Need some advise & guidence on setting up and running a Residential Lettings Agency

Posted on: Wed, 24/10/2007 - 22:00
Need some advise & guidence on setting up and running a Residential Lettings Agency

Hi Everyone,

I would appreciate it any one could give me some advise and guidance on running a full time residential lettings agency.

A few months ago, I started running lettings (as an introduction only service, where I charge the landlord a % commission for housing tenants) to test the water. The response was overwhelming and my objectives of running an agency on minimum advertising budget, part time and intro only worked. The time was also spent with me familiarising myself with lettings law, booking keeping, building a network of both tenants and landlords (for housing stock).

I now want to pursue this as a full time concern, which is a step up several notches. I would appreciate advice from anyone who has experiences of setting up a lettings agency.

Many thanks

Mike Cole.


Posted on: Thu, 13/03/2008 - 22:44 #1
RE:Starting up a Residential Letting Agency?

Hi Mike,
Its great that you have started a business with a successful service and one in which demand is going to outstrip supply (even in 2008)!!!
my questions are as follows:
what was best the method of advertising?

how did you deal with the cashflow aspects?

when was the point that you decided to go fulltime?

did you set up as a Limited Company?

Did you have to write out a business plan at all?

Have you developed a website promoting your services?

Will you eventually become a fully fledged Estate Agent?

The reason I am asking is I am starting my own freelance training business!!!

Any advice and feedback would be very greatly appreciated!!!
Kind Regards
Rajesh Malhotra
RMalhotra Consultants
R.S.V.P.
PS I have asked for feedback on Business Ideas Forum!!!

Rajesh Malhotra
R.M.Consultants/Project Creations