Online Letting Agents Push Traditional Agents into the Past

30 October 2012 Categories: News

Online Letting Agents Push Traditional Agents into the Past

It seems the age of the internet has really taken hold of the property industry as more and more buy to let landlords turn to online letting agents to successfully rent out their properties. Comments from landlords who are already using the internet to advertise their vacant properties often refer to how easy the process is compared with the traditional high street agencies and how much money they save in the form of letting fees by cutting out the middle man.

Various online letting agency websites now offer services such as ‘tenant find’ and ‘paperwork completion’ which means the vast majority of the work is done for the landlord – much in the same way as with a high street letting agent but much cheaper. In fact, some online agencies, such as Tenants4U, charge prospective tenants a registration and referencing fee rather than the landlord, and if a basic package is chosen it is possible to advertise and let a property for virtually no money at all.

So is it the end for the traditional high street letting agent, or will they find a way to fight back against the massive savings that can be found by landlords on the internet?

Those who have already converted to the online way of life say it’s a done deal but there are still thousands of skeptical landlords sticking to traditional methods.

In other words, the fight isn’t over yet.