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Setting up a letting agency

  • 09-09-2009 2:15pm
    #1
    shaneostar
    Closed Accounts Posts: 2 ✭


    Hey everyone,

    First time post for me. A few friends have recently experienced difficulties renting apartments or have had problems with agents. I am thinking of setting up as an agent myself. I have started to look around recently at the steps I need to take to do this. Can anyone help me out or offer advise???

    Rgds


Comments

  • #2
    soddy1979
    Registered Users, Registered Users 2 Posts: 284 ✭✭soddy1979


    A couple of things to think about.

    - Do you need a license?

    - Do you need to have a physical shop, or can you work online/over the phone, from home and meet people at the properties? What effect will this question have on your costings?

    - What is the rent market doing at the moment? Oversupply = many properties, fewer lessees = downward pressure on rent prices. How will you get the lessee to come to you as opposed to anybody else? How will this change in the future and what effect will this have on your business?

    - Stamp duty legislation, what effects will this have on your business.

    - Property prices, what effects will this have on your business.

    Regards,

    Soddy


  • #3
    shaneostar
    Closed Accounts Posts: 2 ✭shaneostar


    Cheers Soddy,

    Im interested in the mechanics of it at the mo...so yes I am looking into licensing, who I need to register with (PRTB) etc etc. Obv will need to build up a bit of a reputation to gain clients but I have a number of properties to start with and can work from home so there is no overheads/major costings asuch. Any further thoughts??

    Shane


  • #4
    EKRIUQ
    Registered Users, Registered Users 2 Posts: 4,387 ✭✭✭EKRIUQ


    You don't need anything but a qualification in Auctioneering and Estate agency should be compulsory. There is a lot of estate agency law to know. To stop your self getting sued.


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