The UK lettings market has seen a surge in popularity of online agents in the last ten years. These agents allow landlords to advertise their properties on major property portals like Rightmove and Zoopla at a lower cost. However, one drawback is that online agents lack a local physical branch for landlords and tenants to discuss matters face-to-face. For landlords who value this interaction and require guidance on legal requirements and market trends, working with traditional agents is recommended.
Traditional agents who are members of industry self-regulating bodies, such as ARLA Propertymark, have trained staff with access to legal support. Moreover, all Principals, Partners, and Directors of such agencies are required to achieve qualifications in residential lettings. This ensures that landlords and tenants are dealing with professionals who have a comprehensive understanding of letting and adhere to the highest industry standards. Local agents have a better understanding of the markets they operate in, and they are familiar with local regulations and conditions that can vary even from one street to another.
Traditional agents offer several advantages over online agents, such as in-person meetings, references, property inspections, and prompt resolution of issues. With over 400 rules and regulations to comply with, it can be overwhelming for landlords to keep up. Working with a traditional agent who is knowledgeable about the local market and has the resources to address these concerns ensures that properties are legally let, returns on investments are maximized, and landlords can always speak to someone in person.
Professional landlords with adequate time to stay updated on legal and market trends may find online agents sufficient. However, if you are a part-time landlord or new to letting, working with a traditional local agent is highly recommended. For more information on how The Acorn Group can help you make a success of your let, contact your local branch for a no-obligation chat or book a valuation online in just a few minutes.