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A recent survey conducted by London-based polling company, Populus, on behalf of tenancy software company OnBoard Pro painted a very bleak picture of the rental property market.

The survey was carried out both online and over the telephone with data collected from 1,000 Private Rental Sector (PRS) tenants chosen randomly by geographical location and demographic profile.

Tenants were asked five questions, structured specifically to give an independent analysis of the property market.

The first question looked at fees charged by agents and landlords. In response 45 per cent of tenants thought the application charges were high. This was followed up with a second question which asked respondents if they felt they received good value for money from the fees they paid. To this, six out of 10 people surveyed felt the industry represented poor value for money.

OnBoard Pro CEO Stephen Purvis said: "These results show that not only do tenants feel they are paying a lot for the services but that they're not getting good value. These results are inescapable evidence of the lack of confidence in the industry perceived by tenants and that's something that agents and landlords need to address."

The third question was an agree or disagree statement about tenancy applications being reliant on slow and outdated technology. To this 52 per cent agreed.

Stephen added: "Speed and poor processes could offer an insight into the difference between cost and value perceptions. It is clear tenants feel that the time and efficiency of the application and administrative processes are not adding value or positivity to their overall customer experience.

"Our OnBoard Pro technology has been specifically developed to address these issues, providing a faster, more efficient and cost effective solution for agents, landlords and tenants alike.

"All required checks can be carried out in one simple process, meaning a decision on the suitability of the tenant can be made there and then. We expect up to 18 hours of time can be saved by using our technology."

Question four asked tenants if they would be interested in being able to pre-complete applications before they met an agent, which would save them time. The majority answered positively.

The final question asked tenants if they thought a more innovative technical solution would advance the UK letting industry more than increased Government regulations. Of those questioned, 61 per cent agreed.

"This question gives incredibly strong confirmation that further Government regulation is not the answer. Rather, as has happened in other industries such as transport, retailer and motoring, technology is seen as the best solution.

"Agents who are keen to maximise the benefits of the forecast rise in rental market share need to ensure their application and administration processes are as slick and efficient as possible, using technology as a catalyst for profitability and success."

OnBoard Pro Ltd offers a complete and affordable solution for the rental property market by providing letting agents with the tools to comprehensively check the suitability of tenants, record detailed photographic inventories, submit gas and electricity meter readings, record starting dates for local council tax and produce signed contracts.

This is all done from within the same application and all on the same day, and in most cases under an hour.

To find out more about OnBoard Pro visit www.onboardpro.co.uk or email info@onboardpro.co.uk.

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