David vs Goliath: The potential impact of big agency buyouts on Landlord and Tenant services
In Edinburgh’s ever-evolving property market, consolidation trends have been emerging thick and fast among the Letting Sector. We have seen some well-known larger and smaller independent agencies taken over by bigger UK operators who strategically pursue mergers and acquisitions to capitalise on opportunities in the buoyant residential lettings marketplace.
While we fully understand that market pressures due to the volatile UK economy, The Pandemic and Cost of Living crisis and the constant pressures of legislation and political focus could prompt considerations to sell a business, we do find the rate of consolidation alarming. Our concern mainly lies with the quantity and speed of consolidation, the potential for a reduction in the quality of personal service and of course, the Landlords and Tenants (and staff) who are sold alongside these businesses.
Even more concerning perhaps is back in 2021, lettings agency business acquisitions expert Adam Walker predicted that the sector will eventually go the way of supermarkets during the 1970s and consolidate into a handful of major players. Given since 2021, one of the UK’s largest letting groups has completed 24 acquisitions of independent agencies – he doesn’t seem mistaken!
At Chapmans, we take great pride in being one of only a handful of long-standing 5-star boutique Letting Agencies left in Edinburgh. We believe the reason we have kept growing both in size and reputation, is because we have done it slowly and organically. We place a highly personalised and tailored service at the top of our priorities whilst building strong, long-lasting relationships with our Tenants, Landlords and Contractors. At Chapmans, we consider ourselves first and foremost People Managers who are also experts in property, property management, and legislation.
If you seek an Agency dedicated to ensuring Landlords and Tenants are content, safe and cared for, look no further. We manage properties as if they were our own, safeguarding them while future-proofing your investment. Allow us to handle the delicate balance of your investment needs and Tenant expectations with care, passion, and integrity.
