A new online-only letting agent is hoping to break the stranglehold of traditional agents on the property market, by offering landlords the opportunity to advertise and let their properties for free.
ClickTenant.com is the brainchild of the team behind the hugely successful StudentTenant.com. They have unparalleled expertise in offering services to landlords and tenants across the UK, for a fraction of the normal price.
Its nationwide launch could not have come at a better time for private landlords, who face a spectre of increased costs and lower profits in the immediate future.
With high street letting agencies facing a ban on charging fees to tenants from next year, their costs are likely to be passed onto landlords. The amount of tax relief that landlords can claim on their finance costs is also set to plummet dramatically over the next three years. Thanks to George Osborne’s attempts to cool the buy-to-let sector, the need to cut costs could not be greater.
ClickTenant is offering all landlords the chance to advertise and let every property they own for free for the first let as part of its groundbreaking launch package. In return, and with the hope of developing long-term relationships and promoting organic growth, landlords are encouraged to share an advert about the business on social media.
Properties will not only be advertised on ClickTenant, but also on all other major property portals.
Full management services are also available, but at a fraction of the cost of traditional high street letting agents.
The Co-Founder of the service, Simon Vaughan, says: “Our experienced team have been successfully running a national online letting agency in the student sector for a number of years already.
“Through StudentTenant.com, we have learnt that it is all about working very closely with our customers. The ethos of ClickTenant.com will be to work in partnership with landlords.”
He continues: “We are advertising their properties for free and, in return, we ask that they advertise our business. This could be either through a post on social media, or by word of mouth. We know the importance of building a strong relationship from the very beginning.
“We see huge potential for growth in what we are offering. What landlord wouldn’t want to advertise their property on all of the major portals for free and have the tenant credit checked? We also offer all of the full letting agent services, at a price that we haven’t found anyone else to be matching.”
A mere 6% of property sales and lettings are currently completed online. The team at ClickTenant believes that it can massively increase that figure. What sets it apart from other agencies is its more tenant-focused approach, which concentrates on the unique use of dominant innovative search tools, allowing clients to find their property on the homepage.
In contrast, most other platforms rely solely on other popular portals to generate leads. Currently, most online lettings websites are focused purely on landlord services, with tenants having to rely on other sites to actually find and reserve properties.
While high street agents may dominate the market, they do not have the capacity or technological capability to compete with the fast developing online industry, ClickTenant insists.
The site’s Co-Founder, Danielle Cullen, explains: “Many agents will have no choice but to transfer lost tenant fees over to landlords. As an online business, we don’t have the huge overheads associated with running a high street letting agency.
“We have automated a lot of the internal processes, making the whole business much more efficient and streamlined. Viewings and bookings can be managed online, credit checks can be carried out in a few clicks, and an array of additional services can be selected through instant quoting systems through partner integration.”
She adds: “Therefore, we have the ability to offer cheaper letting solutions, underpinned by enhanced technology, at a time where landlords will be looking to cut costs.”