{"id":13835,"date":"2018-03-26T10:15:49","date_gmt":"2018-03-26T09:15:49","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=13835"},"modified":"2023-10-09T11:35:44","modified_gmt":"2023-10-09T10:35:44","slug":"landlords-save-money-self-managing-online-agents","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/03\/26\/landlords-save-money-self-managing-online-agents\/","title":{"rendered":"How landlords can save money by self-managing or using online agents"},"content":{"rendered":"

The buy-to-let market continues to shift across the UK and it seems that landlords are adapting along with the changes, with more planning to ditch high-street letting agents in favour of cheaper alternatives.<\/strong><\/p>\n

There are around five million households across the UK living in private rented accommodation at the moment, a figure that is expected to rise to around 5.8 million by 2021 – which is almost a quarter of all households in the UK. As a result, landlords and property investors<\/a> are becoming increasingly prominent in the housing market, despite the government’s attempts to cool the sector<\/a>\u00a0and encourage home ownership, and those with existing rental properties are looking at ways to adapt for the future<\/a>.
\n[crb_image link=”https:\/\/www.buyassociationgroup.com\/en-gb\/advice\/property-investment-starter-course\/” image=”https:\/\/cdn2.hubspot.net\/hubfs\/1717782\/Asset_Store\/WebCTA\/cta.jpg” align=”left”]
\nA recent survey conducted by online letting agent Upad, which harvested results from more than 3,000 landlords, revealed that although 21% had used the services of a high-street letting agents<\/a> recently, only 5% planned on doing so in the future.<\/p>\n

The reasons behind this change were varied, with 32% saying they planned to move away from traditional letting agents in order to save money<\/a>, 31% stating that they wanted to use a different approach to finding tenants, and 29% who were more interested in self-managing<\/a> their properties.<\/p>\n

Meanwhile, 83% of respondents said they planned on using an online agent<\/a> instead in 2018, up from the 62% who currently use one – an indication that the use of proptech<\/a> for both efficiency and value for money is becoming more prevalent.<\/p>\n

A new approach for buy-to-let landlords<\/h4>\n

James Davis, founder of Upad, said: “When I set Upad up almost 10 years ago, I did so confident that landlords would become increasingly more interested in approaching their buy-to-let portfolios in new and different ways.<\/p>\n

“The data that we\u2019re releasing today not only corroborates that decision, but highlights just how significantly management of the rental sector is evolving.”<\/p><\/blockquote>\n

Aside from the advent of online agents, self-management has become a more popular option for those landlords who have the time and resources to deal with tenants<\/a> and lettings. Upad’s website registered a 60% rise in enquiries from landlords around how and when to conduct property inspections while the tenants are living there, and a 155% leap in the number of landlords looking into how to renew tenancies<\/a> – from 130 in the first quarter of 2017 to 330 in Q1 this year.<\/p>\n

With letting fees set to be banned by the government, many have speculated that letting agents<\/a> will make up their shortfalls by charging a higher percentage to landlords, which in turn may be passed onto tenants in the form of rent rises<\/a>. This could also prove another incentive for landlords to look at alternatives to using an agent – although they will need to ensure they have the knowledge and expertise, as well as the\u00a0time to commit to fully managing a property and its tenants.<\/p>\n","protected":false},"excerpt":{"rendered":"

The buy-to-let market continues to shift across the UK and it seems that landlords are adapting along with the changes, with more planning to ditch high-street letting agents in favour of cheaper alternatives. There are around five million households across the UK living in private rented accommodation at the moment, a figure that is expected… Read more »<\/a><\/p>\n","protected":false},"author":1069,"featured_media":13848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,4,6],"tags":[15,30,341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/13835"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=13835"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/13835\/revisions"}],"predecessor-version":[{"id":6097188,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/13835\/revisions\/6097188"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/13848"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=13835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=13835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=13835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}