Do you NEED to have a floor plan for residential lettings?

do you need a floor plan?

Maybe, Maybe Not.

For residential sales the floor plan serves two purposes, the first is that it allows most people to look at the photos alongside the floor plans and then serve up a more complete picture in their mind.  The second purpose is to give surveyors and buyers a guide as to the price per square foot or metre of a property.  The prevalence of valuation by this method by both agents and surveyors means the floor plan in sales is almost sacrosanct (for now).  Noting that in the UK it needs to be a RICS accredited one to matter though.

Not the same for Lettings.

For residential lettings the floor plan serves one purpose.  It allows the potential tenant to take a look at the pictures they are being shown alongside the floor plan and attempt to piece together what exactly it is they are supposed to be looking at.  You don’t need to piece anything together with the new breed of virtual tour though.

The sad fact is that most letting agents don’t bother to have good photos of a lot of the flats they are marketing, nor floor plans.  In what is going to become and even more competitive market these agents will be washed out.  If you can pay a few hundred quid for an online agent with professional photos and a floor plan why are you going to pay £1500 to a cheap local agent and not have them?

as useful as a floor plan

So if you only need a floor plan to help you market the property in order to give potential tenants a decent prop to back up the pictures, why do you not just get a virtual tour done?  The Matterport tours like this one – https://goo.gl/scl3wA – have photos that can be downloaded, a top down view of the actual property, a 3D model of the internal space and a free virtual tour thrown in.

Guess what?  The price is about the same.   A typical one bedroom flat with pics suitable for the web and all of the above is about £65.   The turnaround is super quick and let’s be honest here, this is much better than photos and a floor plan.  Especially for the viewing public.

Needless to say this article is written by an ex-lettings agent and now vendor of Matterport virtual tours but don’t let that put you off…

For more information email info@vrpm.co.uk, contact us through the site or call on 020 3488 0506


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