This business package has been put together by a leading Lettings Agency and allows anyone to start their own Residential Lettings Agency with the support of people who have already done it.
Please click the questions below to reveal helpful answers to some of the most common questions:
Do I need any qualifications or a licence to operate a Letting Agency?
No special qualifications or licences are needed to operate a Letting Agency. As long you act in an honest professional manner and in the interest of your clients you and your agency will be ok.
How long does the telephone support line last and is there a cost after this period?
The telephone helpline is there for you to use as much as is needed, there is no time limit and the use of the helpline is free. Advice and help is also available via email.
How long does it take to get the business up and running?
This depends on you but you should be in a position to start within 1 month of receiving your business package. The business package is delivered to your home via special delivery, you will need to research your area and competition and read through the manual. Organising your website, to let boards and setting up your letterheads will also need to be completed before you start.
Do I need a high street office to operate my business from?
The business can be operated from home (but do not arrange appointments to meet clients at your home). As your business continues to grow you may wish to move to a office to separate your working and personal life.
Will the current economic climate hinder the growth of my business?
Not at all, with the changing attitudes towards renting and the increasing difficulty in obtaining mortgages more and more people are looking to rent.
You say there are no or little bad debts how do I collect my fees?
Your fees are deducted directly from the rent, you deduct your fee and pay the remaining balance to the Landlord.
What if a tenancy goes wrong?
The vast majority of tenancies run smoothly, however you will have a small amount of tenancies where you encounter problems i.e. the tenant stops paying the rent. The operations manual explains what to do in such cases and if you follow the information you will be able to solve these problems. Don’t forget you also have unlimited access to a free telephone/email help line.
I have looked through my local paper and there are already a number of Letting Agents in the area will this make it difficult for me?
You can use this to your advantage, most of the bigger agents will not give a personal service instead they rely on their name. Also to begin with you may not have to charge VAT meaning your fees should be more competitive. You can also be flexible in the services you offer as you not restricted by a larger companies structure.
The adverts for the other agents look expensive will I have to spend a lot on advertising?
No you can start to build your business without having large adverts in the local papers. The operations manual gives details on how to build your business without spending a lot of money on advertising.
Still Got Questions?
We understand you probably have lots more questions, We are here to help! If you have any questions in relation to starting up your own property letting agency then please don't hesitate to contact us.
Simply send us your question(s) and one of our experienced Agents will reply as quickly as possible with all the information you need to help you move forward.