Caution advised when selecting a letting agent
Fran Mulhall, Regional Operations Manager at North East property rental specialists GFW Letting, discusses the rise of online letting agents and why the region’s landlords should use them with caution.
“It’s fair to say the private rented sector is booming. In fact, since 2002, it has almost doubled, from 10% to 19% by the end of last year. As the letting market has evolved, the traditional letting agent has increasingly faced new challenges as they adapt to the ever-changing UK rental landscape.
One such challenge regulated high street agents face is that posed by the rise of online, often unregulated, letting agents in an already crowded and competitive market. A few years ago, online agents were pretty uncommon but now, as we approach 2017, they’re gaining momentum – and fast.