{"id":1230,"date":"2024-08-16T00:00:00","date_gmt":"2024-08-16T00:00:00","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/knowledge\/articles\/how-to-start-a-property-management-company\/"},"modified":"2025-10-01T11:05:51","modified_gmt":"2025-10-01T11:05:51","slug":"how-to-start-a-property-management-company","status":"publish","type":"knowledge","link":"https:\/\/www.simplybusiness.co.uk\/knowledge\/starting-out\/how-to-start-a-property-management-company\/","title":{"rendered":"How to set up a property management company"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">With more people renting than ever before, starting a property management company could be a rewarding and fast-paced career choice. Think it could be your calling, but aren\u2019t sure where to start? We\u2019ve put together a guide to help.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We cover the following:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><a href=\"#what-does-a-property-management-company-do\">What does a property management company do?<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"#key-skills-to-start-a-property-management-company\">Key skills to start a property management company&nbsp;<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"#property-management-qualifications\">Property management qualifications<\/a>&nbsp;<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"#property-management-courses\">Property management courses<\/a>&nbsp;<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"#decide-your-niche\">Decide your niche<\/a>&nbsp;<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"#property-management-software\">Property management software<\/a>&nbsp;<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"#what-are-your-legal-requirements-and-responsibilities\">What are your legal requirements and responsibilities?<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"#do-i-need-insurance-for-my-property-management-company\">Do you need insurance for my property management company?<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-setting-up-a-property-management-company-in-the-uk-nbsp\"><strong>Setting up a property management company in the UK&nbsp;<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019re probably wondering what exactly you\u2019d be doing as a property management agent, what skills and qualifications you might need, what costs to budget for, and what legal requirements you\u2019ll face.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-does-a-property-management-company-do\"><strong>What does a property management company do?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019ll be responsible for handling the upkeep and repairs of rented properties.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There\u2019s a lot of variety here, ranging from routine maintenance to cosmetic niggles to urgent issues that need dealing with urgently. A broken fridge, a loose carpet that\u2019s a trip hazard, mouldy bathroom grouting \u2013 you\u2019re the one who makes the problem go away.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019ll assess what needs doing and arrange for a tradesperson to carry out the work. Then you\u2019ll make sure the work gets carried out within a reasonable timeframe, to a reasonable quality, and to a budget, keeping all parties informed throughout.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You might also visit tenants while they\u2019re at the property to check that they\u2019re looking after it in line with their tenancy agreement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some property management companies <a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/tenants\/letting-agent-fees-for-landlords\/\" data-type=\"knowledge\" data-id=\"1477\" >act as a letting agent<\/a> too, meaning you take on finding and assessing tenants and drawing up tenancy contracts. As you can guess, this quickly becomes a lot more complicated (and expensive) on both sides of the table.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"key-skills-to-start-a-property-management-company\"><strong>Key skills to start a property management company<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">people skills \u2013&nbsp;you\u2019ll spend most of your day dealing with people, so a love of finding solutions and being a good communicator is essential. The dynamic can be challenging, as you might find yourself with unhappy renters on one side and a landlord who\u2019s reluctant to spend money on the other&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">flexibility and adaptability \u2013 you should enjoy the unpredictable nature of the work. You never know what\u2019s round the corner \u2013 one day might be completely silent, the next day you might be dealing with multiple issues raised by tenants in a panic. So you\u2019ll need to be comfortable with uncertainty, flexible by nature, and good at juggling priorities<br><\/li>\n\n\n\n<li class=\"wp-block-list-item\">organisation and multitasking \u2013 you\u2019ll often have a lot of plates in the air. Waiting for <a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/freelance\/quote-template-for-contractors\/\" data-type=\"knowledge\" data-id=\"1216\" >quotes from tradespeople<\/a>, chasing up repairs, keeping track of progress, and communicating with everyone who needs to know what\u2019s going on&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"property-management-qualifications\"><strong>Property management qualifications<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Some property managers have a university degree in real estate. It\u2019s by no means a requirement though. In fact, you\u2019re not legally obliged to complete any formal training to set up a property management company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But you will want to make sure you\u2019re prepared for the challenge ahead. There are lots of elements that depend on you having industry expertise, from legal to financial to health and safety.