No Agent
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Proptech
Online service launches ‘goodbye to letting agents’ poster campaign
An online service for landlords has launched a London Underground advertising campaign that urges landlords to say 'goodbye to lettings agents'.
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Latest property news
How can it be so cheap? Online agent launches £35 HMO service
Online lettings firm No Agent is claiming to be the first in the industry to offer landlords a fixed-fee management service for HMOs, charging £35 per room a month in England and £55 in London. The package includes a tenant finding service but not photos, which landlords will have to pay extra for. No Agent’s launch, which it says would work out at a 4.5% management fee excluding VAT, is designed to undercut traditional agents which it claims charge between 10-15% for a similar service. Landlords are charged a £100 set-up fee for its HMO package to pay for licensing and property condition checks. Photos are charged at £250 for the first room and £35 for each subsequent one, a cost which includes 30 days of accompanied viewings. The online agency, which has so far been funded partly through two crowdfunding campaigns and private VC investment, says its new HMO service is designed to attract landlords caught between the recent buy-to-let tax increases and the looming tenant fees ban. HMO service Its £35 service for HMO landlords includes quarterly inspections, rent collection, contract renewals and property management. No Agent also reports tenants’ rent to Experian if they agree to it…
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Hybrid letting agency claims tenant creditworthiness ‘first’ after deal with Experian
Hybrid lettings agency No Agent is to begin reporting its tenant’s payment histories to partner credit reference agency Experian, and is claiming to be the first agent with national reach to do so. The London-based online hybrid agency says it wants to help the tenants who live in the properties it manages to improve their chances of getting on the property ladder and create a level playing credit score playing field for both tenants and home owners. No Agent will be reporting its tenants ‘one-time’ rent payment though Experian’s Rental Exchange initiative, which enables larger agents, landlords and social housing providers to record tenants’ payments in large volumes. “Rent is usually the largest regular payment in a household and should be the main indicator of creditworthiness,” says No Agent CEO Calum Brannan (pictured, left). “Yet tenants paying rent regularly don’t see this reflected on their credit scores in the same way homeowners do with their mortgage payments. “It’s making it even harder for them to get on the ladder and it’s simply not fair. So we are partnering with Experian to change things for Generation Rent.” Experian’s Rental Exchange system doesn’t require the permission of landlords to pass on their…
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