A new national lettings-only portal is planning to launch this October with a pledge to revolutionise the rental sector.
Its aim is to better the lettings elements of existing portals, which overwhelmingly major in sales with rentals sometimes appearing as an afterthought.
Charges to agents will be £300 per month per branch.
The portal - called Lettings4u - has been set up by two childhood friends now working in Telford.
Tenant users will have access to the portal’s iOS and Android app free of charge and will be able to search using bespoke lettings-specific criteria such as deposit amount.
They will be able to earn pre-approved status through the portal - in theory easing the burden for agents of obtaining credit checks and tenant referencing.
A statement to Letting Agent Today from the portal says: “We offer agents a simple gimmick free pricing structure and the first 3,000 agents to sign up with us will get their first three months subscription absolutely free.”
Paying agents will get access to pre-authorised tenants who have been credit, affordability and reference checked and who are ready to move.
They will also have access to a built-in CRM system, increased data capture, five premium listings and one featured property.
Agents will additionally get unlimited listings, unlimited areas with a manual property upload tool, portal software integration, branded listings and an agent profile.
More details are available for agents from the Lettings4u site here and the company says it’s happy to arrange demos for interested agents.
“Our belief is that everyone should have a good home and because of this belief we are also making a donation to help house a homeless person for one night for every agent that signs up to Lettings 4u through a charity partner” says the portal.
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Is it April 1st again?
Please tell me that the charity partner isn’t Shelter!
Overtures of 'agent bashing' again; £300pcm/branch!
We pay less than that so will not be placing our available stock there.
If a tenant is genuinely searching (remembering there is an ongoing stock shortage), surely a small search subscription would be acceptable to them also?
I give them six months.
The portal space has been bombarded with new challengers in the last 3 years almost all of whom have failed to dent the big 3. As much as us agents want x, y & z its the consumer that decides and trhwe fact is they only want to go to 1-2 portals to find their property.
Launching a portal without at least 50% market stock is largely pointless- tenants will leave and not return if there isn't a good portfolio there. £300 a month for a startup portal is a big ask- akin to Boomin's charges but after a year of a free trial.
To work there are only two key questions: What are they delivering for Tenants that the other portals done (what problem are they solving) and what is their multi-million pound marketing strategy to challenge the big 3.
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