London property data firm Lonres has made a bold move into the transactional lettings market after it was announced today that it has formed a strategic alliance with lettings services firm Let Alliance.
Lonres says the deal is a direct response to the looming tenant fees ban, the legislation for which recently began its passage through parliament, but is also part of an ongoing plan for Lonres to help its subscribers find “practical solutions to help them adapt effectively to policy and market changes”.
To be called Lonres Let Alliance, the partnership will only be available to Lonres subscribers and will offer an end-to-end rental service for letting agents, landlords and tenants.
This includes tenant referencing, deposits, a rent guarantee scheme and a host of insurance packages underwritten by UK General Insurance Group.
Tenant fees ban
Lonres says its agent clients will also be able to earn referral fees from the Let Alliance partnership if they introduce its products to tenants or landlords.
“This alliance came about after we realised that the government wanted to see the industry come up with new ideas,” says Anthony Payne, MD of Lonres (pictured).
“We think this partnership offers both tenants and agents what they want because renters will continue to be offered the services they need while agents have the opportunity to earn income and offer a one-stop shop for letting services.
“There are a lot of individual companies offering referencing, deposit and other types of lettings services, but Let Alliance is ideal because it’s all under one roof.
“Before signing the deal we talked to several high profile letting agents in London who use Let Alliance who said their service was very good.”
Read more about Lonres.