3 Sep

Will easyProperty cost landlords more?

 Landlords who use easyProperty may find it no cheaper than a traditional agent – and could lose out heavily.

Richard Lloyd, of specialist recruitment company Lloyd May, says that costs would be almost identical.

In his blog – see below – he says that a landlord who wanted tenant find, advertising, property particulars, tenancy agreement and deposit protection, hosted viewings, and inventory and check-in services, would pay a high street letting agent £500, while easyProperty would charge nearly £511.

However, says Lloyd, the landlord could lose out on rents achieved because as an online agent, easyProperty might not have local knowledge of market rates.

Rents locally could have increased. Alternatively, they might have gone down, meaning that the cost of marketing an over-priced rental property turns out to be an expensive mistake.

Lloyd also says that letting agents do not get paid until after they have done a considerable amount of work – and then, only when the landlord has confirmed they are happy to go ahead.

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