Lettings agent use hits two-year high amid rising rental responsibilities
Summary
Pegasus Insight research indicates that landlord use of lettings agents has risen to a two-year high, with two thirds now using an agent for some or all of the letting process. The increase is being driven mainly by demand for full property management, as landlords face growing regulatory complexity and higher time commitments in managing rental portfolios.
Why it matters
This is relevant to surveyors working in the private rented sector because it reflects increasing reliance on professional management as compliance demands rise. It also signals continued pressure on landlords and agents to maintain standards in letting, management and tenant service.
Key points
- Two thirds of landlords now use a lettings agent for some or all services.
- Full property management has increased to 25% of rental properties.
- Landlords self-managing properties spend far more time on average than those using full management.
- The article links rising agent use to a more complex regulatory environment and the Renters’ Rights Act.
- Larger portfolio landlords are not necessarily more likely to outsource management.
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