Deposit alternative specialists Flatfair has launched a ‘self-service’ portal for letting agents in response to the ongoing affordability problems faced by the Private Rented Sector.
Its ‘Self Sign-up’ portal has been designed specifically to provide a simple, streamlined, on-boarding experience that offers easy registration and instant access to training which, the company claims, enables agents to be up and running in under an hour.
Gary Wright, Chief Executive of flatfair, says that what quickly became clear after the recent Budget was that affordability was going to be an on-going issue in the PRS.
SUPPLY SHORTAGE
He adds: “There was nothing in the fiscal statement to improve the shortage of supply of rented homes.
“Even though landlords escaped the expected rise in CGT, they were hit by the increased Stamp Duty on Buy To Let properties.
“The net result of all the measures contained in the Budget, as far as I can see, is that landlords and tenants will carry on feeling the squeeze into 2025 and beyond.”
RISING RENTS
And he says: “Rising rents have meant that traditional deposits have gone up significantly for tenants and have had a major impact on the cost of moving.
“Tenants can save around £1200 by choosing No Deposit – money which can be better spent on furniture or removal costs or even, with Christmas coming up, gifts for family members – it’s an expensive time of year.”
STREAMLINED
He goes on to say: “Landlords, on the other hand, are looking for more security. There are fears over the Renters’ Rights Bill which is likely to become law in the Spring.
“These are times of change for the PRS and we want to encourage more landlords to benefit from the comfort of knowing they have double the protection against tenant damage or missed rental payments.
“We offer them market-leading protection – up to 10 weeks for damages and/or rent arrears and it doesn’t cost them a penny.
“That’s why we felt we had to make it as easy as possible for letting agents to sign-up with flatfair.
EVERY PENNY COUNTS
“We’re at a stage now where every penny counts for landlords and tenants alike. Agents deal with both sides and so it made sense to design a ‘self-service’ system that was quick and streamlined to suit their needs.”
Wright believes the flexibility of the Self Sign-Up portal will appeal to busy agents who are pressed for time.
He says: “There is an Automatic Progress Saving function so agents can make a start, pause and resume when it’s convenient and there’s absolutely no commitment – they can explore all the benefits at their own pace, try it out and see the product first hand.
