An online letting agent has completely dropped tenants’ fees and slashed fees to landlords, ahead of the fees ban.
It says that better technology, with more automation of tasks, has made this possible.
MakeUrMove previously charged tenants £96 for referencing. It has also reduced average fees to landlords by over £50 per year.
Landlords will now pay £12 as a monthly subscription, including advertising on Rightmove and Zoopla, tenant referencing, rent collection, legal eviction services, property licence checking, and documents and renewals.
At £144 per annum, it actually works out to less than the average landlord spend of £200 a year until now.
The new subscription will also include optional bolt-ons at extra charge, including guaranteed rent for up to six months, and gas safety certificates.
Alexandra Morris, managing director at MakeUrMove, said the firm has put considerable effort into technology and increased automation.
She said: “Our new subscription package costs landlords less than the average previous spend, and contains – we think – everything a landlord needs from a letting agent.
“We have spent months looking at how to achieve this, and have also acted on the assumption that there will be longer tenancies in future, and that landlords will need ongoing support rather than one-off services.
“The Tenant Fees Bill is going to affect the whole property industry. The most innovative agents will look to technology to reduce costs.
“We’re at the forefront of this as the first agent to come out and support the tenant fees ban.
“As a tech platform, we’re constantly developing and will be adding new features as standard to our package. We want to be a landlord platform rather than a letting platform.
“Last year we conducted some research that suggested that 25% of landlords and 85% of tenants didn’t understand the upcoming ban, so it’s now our responsibility to prepare landlords.
“We’re confident that our new subscription model will do this.”
The £12 per month subscription is being offered alongside a free basic package, which will include advertising on the MakeUrMove site and one downloadable tenancy agreement.
There is also a pay-as-you-go package offered to landlords at a one-off cost of £96, which will also include tenancy documents and deposit lodging, rent collection for 12 months and advertising on the major property portals.