How to find landlords for new independent lettings agency?

[lovemakespeace]

Hi all,

My husband and I are hoping to set up a small property agency - mainly lettings but also being the middleman for renovation projects (could go hand in hand if landlords want work doing before renting).

We are hoping to get the lettings side off the ground first. We already manage one property and have enjoyed the process of finding tenants and getting it all set up.

I started a thread in chat this morning and it seems like our proposed rates are good value for landlords (if anyone else minds sharing what they pay as a landlord to their agency that would be great).

Now to find some landlords... does anyone have any tips on where might be good to advertise etc? I'm South West London.

Many thanks.

Your target audience may be spread out, some local, some a distance away, some abroad. We manage our own properties as we are nearby. The recent change in letting fees means some agencies that focus on a find a tenant service may struggle so one angle maybe local EAs looking to downsize their lettings service or EAs that don't do a lettings service and tie up with them. Many Residential Landlords are a member of an association like the RLA so try advertising with them. I love managing our properties but wouldn't do it for others due to all the things that could go wrong and the legal implications - good luck.

Thanks petts - really good tips I appreciate it :)

NLA have a quarterly magazine, that has lots of adverts in.

Local councils sometimes run landlord support groups of have landlord forums, they may be interested in helping you if you can prove you run a good service or are willing to be vetted or attend their groups.

Join online forums such as Property Tribes. As long as you are willing to share advice you can advertise your services on there.

Leaflet properties that are empty or for sale (as they may decide to let instead).

Leaflet properties that are already for let with other agents

Are you trying to let to students? Unis have approved suppliers, try to be one of those.

Thanks so much sunny shores all those suggestions are fab :)

Loving the property tribes forum!

Its a good site isnt it, loads of current info.

The other things is there are alot of new nationwide online letting agents (ie Lettings supermarket), I dont know how they manage to cover so many areas, how they do inspections, maintenance etc. They must use local agents surely? Perhaps ring a few of them.

Perhaps get trained properly by AIIC and offer an Inventory service. It seems to be an art that many agents dont quite manage to do well and its so important these days with the Deposit rules. You could offer it and then inspections to landlords managing themselves or even to agents that dont do this themselves (lots buy this service in).

Ive thought about doing this alot over the years (each time a LA has p*d me off), interested to know how it goes for you!

Open rent is superb for advertising rental properties, and cheap!

Thanks again both - really appreciate this :)

Hit a bit of a fly in the ointment re Rightmove and Zoopla fees - it seems they aren't really any viable options for really small agencies like we would be (just seeking to do a good job for a few people really). We have used OpenRent privately but can't do that if acting as an agent.

Have also thought about the inventory and lettings supermarket route and you have prompted me to investigate both, thanks sunny shores