that can get leaking taps and broken boilers fixed. And trees cut down. And roofs mended. And drains unblocked. And doors fitted. And fences mended. And..and..and..
    Can Homelet do this ?

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    Thank for the industry support Bill. Good post

     
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    I think Homerenter, whilst a fair idea in isolation, doesn’t recognise or masks what agents “really do”. That’s not taking money for nothing or driving around looking at nice houses..or not, but working tirelessly, 24/7 to ensure landlords and tenants are well cared for and maintenance is responded to quickly, carried out well at a fair price.

    Having been involved in rental property for over 40 years and having just sold our agency due to retirment it is a very difficult job to try and keep all concerned happy in the micro monitored world we live in now.

    Try and manage/run rental properties on the cheap and I guarantee you will pay a heavy price later

    I genuinely wish the company well

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    Is anyone still getting 12% plus VAT management fee? So many so called letting agents are offering much less than that. They are going the same way as estate agents in cutting fees in the vain hope of getting more business. But they will soon find out that office running costs divided by number of lets = more than £49.99, good luck. So go back to Bill Wood's comments above which is oh so true.

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    Will only use good agents to Tenant Find and Deposit protect for a £200 fee , good professional landlords will have their own maintenance team and carry out their own Inspections every 3 months. I have known agents to mark up too much for simple call out, ie gas water pressure drop £150!!!! To reset.

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    I have just paid £900 to a specialist letting agent in Glasgow for tenant find, but they are getting me £2100 per month for a 4 bedroom flat that I had only been getting £1500 per month for - so money well spent this time. Next time? We'll see what the benefit is then. Moral? If agents add value then I'm happy to use them, but not otherwise.

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