…or: why you should be wary of cheap letting agents!
On the 29th of November the phenomenon that is Black Friday will sweep the USA and, more increasingly than ever, the UK.
Online giant Amazon has already started a countdown in the run up to the day which sees prices slashed, shoppers go bonkers and sales rocket.
It’s not just Amazon who believe that going cheap is a good way of gaining business – we’ve seen some lettings agencies do it too. Although not themed around Black Friday, we’ve come across several agencies whose fees are so low it leaves us thinking, “how can they charge that and still give a good level of service and expertise?”
The trouble is they can’t and a Black Friday approach to lettings and property management doesn’t work. Over the 11 years we’ve been managing rental properties in Bath we’ve seen agencies try this cheap and cheerful route but become unstuck.
It’s an unsustainable business model.
You get what you pay for
Landlords and tenants both suffer from ridiculous low fees, as something has to give. It could be the calibre of staff working in ‘pile-them-high-and-let-them-cheap’ outfits, or the level of property management, inventory or inspections that is provided.
The old adage you get what you pay for is particularly true in the world of property.
We have always been about charging a fair fee but delivering a superb, personal service and we like to think our track record and positive Google reviews prove that approach works for the landlords we serve.
Reside have been fantastic in letting out our property – very professional, friendly and pro-active. After the first meeting with Ben we knew that Reside was the Agency we wanted to work with. The company has many years of experience and knowledge of the Bath rental market and we like the fact that they specialise in lettings only. We were impressed with how quickly our house was let and would highly recommend them to other landlords.
Joey Snowdon, Landlord
Our management fee allows us to offer guaranteed rents to landlords, regular property inspection reports sent by email, professional photography and much more. Most crucially, it also allows us to hire the best staff who can offer our landlords sound, informed advice whenever needed.
We love a good bargain like everyone else, but some corners are not worth cutting.
Thanks for reading and if you have any other property related questions please don’t hesitate to get in touch with us – we’d love to help you.
Toby holds a Level 3 ARLA Propertymark qualification and runs the 'engine room' at Reside, making sure that properties are perfectly-presented and that they are let quickly at a good rent. When not working, Toby is happiest when enjoying a day's cricket.
