Growing share of lettings management happens outside ...

Research from lettings management software provider teclet shows how important 24/7 transactions are in the industry today.

Results show that 33 per cent of interactions with teclet’s automated platform take place outside normal business hours.

An interaction includes pre and post tenancy work and property management, and aspects like issuing and receiving documentation, referencing, payments, signing documents, renewals, end of tenancies, changes of sharers, service notices, deposit management, right to rent checks or safety certificate renewals.

Teclet chief executive Alan Blockley says: “The pandemic has undoubtedly created a paradigm shift in the way both consumers and businesses operate. There are greater numbers of people working from home and not tied to a nine to five, Monday to Friday regime and a growing expectation of being able to conduct business at times that suit them.”

The research shows that while the majority of interactions with landlords, tenants and guarantors still take place between 9am and 6pm, some users are now seeing up to 46 per cent of interactions taking place when branches are closed - and the numbers are increasing.

Overall, the current teclet research shows 33 per cent of total interactions taking place outside of these hours with 23.5 per cent taking place between 6pm and midnight and 6.5 per cent taking place between 6am and 9am.

Whether it is insomnia or a reflection of clients and customers accessing the platform in different time-zones, 3.0 per cent of interactions take place between midnight and 6am in the morning.

Blockley continues: “What this research clearly shows is the need for letting agents and property managers to be making their services available 24/7/365.”