This is the action-item companion to our step-by-step guide to starting a UK letting agency. Tick each box and you're ready to take your first tenant.
Company & Bank Setup (1–5)
- Limited company registered at Companies House (one form, £12 online). Pick a name that doesn't clash with an existing local letting agent.
- Business bank account opened — Starling Business, Tide, Lloyds, or HSBC all have fee-free options for new businesses.
- Separate client account opened — this is where you'll hold landlord rent and tenant deposits. Must be a designated client account, separate from your trading account.
- Accountancy software signed up — Xero is the most common; FreeAgent and QuickBooks are alternatives. LettingGuru integrates natively with Xero.
- VAT registered (if applicable) — only mandatory if you expect to turn over £90,000+ in 12 months. Voluntary registration sometimes worth it for the reclaimable input VAT.
Regulator Registration (6–10)
- Redress scheme membership — The Property Ombudsman OR Property Redress Scheme. Mandatory by law.
- Client Money Protection (CMP) scheme — Client Money Protect, Money Shield, RICS, or Propertymark. Mandatory by law.
- HMRC anti-money-laundering supervision — if you'll handle transactions over €10,000.
- ICO data protection registration — £40–£60/year, mandatory for processing personal data.
- Professional body membership (recommended, optional) — ARLA Propertymark, NAEA, or SAFEagent badges build landlord trust but aren't legally required.
For the deeper dive on what each one covers, see our letting agency compliance checklist.
Insurance (11–13)
- Professional indemnity insurance — usually £300–£500/year for a new agency. Minimum cover ~£250,000.
- Public liability insurance — usually £150–£300/year. Minimum cover £1m.
- Cyber insurance (recommended) — £200–£400/year given how much tenant data you'll be handling.
Software Stack (14–18)
- Property management CRM — your single source of truth for properties, tenants, landlords, viewings, offers, tenancies. LettingGuru covers this and everything below in one subscription.
- Tenant onboarding + referencing — digital onboarding wizard, ID checks, employer/landlord references, AML. See our tenant onboarding guide.
- Maintenance tracker — tenant reports → contractor quote → landlord approval → completion. See our maintenance workflow.
- Compliance reminders — gas safety, EPC, EICR, Right to Rent renewal alerts.
- Document signing — for AST tenancy agreements + landlord agreements. Most modern CRMs include this; otherwise DocuSign or Adobe Sign.
For the comparison, see best letting agent software for new agencies and choosing letting agent software.
Portal Listings (19–20)
- Rightmove account set up — non-negotiable in the UK. ~95% market share for tenant property searches.
- OnTheMarket account set up — cheaper than Rightmove, but smaller audience. Most agencies list on both.
LettingGuru's letting workflow ships with native feed integrations for both, so you create the property once and it pushes to both portals automatically.
Deposit Protection (21–22)
- Custodial scheme registered — Deposit Protection Service (DPS) is the default custodial option. Free to use, scheme holds the deposit.
- Insured scheme registered (optional) — MyDeposits or TDS. You hold the deposit, scheme insures it. Costs ~£10–£20 per deposit but lets you earn modest interest. See our scheme comparison.
Templates & Processes (23–27)
- Assured Shorthold Tenancy (AST) template — Renters' Rights Act-compliant. LettingGuru ships with one out of the box; otherwise PainSmith, Property Hawk, or a local lawyer.
- Landlord letting agreement template — covers your service tier, fees, termination clauses. Branded with your company name.
- Contractor agreement template — including CIS deduction clauses if applicable.
- Right to Rent check process documented — what document types you accept, how you record the check, how you flag time-limited rights. See our Right to Rent guide.
- AML check process documented — when you trigger one (tenant, vendor, every party to a sale), how you record it, what disposition triggers a Suspicious Activity Report. See our AML compliance guide.
Now You're Ready
Tick all 27 and you can legally trade as a UK letting agent. Realistic timeline: 2–4 weeks if you push, longer if you wait on regulator approvals.
Want a hand getting the software part sorted? Book a 30-minute demo of LettingGuru and we'll walk through how new agencies stand up the whole operation on day one. Pricing is on our pricing page — from £399/month with every feature included.