Upad or PropertyLoop Which Is Best for Landlords?

In recent years, and also being expedited by global lockdowns, countless industries have turned to online spaces to better engage with their demographic, paving the way for previously unseen practices and a fresh business landscape. Yet, despite the widespread adoption of online letting agents, alongside a surge in tenants exclusively using online portals to find their next property, the rental market has remained linear in its execution.

Whilst many online agents claim to offer nothing short of full property management, the numerous financial obstacles they place in the way of aspiring landlords does little to develop the practices of their high street counterparts. Whilst platforms like Upad have received praise for offering these services at a fraction of the costs quoted by traditional agents, but how do you find a good letting agent and what is the best online letting agent for landlords?

Is Upad Free?

Whereas with PropertyLoop hosting your rental property across the largest property portals in the market comes free with our service. When trying to match this exposure across Zoopla and Rightmove with Upad it will set the landlord back just short of £150 for each listing. This baseline “UChoose” package comes with a “tenancy compliance service”, hailing itself as a simpler way to serve tenants with the legally required documents. However, Upad must be first provided with these documents, ie: the energy performance rating and gas safety certificate for your property, which are then passed onto the tenant, essentially making landlords provide this paperwork to a middle man for added “convenience.” With this being said, if required, Upad will provide landlords with a gas safety certificate for a fee of £99.

The next available bundle “Uchoose Plus” is currently priced at just under £300, making this service almost double the cost of the introductory “UChoose” package. As you would expect, landlords have their rental property hosted on the usual large online platforms, alongside the “tenant compliance service”, with the extra charges giving landlords the “tenant sign up service”. Paying for this service on its own will set you back £189 and has Upad create the tenancy agreement on the landlords behalf, verifying the document in the process. Alongside this Upad will also collect the tenants deposit and their rent for the first month of their tenancy.

The final service Upad offer is the “UPay On Success Scheme”, with the major benefit being no upfront costs, but that doesn’t mean they have struggled assigning a price. However, this safety and reduced risk of not having to pay until a tenant has moved in comes at a significantly increased cost of £459. This huge premium is slightly offset as for this particular package a professional photography service is provided.

How Much Does PropertyLoop Cost?

Letting out your rental with PropertyLoop is, above all, transparent. There are no upfront costs and we ensure that the landlord for every property we find tenants for is paid before us; with a modest 5% being taken from the rental payment each month.  Once again, landlords only pay PropertyLoop once a tenant is renting their property, and unlike Upad this safety is not put at an exorbitant premium.  With PropertyLoop your rental is advertised across our own platform alongside the established industry names, Rightmove and Zoopla. If this is a landlords first time on the rental market we have decades of experience within the sector to share, expanding the reach and appeal of their rental portfolio to find them the ideal tenants.  Our dedicated team also reaches out to landlords currently searching for new tenants, providing them with a comprehensive update on the levels of interest their property has received and how best to move forward in the rental proceedings.

What Is the PropertyLoop Guarantee?

Our commitment to clarifying and streamlining the renting process isn’t just a tagline. We work to make renting work for you, and the PropertyLoop guarantee solidifies this mantra. Our rent protection ensures that as a landlord you will receive rent every month, if a tenant is unable to pay then we will do so in their place so landlords can have complete confidence in their financial stability. We understand the headache of pursuing late rent, time that could be dedicated to other tenants and properties, not to mention having a little time for you. For tenants that accumulate excessive rental arrears we will recover the outstanding funds on a landlord’s behalf, giving property owners peace of mind that they can comfortably navigate their rental journey.

Of course no landlord wants to see their day in court with a problem tenant, but if there is ever an unforeseen legal matter regarding your rental property we will cover up to £100,000 in legal expenses. We also recognise the unfortunate potential for problem tenants to show up from time to time, in the instance of a dispute over the details of the tenancy agreement, PropertyLoop will cover all the associated costs and expenses. In those instances where a deposit isn’t enough to deter the rough handling of furnishings, we will pursue tenants when the damage caused to the property is in excess of £1000, with the expense of the legal process also being covered. For the instances where the damage to a property doesn’t exceed this threshold, all landlords will be covered by either the deposit replacement scheme or  the security deposit that tenants pay, equivalent to five weeks rent.

PropertyLoop is also at hand throughout the eviction process. We will evict and squatters or tenants that breach their tenancy agreements, with the complete legal proceedings being handled by ourselves; empowering landlords to continue doing what they do best.

We offer the PropertyLoop Guarantee not as an additional package to be purchased, whilst doing so would be in line with many competing online letting agents, we look to create a new practice that provides landlords and renters with exciting opportunities. Once you have a tenant the PropertyLoop Guarantee is in place, there is no additional sign up process or hidden fees.  

How Does Upad Work?

Whilst Upad may be cheaper than their traditional high street counterparts, they still have the landlords doing some of the heavy lifting if they are using the platform to find tenants for their rental property. This leaves the owners of the rental to create their own advertisements, descriptions and photographs of the property which after being approved by an internal team, are then listed across online property portals in the hopes of attracting tenants.

