A career in lettings – exploring the options

The lettings industry is booming, and it’s not about to lose momentum – this is great news for anyone seeking a career in the field.

This rapid growth in the lettings sector has, of course, brought with it a rising number of vacancies in the field. The industry is both exciting and rich in opportunities as both large established companies and smaller estate agencies support a huge number of tenants and landlords.

So, what does it take to become part of this thriving industry? As well as being ambitious and self-motivated, to succeed with a career in lettings you’ll need to excel under pressure, and have excellent communication, administration and organisational skills.

With so many positions available, including trainee and graduate positions, and in so many fields, lettings is a great area to launch a career. With heaps of potential for development, growth and progression, new employees are given the opportunity to learn about the industry from a base level, learning on the job and working their way up.

Still interested? Here are some of the areas you can look at entering if you want to become part of the lettings industry…

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Residential Lettings

Across the country, house prices are continuing to rise, and the demand for rental accommodation is huge. As well as the rise in house prices, stricter regulations on the amount needed for house deposits means that many first-time buyers are having to wait a lot longer to buy a property (the average age of a FTB is now 34) and are instead attracted to the flexibility and affordability of renting.

Requiring individuals who can balance both the interests of the landlord and the tenant, as well as the ability to work well under pressure, working in residential lettings demands great people skills.

For more information about starting a career in this exciting specialism, take a look at our guide to the roles available in residential lettings, or browse our current vacancies.

Property Management

An incredibly diverse sector within the lettings industry, property management incorporates several responsibilities, from customer relationship management to finance and accountability. Where property investors are unable to commit the time to manage their properties themselves, property managers take on this role and handle the daily operations. Working closely with both landlords and contractors, those looking to launch a career in this field need to be excellent at prioritisation with impeccable communication skills and a real ‘can do’ attitude.

If you’re interested in becoming a property manager, check out our current vacancies in the field here or browse the guides below:

Block Management

Usually involving the management of a residential property, a role in block management encompasses many varying tasks, from the implementation of maintenance on the property to collecting service charges and ground rent. Additionally, the role can sometimes involve arranging services within the premises, such as painting and decorating and cleaning. The exact responsibilities will, of course, depend on the specific lease, but to work in block management, you must be comfortable with handling budgets and managing others.

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Renewals and Tenancy Management

Working closely with property managers and lettings teams, a renewals negotiator will deal with both the landlord and the tenant when a tenancy is close to termination. The end goal is to not only keep both parties happy, but to negotiate the renewal at the best possible price. The role also involves paperwork- ensuring that everything is completed within the set time frames.
Tenancy managers deal with a few stages of the renewal process. Once all the paperwork is accurate and complete, they must make sure the property is in good order for the tenant by organising inventories and all the relevant checks.
As with most jobs within lettings, high quality service is important to this role, as well as excellent communication skills.

Private Rented Sector and Build to Rent

The private rented sector (PRS) and build to rent sector (BTR) are quickly becoming massive areas of the property industry, aiming to shift the somewhat poor reputations left by private landlords, and provide high quality service to tenants. Targeting young professional tenants, PRS schemes aim to develop a real community spirit within their properties. The intention of this approach is that tenants are perfectly content, and want to stay put in their property and community for as long as possible. This, of course, means exceptional customer service, so if you’re looking to get into PRS or BTR, people skills are an absolute must.

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Asset / Portfolio Management

Put simply, asset or portfolio management is the management of a group of properties which are held in one single ownership. Working in this role means striving to achieve the maximum benefit for the property owners, and dealing with all aspects of the portfolio including administration, finance and renovation. The degree of involvement within the role will ultimately depend on the specific properties in question, but the goal will always be the same – to reduce the costs and increase the income.

Property Personnel work with some of the sector’s biggest employers in the constantly growing lettings industry.

If you want to become a part of it, but don’t know where to start, contact us today. Whether you are looking for a new role within lettings, or to make an entire career move, we can help you find the next rung on your career ladder.