What Is Better Value For Money? High Street vs Online Letting Agents

For most landlords, getting great value for money from your letting agent is extremely important. With so many different options out there – from big name high street companies, to independent online agents – knowing exactly what is the best fit is a tricky task.

High street letting agents often possess the names we all know due to their prominent position on main thoroughfares. As a landlord though, that nice office comes at a cost which trickles back to you.

You Pay For Overheads
The facility itself produces overheads, as does the staff wage bill it takes to run it. In real terms, what that means is that industry standard management fees in and around Edinburgh and the Lothians is 12 percent. We, with our lower overheads, are able to provide exceptional service for just 9 percent per month.

The Shop Window
But what about the shop window for advertising properties? Isn’t that going to help your property let more quickly?

Well, no. Studies show that approximately 98 percent of tenants now find their property using an online hub, such as Rightmove, CityLets or Zoopla.

Again, you find yourself paying for the shop front – for our Fidra Tenant Complete service we charge £225. Many of our high street competitors charge over £450 for a similar service.

What purpose does a shop front serve?

The Personal Touch
A high street office location does serve as a marketing tool, but not for tenants. A letting agent shop front is there primarily to market to landlords. It also provides a physical address and a personal touch that you do not get online. That makes it easier for meetings or just to drop in if you have a question or want to talk.

Improving Service Without Increasing Price

That is why we have gone for a hybrid route. Not only are we committed to giving exceptional management service and great value for money we also want to provide our landlords and tenants alike with a place to drop in and see us.

In order to do this, we have opened an office in Gifford, East Lothian. This provides us with a comfortable meeting and working space at a fraction of the cost, allowing us to further improve our service without increasing our prices.

Should you need to reach us at the office, you can call us on 01620 811 280 or stop in and see us in our new office at 6 High Street, Gifford, EH41 4QU.