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Starting a Letting Agency in a Recession
There is no doubt that we are currently in a recession, and many people would consider that this is not the right time to start your own business.
However this is far from true. Every cloud has a silver lining and this one is no exception - the letting agency business is really booming, for several reasons.
Buying your own property is not easy these days. Not only is property still massively overpriced, but securing a mortgage is no simple task. Demand for rental property is also increasing due to high immigration, increasing student numbers, lack of social housing, and a rising divorce rate.
Everyone has to live somewhere, and that is why more and more are turning to the rental option, with the result that letting agents are becoming busier than ever before.
There are many benefits to starting a letting agency these days -
- One major advantage is that you can run a letting agency either part-time or full-time, depending on your circumstances - you’re in complete control.
- Another is that you can work from home - you don't need business premises. Your shop window is your website, and enquiries arrive by telephone and email. No-one ever needs visit your home, and you make trips out to the properties to meet landlords and show tenants.
- A third important benefit of starting a letting agency is that you need virtually no capital to start a letting agency. You will need a computer and printer, and a digital camera, but little else, apart of course from the know-how and guidance of a professional letting agency.
These are just 3 reasons why starting a letting agency is such a great business opportunity these days. Contrary to what many believe, you do not need to be an estate agent to run a letting agency, nor do you need any qualifications or licence. An expensive letting agency franchise is certainly not necessary.
What you will need however is professional know-how, guidance and support from an established company such as Southcourt Property Management, who as well as running their own letting agency business, provide proven cost-effective start-up options for anyone wishing to start a letting agency and become a letting agent.
Posted: October 2011
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