After graduating from the University of Hertfordshire, Eleanor spent a number of years working in project management. In 2003, she purchased her first property for renovation. After a successful few years of renovating she began house building, buying plots of land at auction, and overseeing the build process. During this time, a number of properties were retained for the rental market. As the recession hit, and the housing market declined, more emphasis was put on the lettings side of the business, and The Online Letting Agents was created.
Why did you set up TOLA?
My experience as a landlord was one of frustration; frustration at the fees I was paying to high street agents, at the level of service I was receiving, and the knowledge that i could do better myself if only I could get decent tenant leads. After some research, I found that there were online agents available who could get me those leads via rightmove and zoopla, but their service just didn't quite give me what I wanted.
Speaking to landlord friends, it soon became apparent that this was not just my issue. A good friend, Simon, who is an IT specialist was looking for a new challenge, and together we set up The Online Letting Agents
What does it offer landlords?
The Online Letting Agents offers landlords a truly viable alternative to high street agents. Our key objective from the very start was to offer a low cost solution with a level of customer service that was second to none. We enable landlords to advertise on the major property websites (including rightmove and the zoopla property group) for minimal cost, send through pre-vetted tenant leads, provide comprehensive reference checks and a bespoke contract. Our landlords stay in control at all times, with support provided as necessary throughout the process.
How is it different from competitors?
We have a couple of fundamental rules at TOLA. Firstly, we strongly believe that the best way for us, the landlord and the tenant to get the best result is to work together. We like to get to know our landlords; their likes and dislikes about potential tenants, and the level of support they require from us. We keep everyone updated every step of the way, so they always know what is happening and when.
We work together with our clients to find the best solution for all parties. Secondly, we really respect our landlord's privacy, and as such it is a company rule never to give out a landlord's contact details, meaning no calls while they're are at work or enjoying a quite night with the family.
What do you most love about your job?
I love helping landlords to make the most of their property investment, whether it is finding the best tenants for them and their property or working through issues they may be having. We have a variety of landlords from single property owners to large portfolio holders and I enjoy getting to know them and what makes them tick. It's really interesting, with no two days the same. I speak with people from all walks of life who are all very different but have a common purpose be it to let or to rent a property.
How do you think the lettings market will perform over the next 12 months?
The lettings market has gone from strength to strength in the last few years and I see no reason why this will not continue. It's a great time for landlords. Demand continues to outstrip supply, and as the housing market continues to strengthen, the gap between earnings and house prices widens resulting in continued growth in the rental market.
What are the key issues facing the lettings market this year?
There is a continuous debate regarding increased legislation for both landlords and letting agents. In my opinion, good landlords and agents have nothing to worry about. We should view this tightening of the lettings industry as a positive step as it will help to protect both landlords and tenants alike.
