Online letting agent Upad has pledged to challenge landlords’ ‘expectations’ with the revamp of its ‘UPay On Success’ product which means that landlords only pay their fee once the tenant has signed a tenancy agreement.
Building on a series of changes to its products which have included the introduction of an alternative deposit option, payment via direct debit and a streamlining of its rental packages, Upad has announced that with immediate effect, its UPay On Success product, charged at £449, is now only payable once a tenancy agreement has been signed.
Upad says that it has made the change after listening to the needs of landlords and providing them with a range of products and services that offer clarity and transparency, whilst remaining competitively priced.
Upad’s founder and chief executive, James Davis, said: “When we launched UPay On Success a year ago, we did so to provide a comprehensive package that supported less experienced landlords who required a suite of products that included everything from a Rightmove Premium Listing, through to professional photography and compliance-proof paperwork. At that time, payment only became applicable once a tenant had been identified and the referencing process commenced.
“Today’s announcement, however, takes that a step further and payment is now only due once the tenant has signed the contract. As the UK’s most dedicated online letting agent, we’re committed to both responding to landlords’ needs, and challenging their expectations.”
As part of the revamp of Upad’s UPay On Success product, the associated terms and conditions have also been given an overhaul.
Complex caveats have been removed and the remaining terms and conditions are clear, simple and straightforward.
Mark Watson, a landlord with a portfolio of properties across North West London, commented: “One of the key reasons that I’ve chosen to let my properties through Upad, is the commitment that the team there shows to continually reviewing the market and responding to the needs of landlords – whatever their bespoke needs may be.
“In an increasingly complex rental market, the straightforward approach provided by Upad should be applauded.”