Full rent collection and admin for landlords

Landlords who want a hands-off service, owners of small blocks and people letting out an inherited or second property.

A percentage of the rent collected or a set monthly fee per property, plus charges for set-up, tenancy renewals and extra services.

• Strong bookkeeping and money handling
• Confident dealing with tenants, including difficult conversations
• Good knowledge of letting paperwork and processes
• Reliable systems and record keeping

• Client money protection: check whether you must join a scheme and hold rent in a separate client account
• Check whether you must belong to a redress scheme or register as a letting agent, as rules differ between England, Scotland, Wales and Northern Ireland
• Anti-money laundering supervision and ICO registration: check what applies to you
• Professional indemnity and public liability insurance
• You may become the first point of contact for tenants, so be clear in your contracts what is the landlord's responsibility
• Income may be slow to build while you win your first properties

Startup costs are typically around £1,000 to £5,000, depending on your software, insurance and set-up needs. These are estimates, so get quotes for accounting tools and professional cover before you take on clients.

Monthly revenue is typically around £800 to £4,000, depending on how many properties you manage. Income may be slow to build while you win your first clients, so plan your cash flow accordingly.

Check whether you must join a client money protection scheme, hold rent in a separate client account, join a redress scheme or register as a letting agent, as rules differ across the UK. Also check anti-money laundering supervision, ICO registration and insurance.