Once the landlord has found their tenants Upad claims that they will “handle the referencing for them”.  Whilst the checks are outsourced to a third party, they will assess the chosen tenants right to rent status, of they are currently employed, affordability check and obtain a reference from their most recent landlord.

However, the luxury of vetting those that could soon move into your rental property will cost the landlord £75 for each tenant they wish to check. Meaning every landlords dream of having high interest in a property, could quickly turn into a financial nightmare.

From here Upad say they can oversee the establishment of the tenancy agreement, securing the deposit and collecting the first month’s rent. Whilst these are convenient, ultimately they aren’t re-inventing the wheel or really offering too much value to landlords. Additionally, with rental essentials such as a property inventory and a direct debit rent collection scheme are once again, another opportunity for landlords to depart with their earnings.

How Does Propertyloop Work?

Signing up to PropertyLoop as a landlord and listing your rental property is completely free. We don’t charge for the essentials, creating financial roadblocks for rental owners, but instead endeavour to find the ideal tenants for each agreement. To ensure that every property is captured looking its best, professionals are freely available to photograph your rental, showing each room in the depth and detail it deserves.

Once the property is listed on not only PropertyLoop’s dedicated online space, but leading property portals, Rightmove and Zoopla, we will provide bespoke feedback on the performance of your property, how it has been received by renters and how they have engaged with the listing. The PropertyLoop platform also allows for the direct comparison of the offers you receive, making negotiating offers directly with the potential tenants seamless. Not only can the landlord speak with potential tenants during the vetting stages but PropertyLoop will throughout verify the identity of each applicant, ensuring you’re amongst friends. Throughout your search for tenants our dedicated support staff are available to answer any of your enquiries via the phone or our online chat portal, establishing a support network for all parties of each rental agreement. As we look to evolve the renting industry our integrated platform will make this contact instantly available at the touch of a button.

At PropertyLoop we endeavour to be more than a letting agency that brings the traditional brick and mortar mentality to an online space.  We provide all landlords with a fully immersive, professionally captured, photorealistic 3D tour. These tours give potential tenants a viewing experience like no other, allowing them to enjoy the rich detail of each property at any time, in any place. This complete property viewing package allows landlords to utilise a sweat of new media, being able to highlight the true character of their property through seeing the property from a floor plan and ‘dollhouse’ perspective, alongside a captivating ‘explore’ function, utilising AI to map bullions of reference points around the rental for the most engrossing walk through experience.

Referencing tenants with PropertyLoop allows you the complete freedom to find your ideal tenants. We don’t charge an a fee for each reference check performed, instead only taking a small fee after you have you first month’s rent.  The compressive vetting process provides landlords with the fullest picture possible before choosing who to let into their rental property.  Whereas our competitors such as Upad or OpenRent will merely check the tenant’s relationship with their most recent landlord, PropertyLoop recounts a prospective renter’s entire letting background, obtaining a reference from each tenancy each tenant has entered, allowing tenants to truly know who they are renting to. The identity of applicants is also rigorously assessed, with their government and photo ID’s and contact details being verified.

Upad or Propertyloop? Which Is Best for Landlords?

Whilst Upad offers a range of services to entice landlords, these basic needs for the renting process to be completed are held at an increased cost, with the components landlords would most appreciate whilst finding new tenants such as referencing checks, the transfer of documents and the help of professional photographers coming behind a steep pay wall. This isn’t the transparent service that offers security and confidence to landlords.

PropertyLoop works to create a new dynamic between renters and landlords. A space that facilitates direct communication between the involved parties, for a clear and hassle free tenancy. Our PropertyLoop Guarantee extends an industry leading safety net to landlords, ensuring they not only find a secure tenancy but have the means to seamlessly oversee their entire portfolio.  But landlords are not just choosing to rent with PropertyLoop because of our streamlined approach. Through the online PropertyLoop Portal landlords are able to receive secure rental payments directly into their bank accounts on the very same day the tenants pay.

Whilst Upad does offer a no upfront cost approach, if you pay for the right package, it still doesn’t provide the encompassing service given by PropertyLoop, and even then landlords still don’t avoid the costly referencing fees. Whilst a professional photographer is offered by Upad with this high band service, PropertyLoop provides a range of ground breaking property viewing media formats to immerse tenants and spare property owners the expense and hassle of multiple viewings.

Property Loop has set out to create a supportive global network, connecting owners and renters to change the typical renting dynamic into one of trust and community, making the renting journey easier than ever.  Whilst we are at the forefront of the industries digital revolution we have not forgotten the personal, tangible connection that landlords and tenants rightfully expect. Our platform not only streamlines all aspects of finding tenants to managing properties but upholds clarity and innovation for the benefit of renters everywhere.

In recent years, and also being expedited by global lockdowns, countless industries have turned to online spaces to better engage with their demographic, paving the way for previously unseen practices and a fresh business landscape. Yet, despite the widespread adoption of online letting agents, alongside a surge in tenants exclusively using online portals to find their next property, the rental market has remained linear in its execution.

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