Archive | Letting Agents

WARNING : A Crimewave is about to happen

WARNING : A Crimewave is about to happen

Let’s consider the example of a small letting agent turning over £300,000 per annum mostly from let-only properties.  At the moment, they might be making a profit of 20% of turnover which is £60,000.  This provides a comfortable living for the proprietor.  But agents like this currently earn up to one third of their income […]

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Will your letting business survive?

Will your letting business survive?

It is becoming increasingly clear to me that a lot of letting businesses are not going to survive the tenant fee ban that is due to come into force next spring.  The businesses that seem destined to fail are the let-only businesses, many of which were set up by residential sales agents in response to […]

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Why tenant fees are not the only problem

Why tenant fees are not the only problem

Letting agents are understandably concerned about the impact of the tenant fee ban but unfortunately this is not the only threat to your future income.  A far bigger threat is the financial impact of tenants staying in the same property for much longer periods.  This is not a matter of opinion, it is a matter […]

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Students are scum, aren't they?

Students are scum, aren’t they?

Every year, over 200,000 students rent a house for the first time.  For most, it is their first experience of dealing with a letting agent and all too often their experience is a bad one.  I speak from personal experience as both of my daughters have recently graduated from university. One of my daughters said […]

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Is this the end for Tenant-find only?

Is this the end for Tenant-find only?

One of my big clients has just dis-instructed themselves from 131 tenant-find only properties that used to bring in fee income of just over £50,000 per annum.  They have been planning to do this for three years and they have finally done it.  Are they mad?  Well, let me try to explain their logic. Their […]

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Who Will Defend Us?

Who Will Defend Us?

I have written about this subject before but it’s becoming ever more important so I make no apologies for writing about it again.  Hardly a week goes by now without a negative article in the press about estate agents and landlords.  Last weekend, a leading firm had their office besieged by a large crowd of […]

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What next for the online agents?

What next for the online agents?

The online agents have made considerable progress in the last year but I do not believe that this will continue.  Why do I say this?  Because I suspect that they are not selling enough houses.  A really good estate agent will sell 90% of the houses that they take on and will get 90% of […]

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Is the tenant fee ban the thin end of the wedge?

Is the tenant fee ban the thin end of the wedge?

I am beginning to wonder what I’ve done to offend this government.  Firstly, David Cameron misjudged the mood of the electorate and triggered Brexit.  As a direct consequence, fifteen of the estate agency business sales that I had arranged fell through.  I spent four months putting most of these sales back together again only to […]

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Adobe Spark_homlessness

How Councils are contributing to homelessness

My local pub has an extraordinary notice on the door.  It says “No children in either the pub or the garden, no exceptions.  Dogs welcome!”  Most discrimination is illegal now but child hating, it seems, is still allowed.  So is discrimination against tenants on housing benefit.  Almost every local newspaper, especially those in the poorer […]

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