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Why the best letting agents will take centre stage post-fees ban

Wednesday 19 June 2019

The tenant fee ban is finally here and in a post-fees market, it will inevitably be letting agencies that take a traditional approach with a focus on high customer service, that will be of huge value to landlords.

Following the introduction of the Act, landlords and renters will increasingly appreciate the level of service provided by the country's best letting agents, with those that are well-equipped and well prepared in the strongest position as we move through the second half of 2019 and into 2020.

The introduction of the Tenant Fees Act is the most significant change to the private rental sector in recent years and landlords will need full service letting agents they can rely on.

The traditional approach is best

Comprehensive, knowledgeable and personal service at a time of huge industry change when people will need reassurance and expert advice will be key. The right tenant referencing, contractual and deposit systems will become even more important, as will remaining compliant with the new legislation. ARLA Propertymark have of course produced a Tenant Fees Toolkit that is designed to do just that, with practical tips and guides to help in readiness.

With tenants no longer paying upfront fees, ensuring that all aspects of the move-in/move-out process (including notifying local councils and utility companies about tenancy changeovers and dealing with stray bills) are handled professionally and efficiently will be imperative and this is one of the ways Tenant Shop can help.

Building an offering for the future

As many landlords consider their options, agencies can make their offering stand out by showing clearly the range of expert services they provide for their fee.

It's this kind of approach with an emphasis on full service and demonstrating the value for money available to landlords, which will see the very best traditional agents take centre stage.

Building additional revenue streams to replace lost fee income and working with the best suppliers can help agents to earn referral fees and subsequently keep clients' costs down. Meanwhile, providing access to leading utilities services such as Sky, Virgin and Scottish Power can also help to keep tenants happy, encourage them to stay for longer and therefore reduce void periods for landlords.

So how can Tenant Shop help?

We are an award-winning utility management supplier to the lettings industry having taken the title of ‘Best in Sector – Tenant Services’ at the ESTAS for the last five years.

The 100 strong team have been working with Letting Agents to help them reduce workload and improve profitability for over ten years. Our utility management service streamlines the notification process, resolves billing queries and offers dedicated account management.

We offer a proprietary software platform, Sulu that helps you manage tenancies and automates a unique void solution in partnership with ScottishPower.

Our accredited Product Consultants deliver a 5* TrustPilot experience, working to find tenants the best deals on energy, broadband / TV and a range of Insurance products for landlords and tenants. We offer choice of market for energy switching services, work with Sky, Virgin and Talk Talk to provide media solutions and offer insurance cover from some of the leading Insurers in the UK.

By offering both agent and tenant services, with enhanced commission rates for ARLA Propertymark members we want to help you in the post fee ban world. For enquiries please call on 0203 8239 394.