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The Evolution of Property Portals

Over the past several years the Property Portals market has been changing and evolving in the attempts to please all parties involved in the letting business. The market gets flooded with many players but several only last a short period of time, mainly because they’re unable to keep their promises which leave only the major players in the game.

The biggest contributor to the evolution is the internet and the web companies that have made their voices known. Keeping up with the ever changing trends is never an easy process so the successful businesses are required to be pro-active instead of re-active. It’s vital to introduce new products and unique ideas that will benefit letting agents, landlords and tenants alike. The old adage of “if you’re not moving forward, or just standing still, then you might as well be moving backwards”, has never been more relevant than it is to the property portals market.

If you can’t attract new customers on a consistent basis you’re never going to stay in business for very long. The best idea so far has been for the property portals to have a limited number of letting agents on board – hopefully you’ll find fast reactive agents that will keep your business ahead of the rest of the field. With over 11,000 registered letting agents, all of whom are paying large sums of money for registration, it’s not surprising that some of the less than dynamic agents start to struggle, their income decreases and they’re left with a large business loss.

The main idea behind the property portals is to first drive site traffic which will then provide the searching users with the information they’re looking for, which will then provide leads for the letting agent. If all of this occurs in a proper manner, everyone will be happy and the letting agents business will continue its growth. Letting Links is such a property portals that are here to help connect prospective tenants with letting agents and landlords.

By listening to the letting agents and to the tenants in order to address any additional questions, concerns or problems, the web business or property portal will continue to evolve and thrive into very successful online businesses.


Understanding Property Rental Credit Checks and Property Rental References

Property Rental Credit Check and Property Rental ReferencesWhether you’re a tenant or a landlord, you’ve probably heard the terms property rental credit checks and property rental references before—but if you don’t know how they should be used, or why you should ask for them—it’s just another piece of paper to add into the mix. So before you run off and get property rental credit checks and property rental references gathered up, let’s take a second to understand how they’re used – and how you can secure the best possible outcome for your checks and references, regardless of if you’re a tenant or a landlord.

A property rental credit check is essentially a piece of confirmation you are, who you say you are. A landlord will often order a property rental credit check to make sure that the tenant applying for the flat is being completely honest about who they are, as well as checking to make sure the tenant is financially fit to rent the property in question.

A property rental credit report will normally consist of various items, but mainly act as a safe guard to proprietors. The report will generally contain information about
previous bankruptcies, insolvencies, bad credit, no credit or any other outstanding financial concerns. Depending on the provider, information such as employment history and current rental arrangements may also be disclosed. The report will put any comments the current landlord may have about the tenant in question (late payments, unruly behavior etc.) as well as the duration of the letting. Some landlords however, may decline the opportunity to have any information disclosed about the tenant – should this be the case, the report will show that they have spoken with the landlord, but commentary was refused.

Property Rental References on the other hand, are a tenants way of showcasing their true “personality” via other people. The types of property rental references required varies greatly depending on the landlord, however, generally speaking a landlord likes to have 2 personal references as well as a professional reference (these may differ depending on your current rental agreement.) The landlord will normally ask for these references before signing the lease, as to confirm what the tenant is claiming – is actually true. There are situations where a landlord may put restrictions on family references, purely because of biased opinions. A family member will normally leave a glowing recommendation for a not-so-stellar family member, where as a friend (despite being a personal reference) may give tips or hints as to the potential tenants true character.

Always make sure to check your own credit history prior to applying for a lease, as you are responsible for your reports accuracy. Note any discrepancies as well as any “problematic” areas you may find. Although you may not be able to remove them, you may be able to determine your best possible explanation ahead of time, instead of being caught without any notice. Landlords do not always expect a perfect property rental credit check, but they would like to see stability, security and the capacity to live in the unit in question. Although they may seem like a burden, property rental credit checks and property rental references actually make the letting process easier for everyone involved.




June 2024
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