Landlords, Private landlords, DIY Renting, Generation Rent

Seven reasons why landlords prefer renting online

Two-thirds of landlords in the UK either manage their properties directly or at least some of the renting process themselves. [1]

This astonishing figure means that 1.3 million landlords in the UK self-manage their properties to a lesser or greater degree.

Renting-online

So what drives them to roll up their sleeves and manage their property and tenants direct? Here are the seven most common reasons.

1. Tenants are happier

Tenants who have a personal connection to a landlord by meeting them at the outset and dealing direct during the tenancy feel reassured that the ‘personal touch’ will give them access to a better service.

2. It’s easier to vet potential tenants

If you conduct your own viewings then it’s easier to get a feel for which people will be the best tenants. Also, it’s an ideal opportunity to find out more about them than a reference firm would do.

But should you not want to do viewings, we offer a revolutionary new key-holding service thanks to our growing community of ‘HomeViewers’. So, if your portfolio is difficult to reach or if you’re simply 'time poor', finding and booking a local HomeViewer via HomeRenter could be the answer.

3. Tenants behave better

When a landlord manages a property direct and strikes up a good working relationship with their tenant/s then there is a much better chance the tenant will take a greater responsibility for the property, and therefore fewer problems are likely to arise.

4. Finding tenants is less expensive

Landlords who use HomeRenter pay £49.99p for each property listed on our site compared to the many £100s, and sometimes £1000s of pounds, that agents can charge each year to fully manage a property. One of the UK’s leading agents, for example, charges 12.5% plus VAT to let, renew and collect rent for its landlord clients each year. [2]

Also, we offer landlords a free DIY tenant referencing tool called HomeReferencer so, if you’re confident to conduct referencing yourself, there's no need to pay to check out potential tenants again.

5. Costs are easier to manage

Landlords who self-manage their property can decide which plumbers, builders and electricians they use and how much they pay for their services.

6. Cashflow is healthier

For many landlords, renting their property enables them to improve their cashflow by not paying to use an agent.

7. You can do it on top of a job

We believe that most landlords can self-manage up to four properties and still have a full-time career on the side.

References
[1] https://www.cml.org.uk/news/press-releases/cml-research-survey-of-uk-landlords/
[2] http://www.savills.co.uk/services/buy-sell-let-rent/letting-or-renting-a-property/landlord-charges.aspx

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About Will Handley

Private landlord and prop tech founder writing about all things property, lettings and start-up.
  • London