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The property management landscape in the UK has seen a significant shift recently with the news that OpenRent, a famous online letting agent, has ceased advertising properties on Rightmove. This development, discussed extensively on forums such as Property Tribes, has raised concerns among landlords and letting agents who rely on these platforms to reach potential tenants. Here, we delve into what this change means, why it might have happened, and how landlords can adapt their advertising strategies accordingly.
OpenRent has been a go-to service for many landlords due to its user-friendly platform and extensive reach across significant property portals like Rightmove, Zoopla, and others. By listing properties on multiple sites, OpenRent helped landlords ensure maximum visibility and attract a larger pool of prospective tenants. Rightmove, in particular, is one of the most visited property portals in the UK, making it a crucial part of any property advertising strategy.
Recently, various discussions on Property Tribes confirmed that OpenRent no longer lists properties on Rightmove. Users have noted the absence of Rightmove as a listing partner on OpenRent’s website, and this has been corroborated by the fact that new listings through OpenRent are no longer appearing on Rightmove.
The reasons behind this change are speculative, but common theories include a possible price hike from Rightmove that OpenRent found unsustainable. Forum users have mentioned that Rightmove has a reputation for being tough on pricing, and this might have led OpenRent to discontinue their partnership to avoid passing on high costs to their users.
The primary concern for landlords and letting agents is the potentially reduced visibility of their properties. Rightmove is a dominant player in the property market, and not having listings on this portal could mean fewer inquiries and a longer time to find suitable tenants.
However, it’s not all doom and gloom. OpenRent still lists properties on other major portals like Zoopla and Gumtree. While these may not have the same reach as Rightmove, they are still significant platforms that attract many potential renters.
For those who see Rightmove as an indispensable part of their marketing strategy, exploring alternative services that continue to offer Rightmove listings is essential. Here are a few options:
Visum: An established player in the online letting market, Visum offers property advertising on multiple portals, including Rightmove. Some landlords on Property Tribes have already expressed interest in switching to Visum following the news about OpenRent.
Upad: Another famous online letting agent, Upad, provides comprehensive advertising services, including listings on Rightmove. They also offer additional features like tenant referencing and rent collection.
OpenRent Competitors: Keep an eye on competitors who might step in to fill the gap left by OpenRent’s departure from Rightmove. It’s a dynamic market; new players often emerge with competitive offerings.
Regardless of the platform used, some fundamental principles can help ensure successful property advertising:
High-Quality Photos: Invest in professional photography to make your property stand out. High-quality images can significantly increase the number of inquiries.
Detailed Descriptions: Provide comprehensive and accurate descriptions of your property, highlighting key features and local amenities. This helps attract genuinely interested tenants.
Competitive Pricing: Research similar properties to ensure your rental price is competitive. Overpricing can lead to more extended vacancy periods.
Flexible Viewing Times: Offer flexible viewing times to accommodate potential tenants. This can help attract working professionals with busy schedules.
The cessation of Rightmove listings by OpenRent marks a significant change for many landlords and letting agents. While it may pose challenges, it also presents an opportunity to explore alternative advertising strategies and platforms. As the landscape evolves, staying informed and adaptable is crucial. We will continue monitoring these developments closely at the Guild of Residential Landlords. We will update our advertising service page to ensure our members have the best possible tools if a new recommendation is necessary.
For more details on our current recommendations and updates, visit our advertising service page.
By staying proactive and exploring all available options, landlords can continue successfully advertising their properties and attracting quality tenants, even in a shifting market landscape.