The Downfall Of Gumtree & Other Classifieds

A really good article today on Pimlico Flats talks about the death of publications Loot and the London Evening Standard, and the similar fate that classifieds website Gumtree now faces.

All three were once havens for private landlords looking to find tenants, but the need for a bigger return on investment caused their downfall. In the case of Loot, Pimlico Flats explains that it all went wrong when they started charging landlords to advertise – landlords simply went elsewhere. Gumtree has also started to raise their charges for advertisers – and we’ve all seen the downright bizarre adverts that Gumtree is famous for.

It’s really great to hear from a professional Landlord what he looks for when letting out property – and we’ll certainly be watching Gumtree from now on to see how far its decline will go.