Letting agents consider the impending fees ban to be their most significant challenge in the coming months.
Fixflo has published the 2017 Fixflo Report, which rounds up the answers provided by nearly 400 lettings professionals managing almost 90,000 rental properties for the company’s annual Rental Repairs Survey.
The finding is in the new 2017 Fixflo Report, based on the responses of 391 lettings professionals managing almost 90,000 properties between them. The survey was carried out between July 24 and September 1.
Nearly 42% of respondents said the lettings fee ban was their biggest challenge. This was followed by lack of new landlord instructions, and online competitors.
The report also shows a divergence in the perceived threat of online competitors between larger and smaller companies. Agents with ten or more branches were nearly six times more worried than single branch operators about online competitors.
Rajeev Nayyar, managing director of Fixflo, said: “Our fourth report provides a clear picture of the state of the lettings industry throughout the UK, and ensures that agencies have a good idea of the ways in which they should be moving forward to improve their services throughout the coming year.
“Thank you to all the respondents for taking the time to answer the survey questions – we couldn’t have done it without you!”
David Cox, chief executive of Propertymark, said: “Letting agents are under increasing pressure from the swirl of changing legislation.
“This report provides them with an opportunity to benchmark their processes and to understand how their peers are navigating these challenging times.”