Picking the right letting agent is of paramount importance to a landlord, especially in cases where a letting agent is going to manage a property for the foreseeable future. The right letting agent can be the difference between a stressful vs. peaceful landlord experience and a profitable vs. loss making investment. This is why comparing fees & performance before selecting a letting agent is always recommended.
But how do you do this?
The most obvious way is researching the web for articles & recommendations. Or maybe going to individual agent sites and seeing what’s on offer and for what price – but be aware, researching fees can be complex with hidden fees ready to sting you at a later stage.
I shudder at the thought, but perhaps leaving your house & visiting your high street to talk to local agents face to face(!) is a good option for you.
All of the above are very very time consuming (and booooorrrrinnngg).
(Re)-introducing Rent Round
It’s clear that a price comparison site for letting agent fees is paramount to savvy landlords, due to the growth of online platform Rent Round.
The value being provided to letting agents is also proving substantial. Agents are listing their services on Rent Round nationwide every day. As a result, they obtain true leads of landlords looking for agents to manage their rental property.
Operating under different guises for the last 2 years, 2019 has seen the platform improve and grow.
Benefits for landlords
Landlords get a clear view on property and letting agent fees & comparing is a lot easier. Different levels of service and what fee (whether fixed or % of rent) a landlord can expect from the letting agent are shown. The levels of service are tenant find, fully managed or guaranteed rent offerings.
To avoid landlords reaching out to agents who don’t offer the full range of services they need, also displayed is exactly what the letting agent does. So if a landlord’s looking for an agent that finds tenants and also covers maintenance, he/she will have that information from Rent Round.
Vital to managing a property well is how far the letting agent is from the property. That’s why Rent Round allows landlords to search for letting agents using their postcode. From the point of a landlord entering their postcode, they see results to compare letting agents within 20 seconds.
There is always the risk of a letting agent being the cheapest, but consequently providing a below par service. Rent Round orders results based on the agents rating, which is a mash of various rating sources in the property industry. This provides security that the landlord is getting a reputable agent without having to do hours of research themselves.
So what’s in it for letting agents? Once a landlord has compared and then picked their letting agent, it’s easy for contact to be made between the two parties. With a click of a button, the landlord sends their contact details to the agent for a deal to be made or further questions to be answered.
There’s no constant logins to dashboards or email alerts from Rent Round to complicate landlord and agent discussion. Rent Round at this point takes a step back for the agent and landlord to have a direct discussion to make life simpler.
Rent Round can do this as we they don’t take commission from agents (so therefore no need for Rent Round to monitor deals made from a lead etc).
Listing your agency
Joining Rent Round as an agent is simple. First you need to enter your agency details; an introduction of your agency, number of years in operation and contact details for landlords to reach out to you on.
Then it’s a matter of adding the coverage areas of your agency. Rent Round allows you to enter up to 3 postcodes. Each of which you’re then requested to choose the mile radius around that postcode. This indicates the regions you want to start receiving leads from.
How much does it cost?
Rent Round charges £29.99 a month, which can be cancelled anytime. They like to point out that this low cost is easily outweighed by just 1 commission made from them.
They have some temporary incentives running right now too. You have the option of signing up for the entire year and get a 50% discount.
On the other hand, you can take a free month no obligation trial, using PROPERTYMGR during the signup process.