"Gone are the days of signing up to a rental package where certain features simply aren’t needed."
Upad will now offer landlords a choice of either UChoose or UPay on Success, with a zero deposit option available across both.
UPay on Success is aimed at landlords who don’t wish to pay up-front, or those who require a fully comprehensive service, and is only payable once a tenant has been found.
Alongside the new ‘unpackaged’ service and pricing options, Upad will also offer landlords the chance to list their properties as not requiring a traditional deposit to be paid. Instead, landlords can choose an insurance-based replacement that costs the same as one week’s rent.
Founder and chief executive, James Davis, commented: “Half of all UK landlords have been in business for over five years and understand the regular and ongoing demands of letting a property. In many cases, they have established tenancy agreements in place, inventories have been drawn up and amended on numerous occasions and an investment has been made in quality property images – they simply don’t require everything, every time they let a property - this allows them to pick and choose.
“UChoose will, therefore, provide a menu of options that landlords opt in to, and pay for, according to their individual requirements. Gone are the days of signing up to a rental package where certain features simply aren’t needed.
“A significant proportion of landlords remain cautious of up-front versus success-based fees and whilst the reality is that eventually any agent will find you a tenant, the real issue is just how quickly that will be. Void periods are, after all, a key concern for all landlords.
“Such is our confidence in the way we operate, that we’re prepared to offer landlords a guaranteed results service where they’re only charged once we’ve been successful.
“When a deposit on a previous rental property is yet to be returned, forking out another six week’s rent can be a barrier to entry for many renters. The insurance-based zero deposit option lessens that barrier and, therefore, makes the property appeal to a greater pool of potential tenants, thereby reducing the time it takes to let."
