19% of Landlords Don't Use Agents

Using their Landlord Portfolio Analysis tool Propalt can reveal that 19% of portfolio landlords don’t use agents to rent out their property. Using the full addresses and comparing the properties in landlord’s portfolios versus those that have rental events over the last 5 years nearly 1-in 5 landlords have never used an agent.

Co-founder Daniel Morgan said “With many ways to advertise property to rent we can clearly see that the student and HMO market has other routes to market. There is a clear split between those who do use agents and those who don’t with the average 10 property landlord using two agents or more. Looking at the distance of the property from the address of the landlord we can also see that a landlord is three times more likely to use an agent if they are based outside the postal town where it is rented, and they are 14 times more likely to use an agent if they are based overseas.

Head of Data YuJie Gong added “Being able to pinpoint which landlords to target at the right time is crucial in this marketplace. Landlords have choice and so agents need to be able to uncover new revenue streams and talk to potential new clients at the right time. Of the 2 million rental properties we looked at over a 5-year period nearly half have no rental record on them, so they have been rented privately. The unseen addressable market is actual twice the size of what is currently rented through agents. Furthermore, over 60% of landlords who have 25 or more properties and use agents use three or more. Being able to see which properties you are not renting within a portfolio has not been possible before but represents a huge opportunity for agents.“

The new Landlord analysis tool lets agents search from postcode to UK wide and will show-
Number of properties in portfolio in total, how many fall in the search are
Number of properties currently for sale and which agent they are selling through.
Number of properties sold historically with agent.
Number of properties for rent with current agent.
Number of properties rented over last 5 years.
Name and address of landlord, linkedin link to profile, number of charges against portfolio, Number of beds and link to each property, portfolio value, rental value, potential rental value (those not using an agent) , number of properties under D EPC and much more

To find out how Propalt can help your estate agency business click here.