Is a High Street or Online Letting Agent Best?Written By PropertyLoop February 12, 2021
An online letting agent will be less expensive than a High Street agent and, chances are, their marketing will be better too. Then again, some people just feel more confident with face-to-face contact and an agent who lives locally. Here’s a few issues to ponder about both types of letting agent while you make up your mind:
Should You Use an Online Estate Agent?
High street letting agents tend to have a good handle on local areas – much more than online letting agents. Having said that, the latter will have access to data analytics to tell them how popular certain areas are and what the selling prices are etc. If you live in the same town or city as your property though, then you’ll already know the area well.
How Will They Advertise Your Property?
Your typical high street letting agent will use their shop window to advertise your property, as well as portals such as Rightmove and Zoopla. Online letting agents are more au fait with online marketing methods and know how to get before would-be tenants on their phone or computer screen.
Are They Easy to Get a Hold Of?
High Street letting agents tend to work 9am to 5pm. That can be tricky if these are the hours you too work. And maybe your tenants are in the same boat? Unless your letting agent is available in the evenings and at weekends, you could end up finding communication difficult.
Online letting agents will give you a phone number and email address which are both covered out-of-hours. There’s usually an online chat feature too and which usually results in a speedy reply.
Will I Do My Own Viewings?
You will do your own viewings if you use an online letting agency. But then, at least that way you’ll meet your tenants and get a gut feeling about them. A high street agent will do the viewings for you – which is a big help if you work full-time and simply don’t have the time to do it yourself.
Who’ll Manage the Property?
Most high street letting agents offer a property management service. This means they act as a buffer between the tenant and landlord by attending to the repairs, drawing up the lease, collecting rent etc.
Some online letting agencies do offer a property management service by delegating to local companies for repairs etc. They often use third parties for tenant referencing and inventories etc. In this way, they give you a choice of what you want to pay for, and what you are happy to do yourself.
How Do Online Estate Agents Cost?
In London a High street letting agent will charge 15% for full property management and 8% to 12% for let-only services. Not having physical premises means online letting agents have fewer overheads. This makes them less expensive for landlords to list their property since they only charge a small fee for advertising.
In summary then, if you want the expertise of a knowledgeable letting agent when first starting out, then go down the High Street route. If you’ve already rented a property and want to save money by doing the landlord duties yourself, then go for an online letting agent like ourselves here at Property Loop.
Looking for an online property agent you can trust? Then get in touch with the team here at propertyloop.co.uk.
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