Too Good to be True?
11:02 AM, 22nd June 2015, 11 years ago
13
Categories:
Letting supermarket.com 4% full management fee.
Is this too good to be true – how can they deliver quality, local service?
Does anyone have experience of using them?
Thanks
John
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Member Since January 2011 - Comments: 12196 - Articles: 1396
11:12 AM, 22nd June 2015, About 11 years ago
Hi John
I’m probably slightly biased now because I own shares in the business.
However, the reason I acquired shares was that I was so impressed as a client of Letting Supermarket and I could see that they were going places. They manage my entire portfolio and I have referred over 1,000 landlords to them.
They don’t get involved in HMO’s or anything too complicated but more importantly they don’t have expensive High Street premises to pay for. All admin is dealt with by a Central Office and on the ground work such as viewings, property checks etc. are conducted by their appointed inventory clerks, all of which are self employed agents. Therefore, they don’t have big salaries or branded company cars to pay for either.
Have you seen their TV advertising yet? If not, watch PropertyTV (Shy channel 238) between 6pm and 8pm. They will be expending their TV advertising to a further 19 Sky channels over the coming months having just raised the necessary funding via crowd funding. 100% of the funds raised came from Property118 members.
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Member Since September 2013 - Comments: 154 - Articles: 1
11:26 AM, 22nd June 2015, About 11 years ago
Member Since September 2013 - Comments: 154 - Articles: 1
11:27 AM, 22nd June 2015, About 11 years ago
Member Since January 2011 - Comments: 12196 - Articles: 1396
11:50 AM, 22nd June 2015, About 11 years ago
Reply to the comment left by “CaZ ” at “22/06/2015 – 11:27“:
Hi CaZ
Yes it completed a few months ago.
Sorry you missed out, I did send notifications to all who expressed an interest and it was all over our Newsletters during the week it took to raise 100% of the required funding.
Sorry you missed out, you’ve been a great advocate of LettingSupermarket.com and I’m gutted for you that you didn’t manage to acquire shares. They are performing really well and the last shareholders update confirmed they were ahead of target in terms of number of properties under management, profit and cash at bank. In fact, they’ve had to defer some of the TV advertising whilst they recruit more staff to deal with the workload.
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Member Since September 2013 - Comments: 154 - Articles: 1
12:02 PM, 22nd June 2015, About 11 years ago
Member Since January 2011 - Comments: 12196 - Articles: 1396
12:06 PM, 22nd June 2015, About 11 years ago
Reply to the comment left by “CaZ ” at “22/06/2015 – 12:02“:
They moved into new offices last week and from what I’ve heard they’ve had several applicants for the new jobs. This is very good news as it means they will have the pick of the crop 🙂
It will be nice to hear from more members who are happy with Letting Supermarket on this thread too.
.
Member Since June 2013 - Comments: 1121
12:24 PM, 22nd June 2015, About 11 years ago
I have regular dealings with Tony, Chris and the team at LS and was also fortunate enough to acquire some shares. Yes so I am biased as well but its was my good experience with LS that got me to buy them. And of course the view that if Mark had a stake in it then it must be a good thing!!
Why pay for local letting agents plush three storey offices, Mercs and BMWs on the drives coupled with indifferent customer service when you can get a better job done with Letting Supermarket?
Member Since September 2013 - Comments: 6
6:53 PM, 22nd June 2015, About 11 years ago
I’ve used them for over a year now and have had a great service so far .
Member Since February 2015 - Comments: 14
1:24 PM, 26th June 2015, About 11 years ago
Sounds great.
I recently came back from a meeting to pitch our company to carry out block management services on a development in Surrey and one of the main question was how we could manage the block if we were based in Manchester. As we have a similar model in that we cover the whole UK.
We used the same answer although (we aren’t based online), we dont see the point of having multiple offices on the high street to cover an area and charging clients to cover for this costs plus the other high charges that go with it.
Like Mr Nock said, why pay for their mercs and BMWs?
Member Since October 2014 - Comments: 423
1:31 PM, 26th June 2015, About 11 years ago
Self promotion indeed!