When a prospective tenant submits an offer through PropertyLoop, the process moves forward swiftly. The agent associated with the listing is immediately notified and has a 24-hour window to take action—either to accept, reject, or present a counter-offer. If no action is taken within this timeframe, the offer automatically expires. This ensures that both landlords and tenants receive timely updates, keeping the rental journey efficient and transparent.
If the agent accepts the offer, the platform notifies both the landlord and the tenant. Acceptance usually marks the beginning of the next phase, which includes signing the Assured Shorthold Tenancy (AST) agreement, submitting deposits, and completing referencing procedures.
If the offer is rejected, the tenant is informed straight away and can either submit another offer or continue searching for a different property. Offers are typically declined if they fall below the asking price or the applicant doesn’t meet certain requirements.
In many cases, agents may choose to send a counter-offer. This gives both parties an opportunity to negotiate—be it adjusting the rental amount, changing move-in dates, or revising tenancy terms. Once a counter-offer is made, the tenant has another 24-hour window to respond.
Although agents handle most of the communication, landlords remain fully informed throughout. They can log into their PropertyLoop account to view all submitted offers and ongoing negotiations, maintaining complete oversight of the process.
Tenants also have the option to cancel their offer before it is accepted or expires. This could be due to changes in personal circumstances or finding another suitable property.
Overall, PropertyLoop’s structured and time-sensitive offer process promotes speed, clarity, and flexibility for all parties involved, ensuring that the letting experience is as smooth and responsive as possible.
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