A landlord who advertises on both the Rightmove and Zoopla property portals can expect to receive around 27 enquiries per advert, according to recent reports.
Naturally each listing will need a compelling description to accompany any images of the rental. Typically, owners will angle this description to appeal to the type of renter they hope will submit an offer, highlighting its proximity to university campuses for full time students, or public transport links for young professionals.
Before letting a rental opportunity, landlords must ensure that their property has not only been awarded a valid energy performance certificate, but meets the minimum energy efficiency standards. It is essential for owners to note that if they are unable to provide the occupants of their rental property with a valid EPC Rating, they will most likely be prevented from serving the occupants of their property with a section 21 notice. Properties should also have passed landlord safety checks.
Unfortunately, for landlords that like to take the fully managed approach to letting their property, portals like Rightmove and Zoopla are exclusively available to letting agents and industry members. The justification for this decision is that the professional agents are able to scrutinise each and every listing before it is turned live. This also means that every letting opportunity that is presented to renters using these portals will have a uniform approach to the information they present, making it easier for renters to assess each property at a glance.
Another reason only letting agents – who typically advertise 50 properties a month each – can upload adverts for properties to rent or sell is because the portals only want property professionals to deal with customer enquiries (and which are received directly by the letting agent).
Listing a property with traditional high street letting agents costing landlords as much as 18% of a rental’s annual income, as much as £13,000 each year could be handed over to letting agents. With these agents paying an average of £1,088 each month to host landlord’s advertisements on the platform, owners can expect to pay a hefty premium to cover these costs.
With an average of 45 million visits each month, advertising a rental property on Zoopla is an essential component of letting any opportunity. As can be expected the costs of hosting a rental opportunity across the major letting platforms is included in the letting agent fee landlords will pay, typically residing around £50 to £60.
The two big portals aren’t the only sites advertising properties out there. But they are the biggest and best – as well as the sites just about every house or apartment hunter goes on to first. Rightmove, for instance, say they receive 125 million views on a monthly basis. Zoopla receives around 50 million views over the same period.
Of course, word-of-mouth advertising to find tenants still works for many landlords. So too does the cards in a newsagent’s window. Some landlords contact local hospitals or colleges and ask to be advertised on their intranets.
Whilst using social media platforms to advertise your rental property may be convenient, simple and most importantly for landlord on a strict budget, free, hosting your rental advertisement across platforms such as Facebook or reddit may not yield the results seen across ore prominent property portals. The issue for those looking for new tenants to occupy their rental is the quality of the interested parties, whilst social media may broadcast your property to hundreds of people, these will not exclusively be parties interested in submitting a legitimate offer.
Understandably many landlords will want to know how to advertise their rental property for free. Typically, property owners will turn to subpar practices, such as hosting their opportunity across social media platforms, or submitting an advert in a local publication but as discussed this will be a largely redundant effort. However, PropertyLoop is the world’s first commission free lettings platform, finally allowing owners to go through the entire lettings process without spending a penny.
For years landlords have paid thousands to letting agents that simply rush any tenant into an agreement. When renting with PropertyLoop owners are not charged for the essential components of letting, seeing them be charged for referencing tenants, curating a legally sound tenancy agreement, advertisements on all major portals, registering deposits and collecting rent; all of which are completely free with PropertyLoop.
PropertyLoop brings owners and renters closer together than ever before, connecting property owners with millions of verified renters. Where many traditional high street letting agents, or their online counterparts would charge landlords for each tenant they wish to reference, seeing owners race against mounting fees in the search for their ideal tenant. With PropertyLoop referencing is completely free, not only that but we will provide owners with a rich rental history for each applicant, offering a reference from each of their previous landlords, allowing you to make an informed decision in proceeding
Why continue paying thousands each year in commission to let your property? With 97% of landlords recommending our services, and with over 50,000 tenants joining our rental community in the last year alone PropertyLoop is welcoming a new era of renting.
The PropertyLoop platform establishes the trust, transparency and personal service that has been lost from the renting sector. We are anything but another faceless corporation looking to profit from your investment, but a community founded on expertise and ambition.
We offer landlords complete clarity on available specialists through a landlord controlled rating and review system, giving users complete confidence of your PropertyPro’s proven results in finding owner’s ideal tenants faster.
With PropertyLoop landlords will have everything they need to let out their rental from start to finish, with no hidden fees, financial barriers or catches; only a revolutionary new way to let.