In recent months the number of letting agencies has been on the increase. It is not surprising as property sales have been at the low end and there have been more accidental landlords entering the market.
However, be warned that being a letting agent is not another ‘get rich quick scheme’.
One of the leading Franchises has recently been terminating franchises because the franchise owners haven’t been playing by the rules.
The license of Rochdale franchisee has been terminated by Martin & Co for allegedly failing to make timely rental payments to landlord clients.
It happened when Martin & Co managing director Ian Wilson and a team of colleagues, visited the franchisee on October 1, which is when his license was terminated. It was claimed the franchisee was taking longer than the seven working days which is the standard time the company requires franchisees to pay clients.
Before this was the license termination of the network’s Chester franchisee, who Wilson alleges is responsible for the removal of client funds.
So, in short, if you are thinking of becoming a letting agent or are thinking becoming a franchise then make sure that you know what your responsibilities will involve!
