Running a Home Based Letting Agency
These days with the benefit of the internet, call answering services and mobile phones, more and more self-employed people are deciding to work from home, and those wishing to become a letting agent are no exception.
Individuals and companies intending to start a letting agency alongside an existing business with existing dedicated premises, for example a retail shop, or an office-based going concern, do of course have no decision to make on the subject of premises. It will prove to be simplicity itself to diversify into the business of residential lettings with no increase in premises overheads, and to utilise many of their existing facilities.
If you will be setting up a letting agency as a stand-alone business, either full or part-time, and are considering whether to rent or lease shop or office premises for the purpose, our advice is simple – don't! They are totally unnecessary. Your profits will be higher, with less stress and inconvenience, working from the comfortable environment of your own home.
Remember that these days your website will be your shop window, as well as your online brochure. The internet is a great leveller, and with a professional website the small home-based business can look as professional as a large multi-national, or a major letting agency franchise.
Working from home, personal callers will not be necessary. After any initial queries they may have on the telephone or by email, landlords will be impressed with your readiness to meet them at the property concerned, and discuss matters on site.
When tenants call, you will either log their details and requirements in your tenant applicant register for future matching, or arrange to meet them at one of your properties for a viewing.
It will of course be important that you set aside a dedicated working area, with a desk or at least a table top, and telephone, where you can work undisturbed by the rest of the family. A spare room, or part of the main bedroom would be ideal.
Over the years, Southcourt Property Management have helped set up numerous letting agents across the UK, and more than half work from home. Once established with 50 or so properties on their books after say 6 or 12 months of trading, some feel the urge to move into serviced office premises, whilst others are very happy to continue running their letting agency business from home.
Please contact us for more information about starting your own letting agency business, from home or office.