As an agent, tell me what you want...

[amybeecham]

Hello!

My name is Amy and I am currently in the process of opening my own managing agency, following ten years in the public sector managing property for local councils and the Home Office. I intend to specialise in LHA as this is something I have a great deal of 'insider knowledge' of. I am hoping to be open for business by the beginning of October.

I have spent the last year putting the business together and in the last few months I have attended various networking events and trade shows and feedback tells me landlords desperately need assistance with LHA claims (tenants on LHA is almost inevitable in the current climate)yet they are not getting it from the Local Authority. I am seeing a lot of interest in LHA consultancy services in addition to the management and let only services I will be offering.

As this is quite a niche market I would be interested in what kind of fees landlords would expect to pay for services such as dealing with rent arrears, assessments of claims, ensuring claims are paid to the landlord directly etc.

Any feedback given will be greatly received!

Many thanks

Amy

[Dottie]

I have to say that my agents deal efficiently and effectively with all those things you mention, within their normal full management fee (which varies between agents, but is within accepted norms.) Some properties they have an easier ride than others, but they frequently have to seriously earn their fee and I do wonder if they make anything much on some of them sometimes.

[theartfullodger]

Hello!

My name is Amy and I am currently in the process of opening my own managing agency, following ten years in the public sector managing property for local councils and the Home Office. I intend to specialise in LHA as ...............

Welcome Amy & best of luck...

How much of that experience was residential property?? How much on ASTs or Licenses??

I'm sure you appreciate that the law for private landlords is different, sometimes very different, from Public sector (eg HMO only applies to private tenancies, barking I know; tenancy deposits - which if handled incorrectly can invalidate eviction processes - only apply to private tenancies... etc etc etc etc etc etc...)

Are you gaining expertise in UC as regards private sector (if so how..)?? Hope you like coping with fast-changing rule-changes & confused government, local authorities, tenants & landlords...

[amybeecham]

Thankyou for the replies. I am aware of the task I am taking on (!) however the issue of LHA is not going to go away, indeed the LHA market is growing rapidly all the time, the reply from theartfulloger only makes me think a service like my company will be offering is desperately needed. If other agencies are not prepared to tap into this lucrative market then that leaves a bigger slice of the pie for me!

This is not an idea that has been dreamed up over night, thousands of hours have been spent preparing for the business to launch and a huge amount of research has been done. I am aware of the differences of managing in the private sector in comparison to the public sector and have managed a wide range of tenancies including AST's and licences and also have a great deal of experience managing HMO's and properties housing vulnerable tenants.

I don't claim to know it all (far from it!) but I do feel I have a lot of invaluable knowledge already to start me off. I am working closely with a number of established agencies while I find my feet and have also purchased an up to date 'business in a box' to help me familiarise myself with aspects of the business I am unsure of!

Any other advice given will be greatly received.

Amy