April 2016, Worthing:
The Lettings Partnership: Client Accounting - A Letting Agent’s Biggest Headache!
by Worthing PR and Marketing Agency Media Word Waves
Many letting agents are telling us how much of a “headache, a chore and time consuming process it is keeping track of processing, allocating monies and remaining compliant with legislation, but is one of those jobs that has to be done.”
The founder of The Letting Partnership (TLP) was once a successful letting agent for many years and has experienced the ‘pain’ of client accounting at first hand. She has since developed and runs a highly successful and award winning business that takes away all those time consuming tasks.
As specialists in the Letting Industry, The Letting Partnership work with a large and growing number of Letting Agencies across the UK from small independents to large franchises. One such client is Peter Greatorex – Director of The Apartment Company. Peter originally contacted the Letting Partnership when his property sales were on a downturn and was looking at introducing lettings to his portfolio. Peter had no experience nor did his staff of running a Lettings Agency.
The Letting Partnership were able to help with the accounting side and dealing with client money but also with all their tenancy agreements and legal documents that they needed to be compliant with current legislation when running a letting agency. Seven years on, The Apartment Company now have in excess of 100 properties within their portfolio with a substantial and sustainable income.
Peter Greatorex commented “The Letting Partnership have been supporting our lettings business for the last 7 years and enabled us to grow it into a highly profitable part of our business. I certainly wouldn’t have been able to achieve what we have without their knowledge, guidance and support.”
Jennifer Markham – Director of The Letting Partnership explained how it works in more detail. “We will process and allocate monies received into the client bank account using the agent’s own software. Then we’ll pay the landlords, contractors and deposit protection providers. The agents’ fees and commissions are paid over by us into their business bank account. A report of all transactions is sent to the agent every month. With the knowledge that their client accounting is in safe hands the agent can concentrate on what they’re good at - growing the business further.”
The Letting Partnership offer a complete lettings service where they can even help with tenant referencing, tenancy agreements, Section Notices and additionally providing advice and information through their helpline for any adverse queries that may come up.
To find out more about The Letting Partnership and their additional services please visit www.thelettingpartnership.co.uk
Worthing PR and Marketing