The eighth instalment of ZPG’s Nation report cites quality tenants, transparency and speed to let as being the top needs of landlords. Over half of the landlords surveyed listed ‘quality of tenants’ as their most important need, while less than a third were interested in how many tenants a letting agent has on their books. Clearly, quality is prioritised over quantity, as good quality tenants are likely to cause fewer issues for landlords.
There are also notable gaps between what landlords say they need and what they feel agents actually deliver. The biggest gap here is around transparency on fees and the whole letting process, at 32%. Good rental valuations and being able to deal with maintenance issues also scored highly on the list of needs, yet aren’t seen as always delivered. Whilst it may be hard for agents to have complete control over the quality of tenants on their books, meeting the second biggest demand – transparency – is much more achievable.
Landlords and letting agents can be time poor, with constant business pressures. If letting agents do not have a comprehensive solution available to give landlords access to a clear and transparent understanding of everything that’s happening in the course of the letting then they could be missing a trick. As landlords get used to using online management tools with one agent, they’re likely to come to expect it as a given across the industry.
For those letting agents who wish to offer such a service, ZPG’s PropertyFile tool could be the answer. Using PropertyFile, they can provide landlords access to an online self-service solution, allowing them to monitor if rent has been paid and check up on any maintenances issues, at any time of day. The constraints of needing to keep in contact during office hours are now removed, freeing up both the landlord and letting agent. Landlords have greater transparency and quick, easy access to the answers they need, and the letting agent’s reduced time spent on day-to-day issues can be reinvested into business growth activities.