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Posts Tagged: UK Association Of Letting Agents

Landlords Reaction Should Letting Agents Increase Their Fees

A survey has revealed that a large percentage of landlords would continue to use the service of a letting agent even if the agent increased his or her fees due to a ban on tenant’s charges. This research was carried out by the UK Association of Letting Agents (UKALA). The research revealed that a mere 9% of landlords felt that they would depart company with their letting agent. 7% of landlords were uncertain if they would remain with their letting agent. Also, 9% of landlords felt that they would agree to pay additional fees. It is interesting that 13% of landlords would try to negotiate terms with the tenants. 22% of landlords would try to get a better package by shopping around. Interestingly, 40% of landlords felt that they would charge their tenants more in rent to compensate for the additional expense they would incur. Letting agents will no doubt have to decide what they will do i.e. leave the fee that they charge landlords unchanged or increase it. It will be interesting to see how landlords react to any rise in fees. Will it be comparable to the results of the research mentioned above? No doubt letting agents provide…

Drop In Profits Would Result In Many Landlords To Stop Using Letting Agents

There are so many factors that affect the profitability of a landlord that has either one or more investment properties that they are letting out. For instance, the property could remain vacant for quite some time or additional expense could be incurred to replace fixtures and/or fittings. The changes in the taxation of landlords that are being introduced in a few months could also have such an impact. So, what could a landlord do in order to mitigate a drop in profits? Well, a lot of landlords utilize the services provided by letting agents around the UK and, apparently, the UK Association of Letting Agents (UKALA) has undertaken some research that would indicate that a large percentage of landlords would feel it necessary to stop using letting agents to help them manage their property/properties that are let out to tenants. Apparently, 57% of landlords use a letting agent’s services. You may find it surprising that the research revealed that 47% of landlords in the UK would stop utilizing such a service no doubt in the hope that their profit levels would improve. Scotland, at 56%, was the region in the UK that had the highest percentage of landlords that would…

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