The property management or letting sector has been booming in the UK over the last decade, which has opened up a number of franchise opportunities for people.
July 11, 2006 (Press Release) --
The property management or letting sector has been booming in the UK over the last decade, which has opened up a number of franchise opportunities for people.
Since the advent of the buy-to-let market in 1996, renting out property has grown from strength to strength.
Investment landlords are increasingly attracted to the long-term return in the residential rental market, as residential property prices in the UK continue to grow and people have more income, enabling higher rent charges to be made.
The increase in house prices, which reached over 20 per cent in 2004 and is still going strong this year at 5.6 per cent according to recent government figures, is making it more difficult for people to afford to buy a house, as many could not make mortgage repayments.
More house owners are realising that letting out their house to gain extra income is a very attractive alternative to selling.
In addition, the population today is far more mobile and so people need to rent because of short-term employment contracts and training courses.
Therefore, the buy-to-let sector has steadily risen. Recent figures from Paragon Mortgages revealed that buy-to-let investors now account for 14 per cent of all mortgages handled by mortgage advisers, compared to six per cent in 2001 and ten per cent in December 2004.
Many property management franchises have developed in this time and provide a service focussed on customer care and quality of service.
They offer potential franchisees who do not know much about property a way to enter the sector and take advantage of the increasing demand for buy-to-let houses and apartments.
Once franchisees have agreed to run a property management agency in their local area, they will receive expert training on how to run the business successfully and what all the industry terms mean.
Every aspect of the agency should be covered including company set-up, sales and marketing methods, operating systems, viewings and organising appraisals and home reports.
There should be ongoing support from people in the franchise with great experience and most, if not all, of the materials required will be provided.
Many UK letting franchisers are members of the Association of Residential Letting Agents, which show customers their credibility, particularly as the government are clamping down on non-regulated and non-professional lettings companies.
However, to be successful in this industry, franchisees need to become self-sufficient, as this is important to be able to keep up with day-to-day developments and be positive even if properties take a long time to sell.
Copyright Adfero Ltd 2006
http://www.franchisedirect.com
Since the advent of the buy-to-let market in 1996, renting out property has grown from strength to strength.
Investment landlords are increasingly attracted to the long-term return in the residential rental market, as residential property prices in the UK continue to grow and people have more income, enabling higher rent charges to be made.
The increase in house prices, which reached over 20 per cent in 2004 and is still going strong this year at 5.6 per cent according to recent government figures, is making it more difficult for people to afford to buy a house, as many could not make mortgage repayments.
More house owners are realising that letting out their house to gain extra income is a very attractive alternative to selling.
In addition, the population today is far more mobile and so people need to rent because of short-term employment contracts and training courses.
Therefore, the buy-to-let sector has steadily risen. Recent figures from Paragon Mortgages revealed that buy-to-let investors now account for 14 per cent of all mortgages handled by mortgage advisers, compared to six per cent in 2001 and ten per cent in December 2004.
Many property management franchises have developed in this time and provide a service focussed on customer care and quality of service.
They offer potential franchisees who do not know much about property a way to enter the sector and take advantage of the increasing demand for buy-to-let houses and apartments.
Once franchisees have agreed to run a property management agency in their local area, they will receive expert training on how to run the business successfully and what all the industry terms mean.
Every aspect of the agency should be covered including company set-up, sales and marketing methods, operating systems, viewings and organising appraisals and home reports.
There should be ongoing support from people in the franchise with great experience and most, if not all, of the materials required will be provided.
Many UK letting franchisers are members of the Association of Residential Letting Agents, which show customers their credibility, particularly as the government are clamping down on non-regulated and non-professional lettings companies.
However, to be successful in this industry, franchisees need to become self-sufficient, as this is important to be able to keep up with day-to-day developments and be positive even if properties take a long time to sell.
Copyright Adfero Ltd 2006
http://www.franchisedirect.com
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