Renting out a property can be a laborious process where plenty of important decisions need to be made. Where do you place the ad? How much will you charge per month? Who manages the tenancy? How do viewings occur?
There’s also a new consideration: how do you market the home? Traditional marketing methods are being overtaken by those offered by online estate agents, who can handle the tenancy in a practical, methodical manner, often at a vastly reduced price. Here are some of the benefits:
1) One of the biggest disruptions to the status quo is the sheer savings that can be made, for sales and renting. The upfront fees system created by online agents allows one to choose the package they need. It’s a one-stop shop that can be digested from one’s home at any time – if you suddenly decide to put a home on the rental market at 3am or while you’re on holiday on the other side of the world, it’s easily achievable.
2) One of the advantages of customising the package you desire is the money you can save. For example, if you know how to take a decent photograph to showcase bedrooms, bathrooms and kitchens, and have an architect friend who can put together accurate floorplans, then you have little need to pay for the service. Similarly, if you’d rather deal with rent collection directly, then don’t pay for it as an optional extra.
3) Most online estate agents worth their salt promote your property on the heavyweight portals such as Rightmove, Zoopla and Primelocation, plus other smaller sites of interest. Online agents allow reach around the world or country or locally, and also give you a platform to link to from your social media pages.
4) Imagine the hassle that you’d face if you decide you wish to change your advert subtly for a traditional estate agent, who has placed the home in print, newspaper websites, and in their windows. Phone calls would be needed, postings would need to be replaced, and it might take several days for the alterations to be made.
Now online letting agents let you make the alteration whenever you choose once the item is placed – simply log on and make the change.
5) You may have marketed a home for rent before and feel guilty about leaving a tried and trusted high street estate agent whom you’ve used before. If that’s the case, and money is a lesser consideration, then check with the online agency – you may be able to use both simultaneously.
6) The numerous other jobs that need to be done can all be achieved online. Tenancy checks and agreements are organised and signed through the agent. References will also be assessed, standing orders can be set up, and deposits can be registered.
7) Renters will also enjoy the experience, and save time on trawling along the streets visiting estate agents, by siphoning out the properties of no interest or in the wrong area.
A simple registration will allow homes that could be interesting a potential buyer to be sent straight to the inbox, or alternatively someone will call to discuss. After that the process is fairly identical to high street estate agents; viewings, applications, agreements and completion, in order, with face-to-face meetings for handing over keys, etc. But the initial search is far easier.