Wishing you a Happy New Year

Thank you for being part of the LegalforLandlords journey in 2021. It was a mixed year in the industry for lettings and a very hot one for sales.

Throughout 2021 we supported you with tenant referencing, general insurances and professional support services. We kept you up to speed with the ever-changing industry landscape and the significant amounts of consolidation taking place all around us. I’m proud of our team for doing so.

The sector changed in 2021. Around 55% of landlords are now self-managing their buy-to-let properties with 45% continuing to work with a managing agent. There of course are many reasons for this, but I believe the data illustrates the huge potential market available to you in 2022.

If we start to consider the opportunities and perhaps look at areas where agents could specialise, it’s easy to see challenges that could be capitalised upon and where relatively straightforward changes could have a substantial impact. For example, how can we work with more Landlords? Can we charge more for our Managed Service? What are the options for generating further revenue from our Landlord database or from Let Only clients? What benchmarks should we have in place to ensure our running costs are covered?

PropTech is fantastic. If you’ll forgive the cliché, it is a game-changer, but unfortunately, the term PropTech is too easily used. Every supplier is calling themselves a PropTech business, but few platforms add value through operational efficiency or a digitised journey. Our acquisition of Propoly in 2021, which had serious investment from several large PLC’s, shows our commitment to revolutionising the lettings process and providing opportunities for agents to grow.

We want to add more value to you in 2022, but to do so, we need your feedback. We need your continued support and referrals to like-minded agents. Please help us because we’re working to help you. We’ll continue to provide a great service at competitive rates and explore and deliver on every opportunity to maximise the benefits of our partnership.

I wish you, your families and colleagues a relaxing festive break.

All the best for 2022.

 

 

 

Sim Sekhon,
Managing Director