Online agent prepares for fees ban with PropTech
An online letting agent has dropped tenants’ fees and cut fees to landlords, ahead of the fees ban, by using technology to automate tasks.
MakeUrMove now charges landlords a £12 monthly subscription, including advertising on Rightmove and Zoopla, tenant referencing, rent collection, legal eviction services, property licence checking, and documents and renewals.
At £144 per year, it works out to less than the average landlord spend of £200 a year until now.
The new subscription will also include optional bolt-ons at extra charge, including guaranteed rent for up to six months, and gas safety certificates.
Alexandra Morris, managing director at MakeUrMove, said the firm has acted on the assumption there will be longer tenancies in future, and that landlords will need ongoing support rather than one-off services.
“The Tenant Fees Bill is going to affect the whole property industry,” she said. “The most innovative agents will look to technology to reduce costs.
“We’re at the forefront of this as the first agent to come out and support the tenant fees ban.”
The firm advises agents to build strong property portfolios and provide an excellent customer service, by reviewing their business processes and seeing what works and what doesn’t.
It also recommends improving efficiencies in the business and making savings, by deciding which landlords are worth keeping and which are unprofitable.
And it suggests that as more bad companies go out of business, more opportunities for the good agents will be available.