21 Jun Proptech the key for agents
Tenant Shop Managing Director, Glenn Seddington, spoke to Letting Agent Today about how agents can retain landlords by pro-actively using PropTech and improving their work methods to reduce voids.
“Landlords will be looking to minimise lengthy void periods at all costs and letting agents have an important role to play in saving their clients money, ensuring a smooth changeover between tenancies,” said Glenn.
“With the tenant fees ban now in force, keeping void costs will be an even higher priority for landlords, especially those who are paying higher management fees as a result of the new legislation.”
A study by Kent Reliance, says the average landlord loses £528 each year due to void periods – a figure that’s rising due to average rents increasing and the gap between tenancies lengthening.
A study by the UK Association of Letting Agents suggests that 35 per cent of UK landlords experienced a void period during the first three months of this year, with 63 per cent of these due to natural tenant changeovers.
“By having the right software and processes in place, agents can help to prevent void periods becoming a serious and costly issue for their landlords” Glenn added.
To read the full Letting Agent Today article, click here.