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10 Easy Ways to Increase Your Revenue

2 minute read

Jonathan Stein

Nov 23, 2020


Vaboo was developed in response to a genuine need to improve the reputation of the PRS. But what excites us at Vaboo, is not only the number of agencies joining us on our mission, but also the immense amount of untapped customer potential in lettings.

We are the first to admit we are pretty obsessed with customer experience. We understand that the customer journey from the first touchpoint with your brand to becoming your brand ambassadors is essential for the growth of your business. But stopping that journey at the point of handing over the keys is losing agents retention, referrals and revenue.

Our recent nationwide tenant survey has uncovered where agents are missing out on revenue generating opportunities - simply because they don’t know what their tenants need, want or are willing to pay for.

The survey revealed a significant number of potential revenue generating areas for letting agents – in particular on moving in. So much revenue is lost because agents aren’t really offering additional services at or after the point of move in.

Over 66% of tenants would find the process easier if removal services could be arranged. A further 42% would pay for recommended cleaning services and another 26% would pay for a stocked fridge.

Other ongoing services tenants would be prepared to pay their agent for included Parcel collections (26%), Mater readings (34%) and key replacement (37%).

Also making the list of items tenants would be willing to pay more rent for if included were items such as gym memberships, home insurance, laundry, utilities, broadband and National and local discounts.

With most agents having a pool of tenant customers four times larger than their landlord customer base, these opportunities need to be understood as the industry evolves. As soon as they do, the increased revenue streams will change how they look at their business over the next decade.

Here at Vaboo we still cannot come up with another industry, business, or sector that has as much potential as private rentals. Before the pandemic and beyond - for agents, it’s all there for the taking.

If your agency is leaving money on the table by not engaging with your customers, then Vaboo can do it for you.  Book a demo at vaboo.co.uk/demo


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