How to Approach Real Estate in the Digital Age – The YouRent Solution
Mark the date in your calendar because from 1 June 2019, parliament finally addressed the unnecessary charges that landlords and estate agents demanded from tenants. Gone are the days of stumping up a ridiculous fee for cleaning the property, or paying £200for the preparation of paperwork, thanks to the Tenant Fees Act. This landmark ruling has essentially changed renting forever, but the jury is still out on how both sides will react, with plenty of plot twists still expected.
Currently the pendulum has swung in the direction of the landlord, who will have to find a new way (through suspected loopholes) to fill the property with the right tenant while still turning a profit. Initial estimates suggest landlords could stand to lose over £80m in the first year, which is a cosmic change in the property industry, so marketing is key.
Now there will be a mad rush to make up the difference to cover mortgage costs and still balance the books. It is a business after all, and a large investment for anybody to take on. So how will you continue to market your property? Where will your new business come from, with estate agents limited in taking excess fees from prospective tenants?
We are a platform for landlords to market their properties on frequently visited marketplaces such as Rightmove and Zoopla, all for a discounted fee. Sounds good, right? Our website will not only save you money but can also help you keep in contact with your tenants wherever you are, using cloud API to communicate with multiple property portals. The platform facilitates constant communication easily and efficiently, so you are always in control.
It doesn’t matter how many properties you have. Whether it’s your very first investment in real estate or you own multiple properties to let, it can be costly and difficult to market and manage your properties successfully. Keeping track of your tenants past, present and future needs a system that gives you organisation and peace of mind.
At YouRent, we have a number of packages to suit you. Our team of developers have created a smooth website to track each properties status. You can login to your online dashboard on any tablet or mobile phone for easy navigation and convenience on the move.
With tenants (for now) given back the opportunity to save large sums, the lettings industry will be even more competitive, with online marketplaces becoming the dominant area for advertising properties to let. The likes of Rightmove and Zoopla are the main portals for the majority of customers looking to rent, whether a family, couple or group of friends, but there are alternatives too such as Gumtree and Prime Location. We market with all of those, as well as showing your listings on YouRent free of charge too.
For tenants, the wait is finally over after two years of negotiations about how the government can reduce charges, which were unwarranted, unfair and unnecessary when renting a property. It has taken countless discussions in houses of parliament to decide on these rules, while doing their best to protect the landlords investments.
On average, reports suggest savings of £400 in admin fees in the UK, which is great for those wishing to create greater financial health. Who doesn’t want to save for their own house? Before, with some charges for renting racking up in the thousands – before even picking up the keys to your dream home – purchasing your own home was unimaginable.
Now, with no more check out and guarantor fees, referencing, renewals or credit checks, the scope is there for a tenant to have greater options where they live. However, with any good news comes the inevitable tidal wave of change. Although you can now save money in needless fees, landlords will more than likely try to increase the price of rent to prevent a heavy loss of profits.
With YouRent, we offer the perfect service to subscribe as a prospective tenant. Each property will update instantly, notifying you if it is still available and providing a list of similar suitable properties in the area you prefer to live, via handy email alerts, which you can unsubscribe to at any time.