Home-Based lettings agent for landlords

Private landlords with one or a few properties, often those who live far away or lack time to find tenants themselves.

A fee per tenancy, either a flat amount or a share of the first month's rent, with optional extras such as inventories, rent collection or renewals.

• Clear communication with landlords and tenants
• Organised with paperwork and deadlines
• Knowing local rents and areas
• Confidence in sales and negotiation

• Letting agents in England generally need to belong to a government-approved redress scheme, so check which one applies to you
• If you hold client money such as rent or deposits, check the rules on client money protection
• Scotland has a letting agent register and Wales has a licensing system (Rent Smart Wales), so check the rules where you work
• Check whether you need to register with HMRC for anti-money laundering supervision
• Tenant Fees Act limits on what you can charge tenants, and the new Renters' Rights rules, so check the latest position
• Professional indemnity and public liability insurance, and ICO registration for handling personal data
• Check whether your landlord, lender or council allows you to run a business from home

Startup costs are typically around £1,500 to £6,000, depending on your insurance, redress scheme or registration costs, marketing and software. Costs vary with the services you offer and where you work.

Monthly revenue is typically around £800 to £4,000, depending on how many landlords you work for, the services you offer and local rents. Tenant-find and let-only work is the focus of this model.

Check which government-approved redress scheme applies in England, and the register or licensing rules in Scotland and Wales. Also check client money protection, HMRC anti-money laundering supervision, Tenant Fees Act limits, Renters' Rights rules, insurance and ICO registration.