Is your lettings business ready for the future?
Hunters, one of the UK’s largest franchised sales and lettings agency businesses, has delivered strong half-year results, despite the widely reported challenging conditions in the housing market. The Company has reported robust figures ahead of last year, having opened an additional eight branches so far this year, six of which have converted to Hunters from other businesses.
Hunters specifically reported an increase in Lettings income by 14%. This is in part driven by the Hunters’ fund for franchisees to help them buy lettings books as well as competitor businesses, with 11 such deals completed since launch. With an established and experienced lettings business and team behind it, Hunters is well placed to drive success within existing as well as future lettings businesses.
With the lettings industry facing several challenges at present, including the anticipated tenant fee ban expected early 2019, lettings agents are faced with some difficult decisions ahead. They must address their business model and put measures in place to replace the tenant fee, including renewals, with other income streams; increasing rents is simply not the solution. It will require a comprehensive evaluation of current income sources and assessing where in the business you can cut costs, and where you can increase income.
Hunters is ahead of the game and offers all its franchise partners a full range of technical tools, systems, training and expertise to help ensure their lettings businesses are successful and that income streams are maximised. Through support and training, Hunters branches are prepared and set up to deal with upcoming legislative changes that at face value would expect to see a negative effect on financial income (by means of abolishing the right to charge tenant fees).
- Do you have a lettings business or portfolio you are looking to sell or rebrand?
- Are you ready for the changes ahead?
- Do you know how to expand additional income streams to safeguard against restrictive legislation?
- Do you have the best solutions and built in technology to improve your services to both landlords and tenants?
- What does your digital business plan look like to make sure your services and your business is evolving alongside today’s 24/7 driven consumer who expects instant communication?
- Are you and your team up to date with the ever-changing legislation to make sure you deliver accurate and current advice and service to your landlords and tenants?
- Do you know how to expand into sales to help you attract both landlords and vendors and through this also future-proof your business?
Hunters has over 25 years experience in estate agency and a comprehensive support structure in place to drive successful franchises in both residential sales and lettings. All agents are offered free training through the Propertymark endorsed Hunters Training Academy – with special modules for lettings to ensure our agents are kept up to date with latest legislation and compliance.
Source: Hunters Franchising