New automated lettings platform allows smaller agents to become 'mini-Foxtons' by automating admin
14/09/2020
Author : Mary-Anne Bowring/West Wales Chroncile
PlanetRent Saves Time & Money
The property lettings industry is evolving, and agents need tools that help streamline their work. PlanetRent, developed by the Ringley Group, is an innovative automated lettings platform that enables agents to save both time and money. By consolidating all essential tasks into one cloud-based portal, PlanetRent connects agents, landlords, tenants, contractors, accountants, and site staff. This centralized system reduces the time spent on administrative duties and eliminates costly human errors. A standout feature is the platform's ability to ensure compliance with legal requirements, protecting agents from fines of up to £20,000.
Streamlined Compliance and Risk Mitigation
One of the greatest challenges agents face is staying compliant with changing regulations. PlanetRent automates critical compliance checks, including the five mandatory documents that need to be shared with tenants upon move-in. With recent increases in rental regulations, including the introduction of Right to Rent checks, agents must ensure all legal requirements are met. PlanetRent makes it easier to keep track of essential safety certificates and documentation, mitigating the risk of costly fines and compliance issues.
Integration with Existing Systems
PlanetRent is designed to make property management more efficient without disrupting existing workflows. The platform integrates seamlessly with accounting systems like Sage and Xero, or it can act as an outsourced accountant itself. This reduces the need for agents to purchase multiple software packages, making the process of managing portfolios more cost-effective and simpler to manage. With real-time reporting and financial oversight, agents can ensure their clients—whether landlords or institutional investors—are always informed about the performance of their rental properties.
Confidence in the Rental Market
Despite market fluctuations, there is renewed confidence in the rental sector. The latest RICS survey showed increased demand from tenants, as well as more buy-to-let landlords listing properties. The Build-to-Rent (BTR) sector, in particular, is booming with over 160,000 homes either completed or under development. Mary-Anne Bowring, Managing Director of Ringley, emphasizes that institutional investment is reshaping the rental market. To stay competitive, agents must adapt, offering more than just properties—providing a superior customer service experience that meets the demands of modern tenants.
Enhancing Customer Experience Through Automation
PlanetRent goes beyond just simplifying back-office operations; it helps agents improve the overall tenant journey. By automating key aspects like marketing, information distribution, and reporting, the platform ensures a smooth and efficient process for tenants. With less time spent on administrative work, agents can focus on customer engagement and revenue-generating activities. This approach enables even smaller agencies to operate like larger, more established firms, with a streamlined system that supports growth and profitability.
The Future of Lettings: Simplified & Secure
PlanetRent is a game-changer for the lettings industry, offering a solution that combines automation, compliance, and streamlined processes into one easy-to-use platform. Developed by the Ringley Group, PlanetRent empowers agents to offer better services to their clients, save on costs, and reduce administrative burdens. As the UK faces potential lockdowns and continued uncertainty, this cloud-based platform enables agents and landlords to transact securely and efficiently from home, ensuring business continuity regardless of external challenges.
info@planetrent.co.uk
0208 0599 550 (for sales)
Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
New and Exclusive: This term refers to a property that is either new on the market or a new instruction, exclusively available through a specific agent or portal.
New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.