Online-only letting agency Upad has announced that it’s abandoned offering landlords fixed packages and has also signed a deal with deposit replacement platform Zero Deposit.
Upad says that although it has processed 75,000 rental transactions since it launched 11 years ago, it has decided to significantly change the way it charges customers “to reflect what landlords really want”.
It now offers a basic pay-upfront ‘find a tenant’ service for £149 including VAT but enables landlords to ‘pick and choose’ which services to bolt on.
“Half of all UK landlords have been in business for over five years and understand the regular and ongoing demands of letting a property,” says James Davis, its Chief Executive (left).
“In many cases, they have established tenancy agreements in place, inventories have been drawn up and amended on numerous occasions and an investment has been made in quality property images – they simply don’t require everything, every time they let a property – this allows them to pick and choose.”
This is in addition to Upad’s existing £449 ‘pay on success’ service that it launched earlier this year. It also a fully-managed service that costs £559 plus £72 a month, both including VAT.
The company has also launched a partnership with former Zoopla sales director Jon Notley’s Zero Deposit platform. This will enable landlords to list their properties on Upad as ‘not requiring a traditional deposit to be paid’, the first time a hybrid or online letting agent has offered such a product.
“It’s just another way we’re challenging the status quo, making our service transparent and ultimately handing power back to the landlord,” says Davis.