Published 18th July 2019
Impact of the Tenant Fees Act 2019
The ban has hit letting agents hard since its enforcement in June 2019, and finding ways to fill the revenue gap is proving difficult.
Read on to find out how providing value-added property services to landlords will help drive new revenue streams for your agency.
Why choose property licensing?
Providing property licensing services to your landlords’ rental portfolio allows agents to replace lost revenue, as well as avoid fines from councils. Property licence compliance not only protects landlords and agents from fines, but it also ensures the safety of properties rented to tenants. Keeping agents and landlords up to date with the latest legislation can be complex as each region of the UK and each council can introduce different schemes with different legislative requirements.
Always ensure the status of licenses on rental properties is known before they are let. Protect vulnerable tenants and also help to maintain a professional reputation at the same time.
Is it easy to offer property licensing as a service?
Yes. Managing licensing for your landlords allows you to earn extra revenue for monitoring their property portfolio, as well as by administering the licence applications on their behalf. Equally, ensuring compliance to the latest requirements now, could help prevent lengthy and costly void periods in the future.
Property licences run on 5-year cycles, and this service will allow agents to retain landlords for that period, as well as develop a further means to communicate and build rapport. Further protecting your future revenue.
Any licence application completed by an agent is non-transferable, offering agents longevity. If a landlord decides to leave their current estate agent after 12 months but they completed the licence for 5 years the landlord needs to apply for a whole new licence. So working with Kamma (formerly GetRentr) helps you to retain your landlords.
How to get started
Simply register your property portfolio with us or ask for a demo. Kamma will notify you of every property with every licence determination and its current status, UK wide.
What fee can be charged?
The fee to landlords for monitoring their property licenses and notifying them of status changes, is a valuable service. It prevents hefty prosecution from councils and peace of mind for continuous yield. Fees can be at your discretion dependent on areas covered, and time taken with certain councils, through to the volume of properties by landlord. But hundreds of pounds per property, per application is the ballpark figure.
Additional fees for a complete licence application service direct to the relevant council is particularly helpful to overseas landlords. This may also result in an agent overseeing the work that needs to take place to update the property for a license to be granted; this again adds value to the agent services provided.
Kamma (formerly GetRentr) is delighted to be one of the speakers on the panel at this event, discussing the impact on recent policy reform in the Private Rented Sector. This will be our first event since we rebranded to Kamma. The seminar is timed following the passing of the Tenant Fees Act and the Homes (Fitness for Human […]Read article
Andrew Trigg, Chief Geospatial and Data Officer at HM Land Registry (HMLR) shares his views on Kamma (formerly GetRentr) and how we’ve helped with their data initiative. Read more about our work with HMLR here.Read article
Join us for breakfast at The Brewery, London on 23rd July. Our partners Airbus and WhenFresh, as well specialists JBA Risk Management and Cranfield, will collectively look at how earth observation and land information can be allied with new risk and valuation systems. This session will allow lenders, surveyors, insurers and banks to build a […]Read article
The government has estimated that there are more than 10,000 rogue landlords operating nationwide, many of whom own England’s 500,000 houses in multiple occupation (HMOs). However, there is no single, UK-wide government database of rogue landlords. Similarly, there is no single database of all UK HMO properties being vetted and managed for licensing law compliance […]Read article
Save all the time and money you spend checking your portfolios and notifying your landlords. With GetRentr it’s all automated.
Protect yourself against £30,000 fines, risks to your reputation and publication on public registers
Earn new revenue & retain customers by introducing a new targeted service to apply for licences on behalf of your customers