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  • Technology

    Upad overhaul product range for self-service



    Property Tribes' online lettings agent partner Upad has announced a major overhaul of its product range to better serve landlords.

    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."

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    Building on a series of improvements to its products which have included the introduction of an alternative deposit option, payment via Direct Debit and a streamlining of its rental packages, Upad has announced that with immediate effect, its UPay On Success product will be exactly that: payment only being due once the tenant has signed a contract.

    The firm launched UPay on Success last year, when the fee was payable once a tenant had been identified and the referencing process started.

    Founder and chief executive James Davis said he had now taken the service a step further.

    Landlords will pay £449 including VAT for the service, which includes Rightmove premium listing, photography and compliance-proof paperwork, once the tenant has signed along the dotted line.

    Landlords, who have a range of payment options with Upad, pay nothing upfront with this offering which involves Upad listing the property exclusively for four weeks.

    As part of the overhaul to the product, Davis said that complex caveats had been removed, with remaining terms and conditions clear and straightforward.

    Mark Watson, a landlord with a portfolio of properties across North West London, comments: 

    “One of the key reasons that I’ve chosen to let my properties through Upad, is the commitment that the team there shows to continually reviewing the market and responding to the needs of landlords – whatever their bespoke needs may be.   

    “In an increasingly complex rental market, the straightforward approach provided by Upad should be applauded.”

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