Setting up a letting agency in the UK
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- Опубліковано 1 чер 2024
- I have successfully set up a few Lettings Agencies myself, and the first question to ask yourselves if you want to take this route is why you want to do so.
Let’s talk about the advantages and the most important aspects of setting up your own Lettings Agency in the UK. You need to consider where and how you will operate, but also what your business model will be.
In my experience, starting off with a niche agency tends to work well.
Timestamps
0:00 - Intro
0:17 - How you start a Lettings Agency
1:20 - Follow one of these 2 routes to start your own letting agency
2:47 - Decide what type of Lettings Agency you are going to run
4:23 - Who are your competitors on the lettings market?
8:05 - The roles you need in your team as a Lettings Agency
10:03 - How to be compliant when you set up a letting agency
13:08 - Have the right software tools to help you set up and run your letting agency
#LettingsAgencyUK #SettingUpaLettingAgencyUK #LettingAgentTip
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Thank you for watching my name is Saj Hussain AKA The Property Joint Venture Expert and Your Partner for Wealth Creation Through Property.
Very informative, thanks Saj
Great video clear and concise information. Keep it up 👍🏽
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Thanks for telling this great information Hassan
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Quality content Saj, really impressed
Thank you Jay
Another great video Saj, thank you for sharing! I'm not thinking of going down this route but interesting to know how letting agencies are setup and what is involved. Thanks
Glad it was helpful! If you are enjoying these videos, then please do share them with your friends.
I enjoyed it totally
Thanks for great video!! What software would you recommend for tenancy, maintenance and payment please? Thanks
Would love to see a property letting software video. On the cusp of turning my SA mgmt company into an agency. I have everything else in place including a great team and just need the right software to manage all the properties regarding maintenance, checks, utilities, visits, prospective tenants etc. Please help!
Watch this space!
Hi Saj, I'd greatly appreciate it if you can make a video explaining the different roles within a lettings agency. Thank you.👍
Hopefully coming soon!
Saj, great video as always! Quick question - with article 4 direction popping up everywhere, what would be your top 5 cities to get a HMO at the moment?
I will stick to the big cities like London, Manchester, Birmingham.
@@TheSajHussain thanks for the reply! Birmingham and Manchester are both article 4 areas if I’m not mistaken?
Thanks for the great video and content! Would you recommend someone new to the industry looking to start a letting agency to take the Property Mark qualifications? Would that be a plus to the business?
It can help for credibility Candy. However, I would prioritise finding landlords for your business.
really not easy to establish the letting agencies>> hoping you will make the next video!!
I agree, it is not easy. Hopefully this video will help those thinking about doing this.
What are the challenges of a fresh starter as letting agency?
Great video! I’d love to learn more about the systems. I’m busy setting up a self management team to manage our own portfolio. And move away from paying a letting agent.
But not sure which systems are the best and integrate with other systems already in place.
Also does the systems you use depend on the amount of units being managed?
I assume some systems are for smaller portfolios and other systems for larger portfolios (im looking for a system to manage 1000+ properties if you have any recommendations)
Much appreciated
Thank you. More videos to come on this.
I have a system to manage 1000+ properties
Already working with a lot of agencies
If you want to know and get our services reply me
Looking forward to hearing from you
Hi Saj Great video what software would you recommend for lettings
I don't have one preference. There are so many different types and they are constantly evolving in terms of features. I would create a list of your needs and ask for demo to see which one best meets your requirements.
Wow this is such a great video! Would you recommend someone young say 18 to start this? As their first steps into property investing?
If this is something you want to do I would suggest first working at an agency to build some experience.
Hi Saj, great video. So don't you need a letting agent licence? As in Scotland i know you need a letting agent licence or is it different in England?
Currently no licence in England, just the compliance.
@TheSajHussain Is this still a case in 2023 ? Or did anything change ? Do I need any specific courses or certificates to open property management company? I can't find any information online. Would you be able to recommend any websites? I came across your videos after hours of researching and I absolutely love them! Very clear, consise and relevant information and a bonus very pleasant voice to listen to.
@@emiliamcgrath1102I would like to no this to
Hi Saj, is this letting agency needed for rent to rent under a management contract? Do I need to be compliant and make a company or not?
Yes, if you are doing Rent to rents with Management Agreements.
Also business banks for client money especially in times like this when it’s banks are not / delaying opening business banks. How can we operate without client account
If you're holding client money it's a legal requirement to have a client account.
@@TheSajHussain so I should open a client account before proceeding to start my letting business
Hello Sam
I just wanted to ask if you can set up a letting agency with a virtual office and would this work.
Yes for the back office work. You will still need someone on the ground for viewings, holds keys, inspections etc
@@TheSajHussain Thank you for your reply, apologise i wrote Sam i mean Saj.
Hello, can you help guide how to bring in new business.
Watch this space! More videos to come.
North London
I want to start estate agency
I don’t see many people sharing info about starting this business
Thanks. Hopefully it is helpful.
@@TheSajHussain yes it was! If there’s anything else please let me know. As I’m in the process
@@omgitsnishaaa Come along to our monthly Property Meet in Birmingham we can chat there. www.SajHussain.com/networking
@@TheSajHussain Birmingham is quite far.. I live in london
Is it possible to have a private chat with you, many thanks
Talk to much bro. How u telling us why we want to starts an agency? U don't know my reason lol
North London