Multiple let agents

Landlord Discussion
1

Hello,

I have been advertising here for a month now.

I have had 5 enquiries to date, the problem is they have all been multiple let agents or multiple let foreign people.

I have all the filters in place and clearly state no multiple let applications to try to stop these people from contacting me.

This is clearly not working, my last tenants a family were in property for nearly 5 years.
The market now seems to be overrun by these people who take over your property.

Are other Landlords having similar experiences?
I have noted that estate agents are dropping out of the letting market because of the changes in the market.

I was hoping that using Openrent may give me control over vetting and get me new tenants which estate agents were’nt.

The letting market seems to be overrun by sub letters, where have the honest renters gone???

The multiple sub letters have a home on Openrent to ply their trade.

Open rent ironically is not exactly a open and transparently safe place for Landlords or Tenants to transact on a level playing field.

2

you do have control, by the questions you ask and NOT giving you phone number straight off

3

I do all of this, but still only get sub letters, is the letting market dead in certain areas?

4

You just have to keep going. Its always hard to judge who is going to come along. I dont have such a large turnover so i cant judge else where

5

Another rejection of a multiple letting agent, pretending to be a private person looking to rent.
This website needs to demand the proof of I/D & banking details of proposed tenants
before putting them forward to landlords.

Landlords have to prove I/D & ownership of property which is correct so why not tenants???

1 Like
6

Hey Winston, where are you based?

Just my 2 cents:

5 inquiries in a month doesn’t sound like a lot. The market is very slow in many areas and prices are going down so you might have to look at that as a factor too.

Having said that, there are plenty of legitimate rent-to-rent businesses around, so banning them upfront isn’t necessarily an option for OpenRent I’d guess.

Also, in order to make an inquiry anyone needs to create an Openrent account, which already can create friction. Asking for ID and Bank detail at that stage would probably create too much friction in the user journey and nobody would sign up. Not even legitimate users.
Perhaps at a holding deposit stage, but that usually leads to referencing so it happens anyway.

Best of luck!