Thrifty landlords looking to let their property could be quids-in by using a new online platform that bypasses letting agents.
For just £1, they can advertise for seven days on Portico Direct, a budget lettings service from estate agent Portico, which connects tenant enquiries with private landlords.
Landlords upload their photos then, once they get applicant details, can conduct viewings themselves, either virtually or in person.
Portico’s CEO Robert Nichols says with landlords feeling the effect of tougher regulations and taxes, this will provide a solution for those wanting to rent out their property without using a traditional high street agent while keeping costs down.
He says: “Ultimately, our new offering means private landlords are able to find the right tenants quickly and cost-effectively and, as long as they don’t mind doing some of the legwork, enjoy a better return on investment as a result.”
With Portico Direct, private landlords based outside London can advertise on Rightmove, Zoopla and OnTheMarket for £1 for the first seven days, which Nichols says is often enough time to find the perfect tenant.
If landlords need longer, they can buy another 14 days for £19 – and repeat as needed.
Portico Direct also offers other online services for landlords, including tenant credit checks, tenancy agreements which can be signed digitally, deposit registration, rent guarantee insurance and rent collection.
The company says not sticking to the rules when renting out a property can lead to both landlord-tenant disputes and heavy fines.
It’s designed the online dashboard to help landlords make sure they issue the right documentation alongside the tenancy agreement and stay compliant with changing legislation.