<\/p>\n\n\n\n<div id=\"nba-body-001\">\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">If you have the time and the opportunity, a great way to learn the ropes and get up to speed as a property management agent is to work as an admin assistant for a lettings agency. They often recruit for temps for short-term cover, so it\u2019s worth asking around locally.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"property-management-courses\"><strong>Property management courses<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">There are hundreds to choose from, including lightweight online-only courses for less than \u00a350 to in-depth, in-person courses spanning several weeks.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A safe bet is to do a course with an accredited body, such as the Association of Residential Letting Agents (ARLA). Here\u2019s ARLA\u2019s list of <a href=\"https:\/\/www.arla.co.uk\/training-qualifications\/lettings.aspx\" rel=\"noopener noreferrer\" target=\"_blank\">property management training and qualifications<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And <a href=\"https:\/\/www.futurelearn.com\/courses\/pathways-to-property\" rel=\"noopener noreferrer\" target=\"_blank\">FutureLearn<\/a> has a free property management course in partnership with the University of Reading and Reading Real Estate Foundation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a first step, you might want to see if any courses are available that focus on the local area or niche where you\u2019re planning to do business. Training from experts in your target market is more likely to include tailored advice that you can put into practice yourself.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"decide-your-niche\"><strong>Decide your niche&nbsp;<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">There\u2019s a huge range of rental properties that need to be managed \u2013 from low end to high end, from cities to coastal retreats.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Different landlords and tenants have very different needs when it comes to property management, so there are lots of factors to consider here, and you\u2019ll want to pursue a niche that interests you.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, do you:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">like the idea of getting luxury rental properties in the south of France ready for their next round of summer guests? Or are you passionate about helping students deal with the struggles they face in budget flatshares?<\/li>\n\n\n\n<li class=\"wp-block-list-item\">want to work with solo homeowners, or property developers who lease out entire apartment blocks?<\/li>\n\n\n\n<li class=\"wp-block-list-item\">want to partner up with an estate agent, or would you rather work with property owners directly?<\/li>\n\n\n\n<li class=\"wp-block-list-item\">want to focus on a neighbourhood you know well already \u2013 or challenge yourself by venturing elsewhere?<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Once you\u2019ve landed on a niche that interests you, it\u2019s essential to check that there\u2019s enough demand for a new company in this area. Research your competitors \u2013 how do they work, what do they charge? And research your potential clients too \u2013 do they already use a property management company? Are they happy with the service or open to change?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To give yourself the best shot at success, you\u2019ll want to pick a particular focus and optimise your business offering to meet the needs of those clients and tenants square in the middle.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"property-management-software\">Property management software<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">To make your job easier, you might want to invest in property management software. There\u2019s a whole host of options out there depending on what you need.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Accounting and storing property details and tenancy documents are just a few of the features you can expect from this type of software.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is particularly useful for managing a large portfolio of clients and properties.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019ve covered five of the best pieces of <a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/tenants\/best-property-management-software-for-landlords\/\" data-type=\"knowledge\" data-id=\"1315\" >property management software<\/a>, including Arthur, Landlord Vision, and Property Hawk.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-are-your-legal-requirements-and-responsibilities\"><strong>What are your legal requirements and responsibilities?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Anyone who\u2019s engaged in property management work is required by law to belong to a government-approved redress scheme.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cRedress\u201d is just another way of saying \u201cputting things right\u201d. Redress schemes exist to resolve complaints between leaseholders and freeholders who are unhappy with the service they\u2019ve received from a property manager.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are two independent bodies that offer redress schemes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">The <a href=\"http:\/\/www.tpos.co.uk\/\" rel=\"noopener noreferrer\" target=\"_blank\">Property Ombudsman<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\">The <a href=\"https:\/\/www.theprs.co.uk\/\" rel=\"noopener noreferrer\" target=\"_blank\">Property Redress Scheme<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">To qualify for a property redress scheme, you\u2019ll need to have <a href=\"https:\/\/www.simplybusiness.co.uk\/business-insurance\/professional-indemnity-insurance\/\">professional indemnity insurance<\/a> in place.