Starting a lettings agency looking for Mentor/opinions form landlords

[raspberryroop]

I'm just starting to set up a lettings agency Shropshire/mid wales. I was wondering if there were any ex agents who could give me a little mentoring or landlords who have opinions/experiences that could help me make my service as landlord friendly as possible. I have business experience but this is a totally new venture.

Hi

I'm in the process of doing the same as you but in the midlands.

My advice from research I've done would be to make the service as user friendly to tenants as possible, while being as fair as possible with the landlords.

A lot of people I have spoken to say that they are really put off private rentals because the potential for repairs etc not to be done is higher.

I'm also in the process of re writing some rental agreements into plain English, they can be so full of jargon and people are also put off by this.

Hope this helps, pm me if you needs any more info.

Just out of interest, have you completed your letting agent qualification yet?

Hey - No still in the very beginning stages - I think I will be taking them as I don't aim to really launch till September as have existing business to wind down and also don't see the summer holidays as optimal starting time. Do you have a website yet ? Would be very interested in sharing any thoughts/problems/successes you have .

I have my office base and a client base already and at the moment it is a small time thing being run from my living room. I've started off being agent for a couple of friends with rentals and its grown from there really.

My office is actually going to be based in my parents back garden - they have a thriving business there already and I can use some of their space which is great as very few overheads to think of.

Currently in the process of lining up some properties, but also looking at buying in to a franchise opportunity too to give me a lot more properties to manage. Countrywide Residential Lettings do franchises I believe and they are nationwide so worth a look!

I'm a landlord in your area if you want to pm me.

As a landlord I'd say that the following are usually hit and miss with agencies:

• proper credit scoring checks and employer references
• full professional training for lettings staff
• proactive tenant search/suitable office opening hours
• up o date website info e.g. Let/to let status and photos

If you get all these right, and present your offering in a clear, contemporary way, I think that you will be successful. Best of luck

You could also look into doing property management, most blocks of flats use an external company - look at some existing local ones to see what services they offer and for how much. Then approach the leaseholders offering a better service / price.