Tenancy Fees

Tenant Fee Ban

Tip 6: Move Landlords Back To A Managed Strategy

Now for this one you need a bit of a retrospective scope. It’s to change something that a lot of agencies actually put in place 4 years ago, which was to move away from a managed service to a let only service, theory being that there was actually more profit in let only than there is in a managed service. Well, with the fees going obviously a managed service is a lot more attractive and it does generate far more revenue. So, the strategy is to move your landlords back to managed strategy. We all know a managed strategy is actually better for the tenancy, all that you as the agent should do is help the landlord understand why it’s a benefit. I’m sure you’ve got your own ideas as to how you’re going to do this but if you need any help, give us a call on 0800 328 …

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Compliance

Taking a more balanced view of letting agent fees

We have been reading with interest how the industry has been lambasted in the press and is being attacked on all sides. Foxtons branches being assailed, articles on “rip off” lettings agents and even our own industry press having a go with lead headlines showing images of a dodgy characters pocketing cash. We wanted to take a more balanced view and try to ascertain if the fees charged were unreasonable. Talking to a selection of our clients using our letting agent software to ensure this was not just London centric we came up with a simplified list of the works that an agent does and assigned a cost to it, per property, based on a branch managing 50 properties with an additional 20 let only over 1 year. Create a brand and reputation to attract landlords £326.00 Provide a rental valuation £54.00 Create floor plans £80.00 Take marketing pictures £60.00 …

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