General (main property discussion here) - New Letting Agency

I am interested in starting up my own letting agency does anyone have any advice?

Frank,

Give ARLA a call or check their website www.arla.co.uk. Sure they can help or at least point you in the right direction.

Owen

Frank,

Have you a lot of experience in this sort of thing?

Have you many propertys of your own? Maybe you could manage yours (if they are in the same area that is)?

Which area are you in Frank?

Simon

it's quite a step up from running your own portfolio, to running other people's Frank.

have you ever worked in an agency? there's an awful lot of rules and regs to letting out property (as i expect you've experienced) and you'd have to know everything backwards, which often comes from experience.

i'm not saying don't do it, we could all use some good agents, but don't undertake the task lightly.

John

Thanks Owen. I have also checked out the NAEA website seen a few courses that I am interested in.

To Simon. No experience whatsoever but this is not something that I am planning to do next week, I have seen a few courses and books I will be reading up on them, teaching myself things along the way. I am just about to apply for a role as a rental admin assistant in an estate agency. By the way I am in Belfast.

To John: No I have not worked for an agency as I said to Simon this is not something I am planning to do next week. I would not do it until I am very confident that I could do it. I know there are a lot of laws etc that cover it and would like to have the knowledge and the resources to refer to the relevant laws as and when required.

I work for a letting agent in HULL. i have been in property for around 20 years in all different areas of property. you have to be very careful in letting, you give the landlord the wrong advice or you dont check out the property for the new regs etc, and you can find your self in court , but having said that its a great job and i love property, just make sure you do the job the right way and never ,never cut corners even if the landlord wants you to. i have turned bussiness away before becouse a landlord wanted me act against the law,( we all need to get rid of this tpye of landlord from the trade they hurt us all in the long term )

Thanks for that David.

good luck frank.

tom

Thanks mate, looks like my money is coming soon so I should be moving up a gear so to speak.

Good luck Frank. Be sure to let us all know how you are getting on.

Where are you looking to start up? What kind of costs are you expecting to incur in order to get established?

Owen

Hi Owen

Setting up in Belfast. As for costs, well office stationary, getting personalised letterheads, advertising, office furniture etc.

frank, what are the yields like in belfast? what is the most comparable english city in terms of prices?

thanks in advance.

tom

Umm hard to say, it really depends on what price you get the property for.

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