A lettings agency is launching a service that allows landlords to list their properties on Rightmove, Zoopla and OnTheMarket for just £1 a home.
Portico says the Coronavirus crisis has led to at least some silver linings, including “a time for tech to thrive” allowing it to offer a budget service for private landlords.
It says that private landlords located outside of London can advertise on the three portals without enlisting a traditional agent.
The service costs £1 for seven days “which is often enough time to find the perfect tenant” claims the agency.
If landlords need more time, another 14 days can be purchased for £19 and this process can be repeated as needed.
Portico claims it connects tenant enquiries with private landlords via its Portico Direct platform, with landlords having to conduct the viewings themselves, virtually or in person.
Portico Direct is also offering a range of other services at additional fees, including online tenant checks and referencing, tenancy agreements, deposit registration, rent guarantee insurance and rent collection.
“Lockdown job losses and relocations mean there is still high demand in the private rental sector. But despite this, some landlords are still feeling the effect of tougher regulations and taxes. We also know that, for a large proportion of landlords, the costs of managing their property portfolio has grown due to these changes” explains Portico chief executive Robert Nichols.
“We hope that Portico Direct will be a solution for private landlords who want to rent out their property without using a traditional high street agent and keep costs down; ultimately, our new offering means private landlords are able to find the right tenants quickly and cost-effectively and, as long as they don’t mind doing some of the legwork, enjoy a better return on investment as a result.”