How to Choose the Right Letting Agent or Go Digital

When it comes to choosing the right letting agent or managing your property digitally, landlords end up at a management crossroads. The core dilemma of outsourcing management to an agency or to retain control using modern digital tools is a hard decision.

This decision hinges on the landlord’s key priorities: time investment, cost, control and compliance assurance. 

Therefore, this article will help you weigh up the investment and return for both the traditional letting agent model and the modern digital management platform to help you make an informed decision.  

The Traditional Letting Agent

Pro: Full Service & Delegation

Letting agents handle the heavy lifting through the marketing, viewings, tenant vetting, rent collection and legal notices.

This helps landlords maximise their time savings and minimises day to day hassle.

Pro: Local Expertise & Human Touch

Letting agents have a deep knowledge of local rental values, demographics and the ability to conduct physical viewings and inspections. 

Cons: High Cost

Outsourcing management to a letting agent results in high fees. This significantly impacts the investment yield.

Cons: Loss of Control & Transparency

Landlords rely entirely on the letting agent for updates and scheduling. This can result in repair information being isolated or delayed as the agent controls the repair work.

The Digital Management Platform

Pro: Cost Efficiency & Maximise Yield

Utilising a digital management platform, like Fiixit, has the benefit of low fixed, per property fees. This offers significant cost efficiencies for landlords who choose to self manage, while also helping agents streamline their own operations to keep costs manageable and competitive for their clients.

Pro: Maximum Control & Transparency

A platform like Fiixit empowers the user, whether it is a self managing landlord or a professional letting agent, they have maximum control. The user is in control of all key decisions, from vetting contractors to approving costs, all while the platform automates the workflow.

The dashboard oversight views multiple properties too, providing a clear, real time status of all tasks, allowing maximum control and transparency.

Pro: Compliance & Evidence Readiness

A digital management platform is purpose built to enforce best practices and track every step, which is crucial for laws such as Awaab’s Law. 

Fiixit features audit trails and timestamping for all communication and repairs which provides undeniable evidence of timely compliance.

Con: Time Investment

Digital management platforms require the user, whether a landlord or agent’s staff, to actively manage the platform and engage with tasks such as checking in on updates to assigning tradespeople. 

However, Fiixit is designed to simplify this engagement with easy scheduling and central communication. 

The Verdict: How To Decide

When to Choose an Agent

Landlords who are completely hands off, live abroad or manage properties as a minor part of a larger investment portfolio will benefit the most from a letting agent. They are willing to pay a premium for delegation too.

When to Go Digital

Landlords who are cost conscious, want full control over their assets, prioritise transparency and need a proven, automated system to ensure compliance, will benefit most from a digital management platform.

An Important Note for All Landlords

The line between ‘agent’ and ‘digital’ is blurring. Many forward thinking letting agents are now embracing platforms like Fiixit to leverage these digital benefits for their clients.

If you decide to hire an agent, it is worth checking what digital platform they use to manage your property, as leading agents are utilising Fiixit to offer landlords the best in control, compliance and transparency.

Your Next Steps with Fiixit

A digital management platform like Fiixit offers the best of both worlds, serving both self managing landlords and professional letting agents. It offers the structure and compliance of a professional system with the control and cost savings that all property professionals seek.

We offer a 3 month free trial as a no risk way for landlords and property managers to experience Fiixit’s benefits and test how easily they can master compliance and save on fees.

Are you ready to go digital? Choose Fiixit today and contact us for more information.