EVERYTHING YOU NEED TO KNOW ABOUT WORKING IN RESIDENTIAL LETTINGS

If you’re looking for a career that will provide progression and development in an exciting and ever-evolving field, Residential Lettings is an industry to consider.

Why the Residential Lettings industry?

The lettings industry is undoubtedly booming. Over the last decade or so, there has been a significant shift from a nation of people aspiring to own a house to a new ‘generation rent’, as more and more people opt to rent their property rather than buy. According to data produced by Savills for the British Property Federation, the majority of Londoners are predicted to be renting their homes by 2025.

A combination of rising house prices, increasingly stricter regulations and larger deposits are keeping people off the property ladder for longer than ever before, as once first-time buyers are now attracted to the flexibility that comes with renting.

This shift in attitude has inevitably resulted in a mass of opportunities in the residential lettings sector, as agencies across the country are needed more than ever to support the increasing numbers of landlords and tenants in the ever-expanding market.

What can you do in Residential Lettings?

Residential Lettings is a great sector to launch a career in, with so many different positions available across a number of fields. There are plenty of opportunities for graduates and trainees too, so candidates can work their way up through the ranks.

If you’re thinking about making the move into the residential lettings sector, here are some roles that will be open to you as you progress:

Lettings Negotiator:

Arguably the first job that comes to mind when considering a career in lettings, the lettings negotiator takes responsibility for all aspects of letting a property, from preparing tenancy agreements to setting up viewings and negotiating rents. To be successful in the residential lettings sector, above all, you’ll need to be great with people. You will also need to be confident, driven and committed, and comfortable working in a fast-paced environment.

Senior Lettings Negotiator:

A natural progression from a lettings negotiator, a senior lettings negotiator will be expected to increase sales performance levels on a consistent basis. Daily tasks will include attending valuations and negotiating rents with landlords to ensure the best interests of both the tenant and the landlord alike are achieved. In this role, you will have the opportunity to continuously improve which should enable you to progress to become a lettings manager. Communication skills and a target-driven attitude will take you far in the lettings business!

Lettings Manager:

It goes without saying that to progress to a lettings manager you will have to have a fair bit of experience in the industry. You will be responsible for managing a team of lettings
negotiators where your main goal is to increase turnover and profitability of the department whilst ensuring everything is running smoothly. This can involve a whole range of tasks, from setting targets to upholding good relationships with landlords, holding weekly meetings and dealing with any training. There are lots of qualities that you’ll need to make a good lettings manager, from being a great and positive leader to being passionate with a real desire to succeed.

What skills do you need to work in Residential Lettings?

Any job in residential lettings will require you to balance both the interests of the landlord and the tenant, so being a good communicator is vital, as well as the ability to work well under pressure. Aside from being a good ‘people person’, it’ll help if you’re organised with skills in IT, negotiation and marketing. All that being said, the beauty of working in lettings is that it’s an industry full of opportunity, in which you don’t necessarily need experience to get your foot on the first rung of the ladder.

If you want to be part of this thriving industry, rich in opportunities, then take a look at our current vacancies, or read about the many options that are available to you in the lettings industry.