A survey by PropTech firm Goodlord suggests that 68% of landlords use full property management services, but 59% cite high fees and poor value as major frustrations. 

Just 6% of landlords describe themselves as “very satisfied” with the value for money they’re currently receiving from letting agents.

At the heart of this perceived lack of value is a breakdown in communication between agents and their clients. 

Although a majority (67%) of landlords report being “satisfied” with agents’ communication overall, 1 in 2 (48%) cite lack of communication as one of their top frustrations. 

But letting agents aren’t happy either. 

When asked about their biggest operational bottlenecks, 1 in 5 (20%) letting agents said they were spending too much time on admin, making it the single greatest issue draining their capacity. 

The findings suggest this isn’t just leading to increased workloads, it’s actively stymying growth. 

According to the survey, more than three quarters of letting agents (76%) say time spent on admin is limiting their ability to grow, with managing maintenance the most commonly cited admin task causing operational backlogs. 

This means the admin burden facing letting agents outstrips preparations for the Renters Rights Act (72%) and difficulty securing new business from landlords (65%) as the primary factor inhibiting growth across the sector. 

A Goodlord spokesperson says: “As the PRS becomes increasingly complex and heavily regulated, letting agents’ ability to help landlords navigate the market has never been more valuable. 

“However, the results of this survey point to a clear disconnect between the priorities and frustrations currently felt by agents and landlords. 

“The issue isn’t that agents aren’t working hard enough, or even that they’re not delivering. It’s that the value of that delivery isn’t always visible. 

“As it stands, it’s evident that at least some elements of the PRS are broken. 

“Fixing the underlying breakdown in communication is the first step to addressing these. 

“Failure to do so risks damaging trust at a time when the relationship between landlords and letting agents is more important than ever.”