How To Start and Run a Residential Letting Agency – Take Your Business Abroad

We are offered a handful of books to review on a regular basis, selecting only those we feel would be of interest or use to you, our readers.  When How to Books came up with a new title called ‘Start and Run a Residential Letting Agency,’ we were instantly interested because we saw this as a potential book that could lead readers towards perhaps finding a way to make their life abroad continue to be viable if they have been hit by the global recession.

We’re aware that many expats are struggling having lost jobs, contracts and commission payments, and that some are looking for new ways to make money abroad.  This book suggested to us that while it’s not the usual title we might select to review, it could be a resource of use to such expats - so we willingly accepted it and decided to read it and see if indeed it would be a good resource for you perhaps.

We were very pleasantly pleased with our decision, because our instincts were right – this is not only a fantastic book that’s well written and exceptionally detailed…it can work as a tool for anyone at home or overseas who’s looking for a new and viable opportunity.  Just think – if you live overseas in a popular tourism or business locale, you could have a wealth of property letting opportunity right under your nose.  All you need is the guidebook to show you how to start and run a residential letting agency…!

The author of the book, Steve Martin, started his own residential letting business in the UK back in 2006.  He started from scratch with no resources available to him and has built a successful business instinctively.  He has used the wealth of his practical experiences – even drawing on mistakes he’d like you to learn from – and has produced the book he really wishes he had had when he began his business.

As we all know, globally-speaking property markets have dwindled and almost died in terms of sales volumes and price appreciation.  However, the residential letting side of most countries’ real estate economies remains buoyant especially in popular tourism hotspots and active business quarters.  This spells opportunity to anyone who fancies themselves as being able to offer the kind of service landlords are crying out for.

‘How to Start and Run a Residential Letting Agency’ is not about going out and buying loads of properties to let, it’s about working with landlords, servicing their requirements, sourcing tenants and managing the ongoing rental of homes – and you can do this at home or abroad.  If you like the business model, it is one you could choose to make your own, looking overseas for a pocket of opportunity, and then basing your relocation around your new opportunity.

The book is an incredibly thorough resource, having assessed it closely we cannot think of an element missing from it – although the author even provides the reader with additional resources and training material they could perhaps benefit from.  The book walks you through the decision-making process – i.e., is this something you could and want to do?  To establishing the business, marketing, finance, staffing, the letting process, finding additional revenue streams and even the legal and accounting side of the business.

One note to mention at this point is that this book bases the legal and accounting information on the British marketplace – this does not transfer directly into other markets abroad.  However, the basics in this book in terms of the processes you’re likely to have to follow should guide you to seek out the correct information you need overseas.

If you don’t like the idea of buying and running a bar on a beachfront, you’re aware that the usual expat fallback of estate agent abroad is no longer viable and yet you want a career that you can enjoy overseas, this is one well worth considering.  You can start from very humble beginnings in terms of financial outlay – and it is a business model that is scalable with almost no limits.  Alternatively, if you’re looking for an income stream at home to build you up the pot you need to emigrate in the future, here’s a business you could not only build but eventually sell on to make yourself an income stream and then a lump sum.

It’s a great idea, it’s a great book and one we’re glad we chose to review.  ‘Start and Run a Residential Letting Agency’ by Steve Martin, (ISBN 978-1-84528-337-7) is available at all good bookstores.  Alternatively you can order direct from How to Books – Tel: 01476 541080 or visit http://www.howtobooks.co.uk.  It’s also for sale from Amazon of course.  Start and Run a Residential Letting Agency (Small Business Start Up)