New research shows that thousands of landlords are using what are described as “risky online sites” in their bid to avoid letting agency fees.
A survey of 2,000 landlords by LetBritain - itself an online agency - claims 37 per cent of landlords do not feel the UK rental market is fit for purpose, with 23 per cent claiming to lose “thousands in rental income” because of voids when existing letting agencies cannot find tenants.
As a result, the agency claims 34 per cent of respondents said they would “turn to risky online sites just to avoid the fees and delays associated with using a letting agent.”
The agency also claims that trust in letting agents is “significantly strained by misinformation and unscrupulous practices.”
“It is obvious that landlords up and down the country feel let down by the current property letting system and it is concerning to see that high procedural costs are causing landlords to take otherwise unnecessary risks” says an agency spokesman.