Landlords should consider using letting agents to manage new regulatory challenges, according to Sean Newman (pictured), founder of Experts Group.
He pointed out that with Labour’s Renters’ Rights Bill increasing compliance requirements and potential fines, the traditional approach where over 80% of landlords self-manage their properties is becoming risky.
Newman said: “Historically, more than 80% of landlords manage their properties themselves, but with new licensing regulations and the multiplicity of compliance standards set out in this new legislation, they run the risk of hefty fines if they are caught out by the new regulations.
“However, a high percentage of these landlords will be moving the management of their property to a professional agent because of the new legislation, compliance concerns and the risk of hefty fines if they make a mistake.
“This is why I believe there has never been a better time for agents to start their own lettings business with The Letting Experts.”
The Renters’ Rights Bill includes the abolition of Section 21, the end of assured shorthold tenancies in favour of periodic tenancies, the introduction of a Decent Homes Standard, and new rules governing rent increases.
But Newman insists that the future for Private Rented Sector (PRS) landlords is far from bleak.
Newman said: “The lettings market is still buoyant – Zoopla forecasts rents are set to rise by around 4% this year.”
He believes that most landlords will adapt and continue focusing on the private rented sector by hiring personal letting experts to help navigate the regulatory landscape.
Susan Liles, managing director of The Letting Experts, said: “We offer the only self-employed model specifically for letting agents who keep 70% of the fees they generate.
“We provide full training, marketing material, access to the CRM system, business generation tools, and all the support a letting agent needs to be successful.
“Our unique ‘Success Blueprint’, a detailed roadmap, provides all the systems, processes, and a proven strategy to build your lettings business.
Liles added: “The Renters Rights Bill has now progressed to the House of Lords and will most probably become law by late Spring or early Summer.
“There has never been a better time for our experts to build those professional relationships with landlords so they can face this new changing landscape together and build on each other’s strengths.
She said: “Our model gives our experts the time and the freedom to do just that.
“Anyone interested in starting their own business or thinking about becoming a letting expert should contact me or take our short quiz to find out more about their suitability for this business opportunity.”
Newman said: “My role is to provide the opportunities and the platform for people to become entrepreneurs and start their own businesses.
“More and more people are fed up with working 9-5, being stuck in traffic or stuck in an office or being micromanaged by someone and having to manage others.
“People want to do more of what they love doing rather than meetings, reports, and other ‘stuff’.
He added: “Oh, and the other annoying thing, is when they work loads of extra hours, yet still have to ask permission for half a day off to see their kid’s school play –
“More and more people want to be their own boss, earn more money, and work flexible hours – and we are here to help them do that.
“Being part of the Experts Group means clients can be referred to other partner companies such as The Property Experts, The Mortgage Experts, and The Auction Experts.”
