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60 second interview on the lettings market with Andy Halstead, Founder and CEO

Posted by on July 29, 2013

How can Let Alliance help a letting agency?

Let Alliance has been developed by letting agents for letting agents. We have two distinct objectives: the first one is to help letting agents manage risk by assessing tenants professionally; guaranteeing the rent supported by legal expenses; and by providing specialist tenants contents insurance and landlord’s buildings and content insurance to letting agent customers.

The second one is improving profitability. All Let Alliance products have been developed to improve the revenues and profitability of letting agent businesses. Referencing and rent guarantee are acquired by the letting agent and appropriate margins are earned. Letting Agents also earn generous commission on tenants and landlords content insurance.

Why is your “new proposition” different?

It is different on a number of fronts.

First is the specialist rent guarantee and legal expenses that guarantees the rent for tenants that are receiving benefits. We take all benefits’ income into account, and when a guarantor is required, they are referenced without charge. Secondly,we have a specific direct to tenant referencing proposition for Scotland, which works within the new Scottish legislation and allows letting agents to earn incremental revenue.

Let Alliance also now offers rent guarantee on a per tenant and a per property basis, giving letting agents flexibility. Finally, Let Alliance offers exceptional value for money.

What do you think makes you so popular among Letting Agencies?

Our products, the friendly Let Alliance team understanding what letting agents need and value for money. We listen to letting agents and develop our proposition for them.

How do you see the lettings market evolving?

I believe the profile of landlords and tenants will change. Many accidental landlords will exit the market as property sales strengthen and professional landlords seeking investment yield will enter the market and buy more properties. Tenants will become more discerning. I also see a shift from landlords who currently self manage their properties with more and more instructing letting agents, as it becomes more difficult to manage risk and legislation.

How do you see the business growing and developing to keep up with the lettings market?

Let Alliance listens to letting agents. We also own a letting agency in Chester. So we will grow by staying very close to the market, constantly developing our proposition in tune with letting agents’ needs, and by winning new letting agent customers every day. When we win new customers we keep them. Customers are precious at Let Alliance – we care for them passionately and stand their corner. The PRS is a tough market and we help letting agents build their business and prosper.

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