Business Boost - Landlord champion urges more use of lettings agents

Landlords’ champion Paul Shamplina says more landlords should use lettings agents, who he describes as their “allies” in the battle to operate the private rental sector. 

Shamplina - founder of Landlord Action, the chief commercial officer at industry supplier Hamilton Fraser, and star of on Channel 5's 'Nightmare Tenants, Slum Landlords' - says it seems likely that cost-cutting reasons lie behind the fact that the number of landlords self-managing is actually increasing rather than decreasing to 65% in 2023 compared to 56.3% in 2022 according to a recent survey.

“Letting agents can serve as the guiding hand that many landlords are hesitant to assume. While it may require some financial investment, isn't it a worthwhile expenditure when weighed against the consequence of non-compliance or throwing the towel in?”  Shamplina writes on our sister publication Landlord Today. 

He cites numerous figures to make his case. 

He argues that whether opting for a full management service or adopting a hybrid approach, as 19% of landlords do, engaging with letting agents represents a prudent investment. And he states that the overwhelming majority (67.5%) of landlords indicate that legislation is the biggest challenge they face - well up on 2022 when the figure was just 39%.

“I’ve seen it all. From DIY landlords struggling to keep up with the ever-evolving legal landscape, to horror stories of rogue letting agents leaving their clients high and dry, I've witnessed the full spectrum of property management nightmares, so I fully understand the trepidation. But in this cloud of uncertainty, reputable letting agents are poised to shine brighter than ever before” Shamplina tells readers.

And he insists that with impending changes in legislation, such as the ban on Section 21 and the introduction of periodic tenancies, the stakes have never been higher for landlords. 

You can see his full article here.