Browsing through our endless emails from Google alerts we came across an article from Simple Landlords Insurance which caught our eye – “An estate agent is paying tenants first year’s rent” and it got us thinking…. Is this a revolutionary way for landlords to let their property or is it a recipe for disaster?
It looks like it could be a win – win situation for Landlords as they get their 12 months rent upfront and their property back in its original condition at the end of the tenancy, but could this idea be open to abuse?
The “cynic” inside us says yes.. it is a strong possibility that “rogue tenants” could abuse this system which could ultimately leave the estate agency out of pocket. Granted their are rent protection schemes in place that they could pay for, but they only work if the tenants are employed and guarantors could be also used if the tenant is unemployed / on state benefits.
Estate Agencies and Letting Agencies in the UK whether online based or high street based, need to keep ahead of the competition and what a competitive market it really is. We applaud agents that come up with great incentives to entice us landlords to use their services, but the business side of our head as opposed to the landlord side, thinks that letting agents should be a little more careful about the offers they use to entice landlords in, because it may mean they have a short lived life in the land of the letting agency. We would rather us landlords have a great service from a great letting agents than see our letting agents go bust after a year and then us have to search for another one to replace them.