UK’s first fully digital letting service launched – landlords to save up to £1,600 / year
- No Agent slashes fees to £29 / month
- landlords to save up to £1,600 in first year
- no extra fees & no contracts – landlords can cancel at any time
- property tech veteran Gillian Kent joins as chair
The letting sector is set for a bout of disruption with the launch of the country’s first fully digital management agency – with landlords set to enjoy savings of up to £1,600 / year.
By using technology to automate the marketing, administration and maintenance of properties – as well as supplying round the clock support of experienced property professionals – NoAgent.co.uk has created a new and superior model for landlords.
How No Agent works:
(1) Free marketing:
No Agent provides free advertising on the UK’s major property portals (eg. Rightmove, Zoopla), granting access to a much wider audience without using local letting agencies.
(2) Absolute transparency – no extra fees:
A simple fee structure means landlords are charged £39 / month for London properties – and £29 / month for those outside the capital. Owners and tenants face no additional fees.
Landlords aren’t tied into long-term contracts and can cancel at any time.
(3) Elimination of paperwork:
Landlords manage their property via a real-time dashboard. All administration is handled online or via No Agent’s 24-hour call centre including viewings, reference & credit checks, contracts, the move in, compliance reminders, management of repairs and deposit / rent collection.
Tenants enjoy a straightforward online system to set up viewings and manage application documents, while also avoiding additional agency fees.
(4) Pain free payments:
No Agent’s commitment to automation has seen it introduce Direct Debit payments, allowing landlords to switch from using Standing Orders.
(5) Industry leading expertise and help:
Landlords have instant access to property managers (each with an average of five years experience) and a legal helpline.
No Agent also announced veteran property technologist Gillian Kent has joined as chairman. Her previous roles include CEO of Propertyfinder.com – which was sold to Zoopla in 2009 and integrated into its platform – and Managing Director of MSN UK.
“Despite the impact of the digital revolution, property services haven’t fundamentally changed,” said Gillian Kent. “No Agent is the only service that completely automates a range of essential tasks such as marketing, bookings, reference checks, maintenance and compliance.”
“Strategically what we’re doing is empowering landlords to fully manage all aspects of the letting of their property – and save money as a direct result. Agencies currently earn £115m a year in fees for doing these sorts of tasks.”
The use of technology throughout the process allows No Agent to offer an industry-leading prices that start at £29 / month – as well as access to round-the-clock support. The process saves money, time and increases transparency.
“The average monthly rent outside of London is now £779,” said Gillian Kent. “So when you add on standard agency charges like a month’s rent together with monthly management fees of up to 15%, the first-year cost for a landlord is close to £2,000.”
“By contrast, using No Agent would save them just shy of £1,600.”
“Tenants will also be better off as we don’t charge for services like drawing up tenancy agreements and credit checks. However letting agencies now typically charge tenants £337 in fees – many in London are forced to pay over £400.”