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TODAY'S OTHER NEWS

Online letting agency launches new subscription model for landlords

It is becoming increasingly clear that some letting agents may not survive the tenant fee ban coming into force next spring and that largely explains why online letting agency MakeUrMove has launched a brand new subscription model for landlords.

The new model will include no fees for tenants, while landlords will pay £12 a month on the ‘Good Landlord’ subscription to access a wide range of services, including Rightmove and Zoopla advertising, tenant referencing, rent collection, legal eviction services, property licence checking, as well as documents and renewals.

The £12 per month subscription model will be offered alongside a basic package, which will include advertising and one downloadable tenancy agreement. There will also be a standard package offered at a one-off cost of £96, which will also include tenancy documents and deposit lodging, rent collection for 12 months and advertising with the major property portals

Alexandra Morris, managing director at MakeUrMove, said: “The tenant fee bill is going to affect the whole property industry. The most innovative agents will look to technology to reduce costs. We’re at the forefront of this as the first agent to come out and support the tenant fee ban. As a tech platform, we’re constantly developing and will be adding new features as standard to our package. We want to be a landlord platform rather than a letting platform.

“Last year we conducted some research that suggested that 25% of landlords and 85% of tenants didn’t understand the upcoming ban so it’s now our responsibility to prepare landlords.

“We’re confident that our new subscription model will do this, while providing peace of mind and security for landlords, knowing that they will pay a fixed cost of £12 per month with no prices increases over the term of their subscription, as well as benefiting from referencing, legal eviction cover and renewals included as standard.

“This whole focus behind these packages is to try and mitigate costs for landlords when it comes to having an empty property, as well as supporting them and reducing the risk of non payment of rent.”

Poll: Would you use an online letting agent?

PLACE YOUR VOTE BELOW

  • Andrew McCausland

    Another day, another on-line agency launches a breakthrough model. Many high street letting agents will no doubt close, but how many of these on-line models will be around in the next 12 months?

    We all like a disrupter coming into the market and changing a business for the better. I must admit to being a bit bored now hearing about another "new model" in estate agency. They do all seem to be doing very similar things to the already established but forward thinking high street agencies - the ones with an established business base, local contacts and industry knowledge. Plus ça change, plus c'est la même chose.

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    I'm not tempted by these online agents, i have a very good independent local agent i have used for many yrs now, they know the type of tenants i want, and the types i don't, we work well together.

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    I tried one of these online agencies once to sell a house.
    Had one person interested who failed to turn up for the viewing.
    They are cheaper but certainly not better, it was a total waste of money in the end.

     
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    Avoid, simple.

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