Engel & Völkers is stepping up its lettings services and actively targeting private property owners. The agent network is responding to weak transaction volumes caused by elevated interest rates and stagnant sale prices by pivoting towards rental mandates. The strategic shift reflects a broader trend across the brokerage sector: firms are seeking recurring revenue streams from property management rather than relying solely on one-off sales commissions. Industry observers see the move as a logical response to market conditions that have squeezed traditional buying and selling activity over the past 18 months.