by Alex Bradnum
Is running your own letting agency business something you’ve always dreamed of? Or are you simply looking for a new path in life? Whatever the reason, starting your own letting agency could be the right choice for you. Here are a few of the top reasons for starting a letting agency business:
1. You Want to Change Careers
Are you stuck in a career you hate? Then perhaps it’s time to get out and throw yourself into a new endeavor. You may wish to start your own business instead of seeking further employment, in which case starting your own letting agency business is a fine choice, particularly if you’re passionate about property and development.
2. You’re Worried About Redundancy
Perhaps it’s not that you want to leave your current job, but rather you feel you’ll soon be faced with redundancy and left with no choice but to leave. The thought of job hunting may leave you with clammy palms, so why not take matters into your own hands? Whether you leave your job through choice or redundancy, starting a letting agency could be just the solution you need.
3. You Want to Work for Yourself
Maybe it’s neither of the above, and you’ve actually always dreamed of working for yourself. Well, there’s no better time than now. With both the job market and the housing market in the pits, there’s never been a better time to forge your own path and enter the world of letting agencies.
4. The Recessions Means More People are Renting
Since 1990, the number of privately rented homes has doubled. And now, stricter mortgage lending policies mean young people are finding it harder than ever before to get their feet on the property ladder – leaving them no choice but to rent. Many young people expect to have to rent for at least five years in order to save enough money for a deposit, and many others are forgoing the idea of home-ownership altogether.
5. Letting Agents are in Demand
Due to the rising number of people renting, there is also a rising need for more letting agents. A good letting agent is hard to come by – something most landlords know well – so if you step into the arena and make your mark on the letting world, landlords will likely come flocking to you.
6. There Will Always Be People Renting Properties
Perhaps the most important consideration of all is that there will always be people looking to rent. Whether the housing market rises or falls, whether people choose to buy their homes or not… there will always be more people renting. Whether it’s student, new graduates, or simply people who have decided to rent long-term (of whom there are a lot), you will never be short of business, particularly if you do a top-notch job that brings the landlords to you.
If you’re interested in starting your own business, a letting agency is probably one of the safest bets you can make.
Alex Bradnum is the marketing director at Property Franchise and is also a young entrepreneur with two well established growing businesses. He is passionate about new start-ups and loves to read, write and do anything relating to business and franchise.