Following the introduction of the Tenant Fees Act next month, landlords and renters will increasingly appreciate the level of service provided by the country’s best traditional letting agents, according to Tenant Shop.
The utility management service says that due to the financial pressures the ban on fees will put on letting agents, only the best-equipped will succeed as we move through the second half of 2019 and into 2020.
The traditional approach is best
In a post-fees market, letting agencies that take a traditional approach with a focus on high customer service will be of huge value to landlords.
With tenants no longer paying upfront fees, it will be vital that agents help landlords to properly vet prospective renters and ensure that all aspects of the move-in/move-out process – including notifying local councils and utility companies about tenancy changeovers and dealing with stray bills – are handled professionally and efficiently.
“The introduction of the Tenant Fees Act is the most significant change to the private rental sector in recent years and landlords will need full service traditional letting agents they can rely on,” says Glenn Seddington, managing director of Tenant Shop, an Inchora company.
“Having the right tenant referencing, contractual and deposit systems in place will become even more important, as will remain compliant with the new legislation.”
“Letting agents can also prove their worth to consumers by providing a comprehensive, knowledgeable and personal service at a time of huge industry change when people will need reassurance and expert advice,” he says.
Building an offering for the future
As many landlords consider their options following management fee increases brought about by the fees ban, agencies can make their offering stand out by showing clearly the range of expert services they provide for their fee.
“It’s this kind of approach with an emphasis on full service and demonstrating the value for money available to landlords which will see the very best traditional agents take centre stage once the fees ban becomes law”.