What does 2022 hold for rental agencies?



Legislative changes may still be pending, but trends are already beginning to emerge that are likely to impact the type of leasing agents will experience in 2022.

huge demand

As the UK returns to some sort of normality after most pandemic lockdown regulations were lifted, we are seeing an increase in the number of potential tenants – particularly in urban areas where the reversal of “ working from home” has seen people looking to rent a property closer to where they work. There has also been a 10% increase in house prices over the last year, which means that despite two-fifths of tenants wanting to buy out their landlord – the reality means that people are still in the rental market a lot longer before you can afford to buy.

Rising rents Rents are currently rising at the highest rate in 13 years. Of course, an agent’s obligations are to the interests of its owners; but it represents an opportunity to help them communicate to their tenants why their payments are increasing and to ensure that they receive excellent service with fast repairs, well-maintained properties and quick answers to their questions.

After all, happy tenants make for happy landlords – and happy landlords are great for your business.

Outsourcing

Some of the tasks your team undertakes during the day will really add value to your agency, helping you generate revenue and support your future growth. But answering routine phone calls, while essential, is not one of those duties.

Staff can be busy for much of their day booking inspections and triaging maintenance requests – only a small percentage of those calls actually need their expertise in the rental industry.

That’s why we’re starting to see agents adopting the use of virtual assistants (VAs) to answer calls, book appointments, and other routine tasks that can take dozens or even hundreds of times a day. day. Virtual assistants can work from anywhere in the world, and the costs of hiring them are often much lower than hiring extra staff to handle all those calls – in fact, some sources think you can save $78 % on operating costs using VA.

That’s why I predict we’ll see a lot more virtual assistants hired into the rental industry to handle standard calls and tasks, escalating complex queries to internal staff.

Data capturing

Having a database full of potential owners and a business development manager scouring that database – that’s an ideal situation. But how do you establish or develop this database to your goal?

Two words: data capture.

The most successful agencies already capture the details of every lead, and it’s easy to see why – traditional methods such as ads and direct mail require the owner to contact you, but if you have their contact information, you can actively contact them. . for them.

I expect to see an increase in agents capturing data in a number of ways, such as hosting webinars so owners can book and share expert guides on their website that require the reader to submit their name and his e-mail address in order to access.

Factors such as housing prices and pandemic restrictions may be beyond an agent’s control, but there are certainly plenty of opportunities to grow your business in 2022 – by thinking outside the box, building a stronger team and working smarter, not harder.

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