Residential lettings: Largest agency in Scotland for landlords and tenants in Edinburgh, Glasgow & St Andrews
A persuasive seller, and David’s willingness to go over and above to help his client and take a chance, led him to become the biggest residential letting agency in Scotland.
Starting out
David grew up on the West Coast, near Hamilton. At 16 he started work as a labourer but soon left to join Rank Xerox, and discovered a passion and talent, for sales.
In 1982 he came to Edinburgh and started the estate agency in Leith. It wasn’t a great time for the housing market, which was experiencing a depression.
David picks up the story: “We had one property, a four-bedroom top floor flat for £35,000 which wasn’t selling. The owner rang me up and said could you rent it out for me?”
He explained he didn’t handle rentals – but she said it would be such a help, as she was in London and too far away to do it herself.
“She persuaded me to put an ad for it in the paper and we were inundated with people calling up wanting to rent it.”
Forty years on, that same property, at Warrender Park Terrace, Leith, would set you back over £600,000, and DJ Alexander is now the biggest residential letting agency in Scotland, and one of the largest in the UK.
It started small but government changes to short assured tenancies in 1988 saw the lettings market boom, and so did DJ Alexander’s letting arm.
“That exploded the market,” said David. “A substantial part of the market was the buy-to-let market – people realised it was a good asset and a good investment.”
Friendly and professional
DJ Alexander prides itself on being a warm local face, backed by 40 years’ experience, whether you are buying or selling, letting or renting.
And it’s the friendliness and the people, which make David as passionate about the job now as he was then.
“I have the same enthusiasm that I had when I started out,” he says. “I set out to be the best, not the biggest, but the best. It’s not all been Champagne and hilarity, but every mountain we have faced has become a molehill. The success of the business is the people, who are my colleagues and my friends.
“I’m a people person and this business is all based on people – looking after the landlords and the tenants. I really enjoy meeting my clients.”
Forty years’ experience
David has seen many changes in forty years in lettings and says the market has swung from being driven by landlords, towards the tenants who can expect more stability, better choice and more rights.
“A big change has been in the quality of properties. Back in the early ‘80s renters were seen as the poor relations. Properties were basic, but now the rental market has really top quality properties – the calibre of homes for rent has changed dramatically.
“We have built the business on quality, if I would not live in the property myself we would not let it,” says David.
And there’s good news for the future of rentals too.
“Renting gives you complete flexibility,” David explains. “The cost of buying is huge, and if you end up moving you could end up being out of pocket. Renting means you can move which changes in jobs and circumstances, and live in some amazing places and properties.
“It means you know exactly how much your home is going to cost you every month – and if something goes wrong it’s up to someone else to fix it. It’s not for everyone but it’s definitely no longer seen as the ‘poorer’ option.”
Range of services
DJ Alexander offer a range of services for those looking to rent and those with properties to le – whether it’s just sourcing tenants or taking responsibility for fully managing properties. They can set up leases, collect rent and look after maintenance and emergency repairs on behalf of home owners – and will work to ensure there are minimal gaps between tenants.
They look after properties for landlords across Edinburgh Glasgow and St Andrews and have industry experts to advise on all aspects of the rental market, including the potential rental incomes and keeping you up to date on the ever-changing legislation and compliance.
For more information visit the lettings area of the website here.