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s the most important thing to be aware of. At the moment there\u2019s no overarching legal regulation of private sector property management in the UK, unlike in the public sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019re not legally required to belong to a trade association either, but some property managing agents choose to join one anyway. It helps keep you up to date on best practice and gives your clients confidence that you will do a good job for them and for their tenants. Two to look into are the <a href=\"https:\/\/www.ukaa.org.uk\/\" rel=\"noopener noreferrer\" target=\"_blank\">United Kingdom Apartment Association (UKAA)<\/a> and the <a href=\"https:\/\/arma.org.uk\/\" rel=\"noopener noreferrer\" target=\"_blank\">Association of Residential Managing Agents (ARMA)<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And bear in mind, you\u2019ll also have all the usual responsibilities that come along with being self-employed, such as <a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-tax\/what-is-bookkeeping\/\" data-type=\"knowledge\" data-id=\"1259\" >bookkeeping<\/a> and <a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-tax\/self-employed-tax-changes\/\" data-type=\"knowledge\" data-id=\"1514\" >submitting tax returns<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"do-i-need-insurance-for-my-property-management-company\"><strong>Do I need insurance for my property management company?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Property management companies in the UK private sector are required to join a redress scheme, and you can\u2019t join a redress scheme unless you have <a href=\"https:\/\/www.simplybusiness.co.uk\/business-insurance\/professional-indemnity-insurance\/\">professional indemnity insurance<\/a>. Professional indemnity insurance covers you against claims due to bad advice and professional mistakes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can include other things in your <a href=\"https:\/\/www.simplybusiness.co.uk\/business-insurance\/\" data-type=\"page\" data-id=\"470\" >business insurance<\/a> policy too, from <a href=\"https:\/\/www.simplybusiness.co.uk\/business-insurance\/personal-accident-insurance\/\">personal accident insurance<\/a> to <a href=\"https:\/\/www.simplybusiness.co.uk\/business-insurance\/public-liability-insurance\/\" data-type=\"page\" data-id=\"1719\" >public liability insurance<\/a>. There are lots of covers available to give you peace of mind that you\u2019re protected against the unexpected, whichever form it takes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We can help you explore your options and <a href=\"https:\/\/www.simplybusiness.co.uk\/business-insurance\/property-management-insurance\/\">get a quote for property management insurance<\/a> in just a few minutes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-more-useful-guides\">More useful guides<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/landlord-regulation\/rules-for-landlords-2026\/\" data-type=\"knowledge\" data-id=\"1066\" >How to become a landlord<\/a>: a guide to renting out a property in the UK<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/starting-out\/how-to-start-a-recruitment-agency-in-the-uk\/\" data-type=\"knowledge\" data-id=\"1116\" >How to start a recruitment agency<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/freelance\/how-to-become-a-project-manager\/\" data-type=\"knowledge\" data-id=\"1228\" >How to become a project manager<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/hospitality\/starting-a-cake-business-from-home-guide\/\" data-type=\"knowledge\" data-id=\"1539\" >How to start a cake business from home<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/starting-out\/how-to-start-a-crafting-business\/\" data-type=\"knowledge\" data-id=\"1078\" >How to start a craft business<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Do you have an unanswered question about setting up a property management company? Ask us in the comments below.<\/strong><\/p>\n\n\n\n<div id=\"nba-body-end\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Read our guide if you&#8217;re thinking about setting up a property management company.<\/p>\n","protected":false},"author":3,"featured_media":24531,"comment_status":"open","ping_status":"closed","template":"","meta":{"sb_hreflang":"","sb_hreflang_url":"","disable_breadcrumbs":false,"sb_breadcrumbs":[],"sb_reviewed_by":"","sb_review_date":"","sb_enable_content_gating":true,"footnotes":""},"categories":[106,339],"hidden-category":[],"coauthors":[23],"class_list":["post-1230","knowledge","type-knowledge","status-publish","has-post-thumbnail","hentry","category-property-maintenance","category-starting-out"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to start a property management company in the UK<\/title>\n<meta name=\"description\" content=\"Thinking about setting up a new property management company? 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We\u2019ve answered nine key questions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/starting-out\/how-to-start-a-property-management-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Simply Business UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/simplybusiness\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-01T11:05:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/06\/huge-rise-in-buy-to-let-property-companies.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"How to set up a property management company\" \/>\n<meta name=\"twitter:site\" content=\"@simplybusiness\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"7 minutes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data2\" content=\"Zach Hayward-Jones\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.simplybusiness.co.uk\/knowledge\/starting-out\/how-to-start-a-property-management-company\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.simplybusiness.co.uk\/knowledge\/starting-out\/how-to-start-a-property-management-company\/\"},\"author\":{\"@type\":\"Person\",\"name\":\"Zach Hayward-Jones\",\"description\":\"Zach Hayward-Jones is a Copywriter at Simply Business, with seven years of writing experience across entertainment, insurance, and financial services. 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