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Letting Agents Address Trading Standards by Passing Fees to Landlords

26th March 2024

With the recent directive from National Trading Standards in Estate & Letting Agency mandating letting agents to incorporate room dimensions as well as a range of different material information in property listings, there has been some worry from letting agents about the added workload, cost, and potential impact on their current practices and procedures.

Room dimensions have been provided by sales agents for quite some time and is therefore no change to them; however, for lettings, this is a big shift in the way they’re used to doing business.

How Are Letting Agents Addressing These Changes?

To cover the costs associated with the addition of room dimensions in listings, Kevin Hall from Martin & Co Ashford has implemented a £25 fee for landlords of new and re-let properties.

Kevin's compliance approach is both inventive and practical. Initially, he had concerns about the new regulations. Reflecting on his experience, he explained, “I used to manually measure around 30 properties per month, invest in floor plan software, and spend considerable time preparing each plan, however, this isn't justifiable in lettings, as landlords want a quick sale.”

Recognising the need for efficiency and adherence to regulations, Kevin turned to Made Snappy 360 for his floor plans. “They provided the easiest way to integrate room dimensions into my business model without causing any disruptions or complexities,” he explains. “What used to take me hours, from measuring properties to creating floor plans, now takes me less than 10 minutes,” he elaborates. “This ensures I can meet Trading Standards requirements while still guaranteeing a quick, risk-free sale for the landlord.”

Passing The Cost Onto Landlords

Kevin explained that he has “simply added £25 to each set up fee after issuing an email variation to my landlord terms of business explaining that National Trading Standards require all advertisements to include room dimensions and we are simply passing on the cost.” He also added that they “have not had one objection.”

What Are The Benefits Of Including This Extra Information?

According to National Trading Standards, including room dimensions will result in "more informed customers, fewer complaints, and ultimately greater trust and compliance in the industry and those who work in it."

Kevin believes that by incorporating floor plans into his services, he can ensure that "tenants have sufficient information to make a buying decision at the earliest stage." He explains that "they should not have to waste their time looking at properties that could be ruled out earlier."

Kevin went on to explain that by using Made Snappy for his floor plans, he can minimise "the risk of being subject to a claim for compensation" if he were to "get the measurements wrong," and the fact he can "pass the cost on is a no brainer."

Summary

National Trading Standards recommendations serve as guidelines to ensure transparency and fairness in property advertisements. Letting agents have the flexibility to implement these recommendations as they deem appropriate. It is crucial to provide potential tenants with comprehensive information while also facilitating quick property sales for landlords. Balancing these factors ensures a smooth and efficient letting process for all parties involved.

Kevin is one of many who use Made Snappy’s services for lettings and truly values the benefits it brings to his company regarding time, effort, and meeting compliance.

If you would like to get a quote for your lettings, please click the button below.

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Verity Collyer

Marketing Manager

Made Snappy 360 is an all-in-one listing solution for estate agents wanting to save time and list properties faster.

www.madesnappy.co.uk/

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