How do landlords find their agents? Survey compares online with branches

14 April 2021 | Renting

How do landlords find their agents? Survey compares online with branches

A survey by a comparison website suggests landlords are evenly split about how they find letting agents.

Some 28 per cent favour physically searching for agents with High Street branches near their investment properties, while 27 per cent favour internet searches for agents who can manage – whether in the area or operating online.

The findings come from a survey of 20,000 landlords by Rentround.

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It also shows that 44 per cent of landlords chose an agent primarily on the basis of fees. 

Other in-demand services which landlords expected from agents included proven ability to find tenants to fill voids, and to give landlords a “headache free” experience.

Some 39 per cent favour a tenant-find only service from an agent, while 30 per cent asked for a guaranteed rent scheme. 

Just over half – 53 per cent – said they were uncertain as to their long-term investment in buy to let. The reasons included fear of price falls post Covid-19, worries about tax hikes, and concern over rent defaults after furlough ends.

Raj Dosanjh, founder of Rentround, says:: “Letting agents with a high street presence will be pleased with the amount of landlords choosing the high street as the go to place for picking an agent. 

“It will be interesting to see how that fluctuates in the coming years with the high street being challenged and more agents adopting online/hybrid approaches.

“Guaranteed rent continues in popularity. The uncertainty brought about by eviction bans, the future ending of furlough and changes in tenant behaviour is pushing landlords for safer approaches when their rental income is concerned.”

This post has originally been featured in Letting Agent Today.