2nd
Jul 2017
Landlords across the UK are feeling downbeat about the state of the rental market and believe that it is 'unfit for purpose' and is far from encouraging further expansion. Deposit Protection Service (DPS) and the Tenancy Deposit Scheme (TDS).
An online letting agency carried out its recent research and claims that 37% of UK landlords are disheartened by the current trend of the marketplace. The survey also found that as many as 23% of landlords are losing many thousands of pounds as their letting agents are having difficulty finding tenants.
Surprisingly 34% of the landlords are seriously considering opting to use online sites rather than having to pay agent's fees and to hopefully reduce void periods.
23% of landlords said that they experienced relatively long delays in new tenants being found by their agents. In their previous research the online letting agency said that apparently 40% of UK tenants found the private rented sector ‘ruthless and unethical.’
Fareed Nabir, founder and CEO of the online letting agency, said: "Today’s research presents a number of concerning insights into the difficulties faced by the Britain’s vital landlord community. It is obvious that landlords up and down the country feel let down by the current property letting system and it is concerning to see that high procedural costs are causing landlords to take otherwise unnecessary risks. Clearly a faster, more affordable and transparent system is required to support the market of 2017 for both landlords and upfront deposit from the tenant prior to the tenancy starting tenants."
Hayley Cowburn Brand and Marketing Manager of PIMS, said: "This story is interesting as it is definitely skewed towards online lettings agents for the obvious reason. Within our social media feedback and comments received back from our members, there has been very little mention, if any, of feeling let down by their agents. Please feel free to comment."
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