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Frequently Asked Questions  |
Listed below are the questions we are most frequently asked about starting a Letting Agency, together with our answers.
If you have any other questions, or require elaboration on any particular aspect, you are welcome to
contact us by telephone or email.
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Do I need any qualifications or experience to Start a Letting Agency?
None at all. You simply need to be comfortable dealing with people (both on the telephone and in person), ok with easy paperwork and basic computer use, and possess average common sense. We take you from the start, and all necessary know-how, procedures, techniques, and tricks of the trade are fully explained in our step-by-step training/operating manual, including full legal knowledge. A letting agency business can be run by anyone, regardless of sex, age or even nationality.
Can I run my Letting Agency from home?
Yes, you can enjoy all the benefits of working from home including minimal overheads, flexibility and convenience. Many letting agencies are now home-based. You meet landlords and tenants at the properties concerned, so you’ll never need to invite callers to your home. Documents can be delivered personally or by mail.
“I have been dreaming of this business for so long and wondered how I was ever going to get started. My business package arrived when you said and I am very impressed with the quality and content. It is very fortunate I found your website, you have saved me from the large costs of franchising and the tie-ins associated - I dont know if I will ever be able to thank you enough for this.”
Mr P Smith More testimonials...
Will I need any kind of licence?
No licence or registration is required to practice as a letting and managing agent, and there is currently no need to join a professional association unless you wish to do so. Provided you comply with the relevant laws, and act honestly and fairly towards your clients, your letting agency will be totally legal and legitimate.
How long will it take to get my Letting Agency started?
You'll need to study the training/operating manual and documents, and carry out your local research and other preparations. Then, when you are ready, you can launch your letting agency business with our ‘Boost-Start Action Plan’. You can be up and running in about 3 to 4 weeks if you wish.
Do I need specialised Letting Agency Software in the early days?
Specialised software simplifies the admin tasks and makes the office side a pleasure. If you neglect to use it from the start, you'll be missing out on its many benefits. We include a special 'lite' version (exclusive to Southcourt) of a popular system, to get you going with your first 10 managed properties or 3 landlord portfolios. We then subsidise the low upgrade cost, and unlike many such systems, there are no monthly fees: Letting agency software Property Listings Upload Software
Do you include a Letting Agency Website in your Business Package?
Of course! Any serious business these days has its own website, especially a Letting Agency -- it's an important part of your marketing. We include a wide choice of superb designs, and hosting for just £35 a year. Letting agency websites
For how long do you offer the telephone and email support?
Our telephone and email support is ongoing - there is no cut-off date. This is an invaluable part of our business package, and means that you have full access to professional advice and guidance for as long as you need it - literally. It also means that you can take your time in starting your letting agency if you wish - there is no time limit ticking away, and therefore no pressure.
How does a Letting Agent collect his/her fees?
In the letting agency business all fees are deducted at source, and you're paid immediately - there's no need to send an invoice and wait for payment. Tenants pay their fees before they move in, and you deduct landlords' fees and commissions from rental before you pass it on to them - we show you how. Therefore bad debts or cash-flow problems simply do not occur.
There are several Letting Agencies in my area already. Will this present a problem?
Quite the contrary. Existing businesses are a healthy sign, and indicate an active market. This is an expanding business, so there's always room for a well-informed newcomer. We show you how to ‘tap into’ the existing market, and exploit advantages which you will have over other letting agencies. Remember that you need only a very small percentage of local trade to produce excellent results for yourself.
Will the 'Credit Crunch' problems affect the Property Rentals Market?
Yes, Letting Agents are becoming busier than ever - every cloud has a silver lining! Unlike the property selling market, which has always been 'cyclical' (subject to boom and bust), the rentals market continues to enjoy steadily growing demand and supply. Everyone has to live somewhere, so those who cannot obtain a mortgage, and others who have their homes repossessed, become renters. Canny landlords and investors are already buying up repossessed properties to expand their portfolios. And many owners who can't sell are deciding to become landlords and let out their properties instead. Which all means more business for Letting Agents.
Will I need to spend much money on advertising?
Not at all. Don't be put off by the large press ads placed by many agencies. We do not recommend such a wasteful approach. Instead we explain a variety of effective and proven low cost marketing methods, and also include promotional material. Furthermore we show you how to acquire property instructions from local landlords without advertising at all - our most effective methods are virtually cost-free.
Who pays for repairs and maintenance to a tenanted property?
The landlord is responsible for the expense of the upkeep of his property. As his letting and managing agent, you would arrange for a local tradesman to carry out any repairs, and deduct the cost from the monthly rental you receive before passing it on to the landlord.
What if a tenant stops paying the rent?
If you follow our advice on selecting tenants, this is unlikely to occur. However, if it does, provided you have obtained satisfactory references on the tenant as we show you, you'll be totally above criticism. Rent arrears are a risk that the landlord takes, not his letting agent, and you can offer him rental guarantee insurance to cover such an eventuality. In the event of arrears there is a set procedure to follow which is quite straightforward, and fully covered in the training/operating manual.
What about other income potential?
Your influential position as a letting agent and property manager will enable you to enjoy several lucrative offspins which we explain, including how to receive consultancy payments from estate agents, contractors and financial advisors legally and without effort - this knowledge alone is worth £1000’s. You will also be in a uniquely advantageous position if you wish to ‘buy-to-let’ - you’ll often hear of investment property available at below market prices, and of course you’ll be in an ideal position to ‘skim off’ the best tenants. If you choose, you will find it easy to diversify into other property related services e.g. estate agency, financial services, commercial lettings, business transfer etc.
Why do you offer a low-priced Business Package rather than a Franchise?
Many people are interested in starting a letting agency business, but are either unwilling or unable to commit to the high cost and ongoing commitments of a letting agency franchise. There are others who simply wish to add a letting agency business to an existing concern, for whom a franchise would not be suitable. Our Complete Business Package is also ideal for the independent minded property investor or do-it-yourself (diy) landlord. It is for the benefit of all of these enterprising individuals that we have chosen to offer an affordable and highly effective alternative to a letting agency franchise.
Will I find the information and guidance easy to follow?
If you find these pages clear, you’ll have no problem with our Complete Business Package. Although comprehensive (the contents list of the main manual extends to 8 pages), everything is clearly laid out, with cross-referencing throughout. We concentrate on practical issues, explaining exactly what to do, and how and when to do it, and have kept theory and law to the minimum we consider necessary. You’ll find the Section headings and some of the topics covered on the next page. |
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Introduction |
The Lettings Business |
Financial Rewards |
Lettings Business Package |
FAQ's |
Letting Agency Manual |
Letting Agency Software & Website |
Testimonials |
Comparison with Letting Agency Franchise |
About/Contact Us |
Don't Delay |
Price/How to Order |
Lettings News |
Privacy Policy |
Terms of Business
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| Comprehensive Package includes: |  | Letting Agency Software
(no monthly fees) | | Choice of Websites
& low cost Hosting | | Ongoing Telephone
& Email Support |
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