New letting agent seeks help re procedures and duties

[Tag EA]

Hello

Just joined the forum and this question has probably been asked many times here, so sorry to repeat.

I have a successful estate agency and would like to branch out into lettings but have never been actively involved in lettings. We have a dedicated software package for agency and will use the same company for a similar 'all singing, all dancing package' which should be installed in 2 weeks.

My concerns are the legal and health and safety issues, is there a book, computer program that is almost an idiots guide to setting up. What bank accounts, what charges are made etc etc.

Look forward to your responses.

Anthony

[MrShed]

I am not a letting agent, so my advice is very very limited. But shall give it a go.

Book/package wise, the one which is mentioned time and again is the Southcourt package. If you search this forum on it, you will find massively varied opinions on it, and it is not cheap(I think it is at least £500). But for the business side, rather than housing law side, it is probably a useful reference - I have heard it is not up to date enough on housing law to be overly helpful on this side. Legality wise, other than the samwe housing laws private landlords would have to follow, you would probably only need some form of indemnity/liability insurance. It would also be advisable to become a member of a professional body such as NAEA or ARLA if you are not already.

Other than that, I guess the most important thing would be to keep up to date on all sections of housing law. These forums are certainly a useful reference in this respect. You could also consult with our senior member Paul_F, who, for a fee :p, would I'm sure be able to give some excellent training on the sector.

Hope this gives you something to think about!

[kimhazzard]

Hi, i own Lifestyle lettings and i set this up using the southcourt property pack, i know there are a lot of different views on this package and my personal opinoin is that its great and totally idiot proof. When i call them to ask a question they are always helpful and it tells you everything you need to know step by step.
I bought the package 3 months ago and iv used it so much i couldnt of done it without it. It seems expensive but when you recieve it you soon realise its well worth it.
It also depends how you use the package you need to do alot of yor own work and be patient.

[LucyH]

Just to put the record straight - once again - Our Complete Business Package is bang up to date and includes all that letting agents need to know about the legal side, including the provisions of the Housing Act 2004 (HMOs, HHSRS, Deposits, Selective Licensing, Accreditation, Disability Discrimination). Our members are always kept up to date with any legal changes via our online Members Area.

Tag EA - Sounds as though our Complete Business Package is just what you need. We have helped many independent estate agents to branch into lettings. The training/operating manual provides necessary guidance on all practical, marketing, legal and back office procedures. We include a ready made admin system, telephone support line, ongoing updates, and much more, as you can read here: www.lettings-opportunity.com/package.htm.

LucyH
Southcourt Property

[MrShed]

Just to put the record straight - once again - Our Complete Business Package is bang up to date and includes all that letting agents need to know about the legal side, including the provisions of the Housing Act 2004 (HMOs, HHSRS, Deposits, Selective Licensing, Accreditation, Disability Discrimination). Our members are always kept up to date with any legal changes via our online Members Area.


Would just like to reiterate that my comment is not based upon personal use, merely on other conversations regarding the package. You should definitely contact the Southcourt people/Lucy, they will be able to give you more information - especially as it is the only pack of it's type on the market AFAIK.

[Tag EA]

Hi and a huge thanks for the replies.

Our software will be installed on Monday and training on the software for Tuesday & Wednesday, so hopefully will do most of the work for me but still wanting to know the more technical side.

Mr Shed, I have been in touch with Paul and hopefully will catch up again after his holiday, I think some one on one training will be very beneficial

Kim, it's good to hear from a 'real person' and new to the industry (I think) about a company that will help. Have you got a website? Always nice to see what other people are doing.

Lucy, thanks for the link. I think it has been said on the forums that the package is not cheap at £500ish, I don't know whether we're 'ripped off as estate agents but for what it seems to have it seems to be good value. Maybe there will be other opinions!
I have had a look at the link with all the features of the package and there are somethings that will be useful but others that the will be involved in the software package we have purchased. The documents, website and software will be with the vebra system so I suppose the question that I need to ask, is it worth me investing the money?

Just a question to throw out there is that I know agents will charge for late payment letters, references and host of other things, is there an industry standard or is it down to the individual company?

Well I think that's enough now but rest assured you will probably get fed up of my questions over the next month or so! :confused:

Anthony