Ensure you obtain an accurate valuation for your property. If you get the rental value right then this should help minimise long void periods, Remember that what you want is the property fully occupied for as many months as possible because long void periods reduce the amount of income you will receive and increase your costs as a landlord for example council tax. What you need is the maximum rent you can reasonable get for your property.
Let Us Guide You
Through The Process
LANDLORD LETTINGS GUIDE - THE BASIC STEPS
Choose Your Letting Agent
Choosing a letting agent is personal to you. You need to consider whether you get along with the agent, can you see yourself having a good relationship with them. Do you trust them with your money in many instances the value of your asset is well over £100,000 and therefore choosing the correct agent is vital to keeping your property in the best possible condition, Make sure they offer services at a reasonable price, talk to them and feel confident that they are going to look after your property with care. Make sure that your agent is going to manage your property not just leave it once the tenant goes in.
Check what services are extra ‘add ons’ and what is included in the price. Don’t be afraid to ask as many questions as you feel necessary for you to make the right decision as to which agent you choose. Important: Make sure the Agent is registered with an agency recognised professional body this way you get peace of mind that you have an independent body to complain to if you don’t get the service you should.
Permissions, Insurances And Legal Requirements
Ensure you have all the relevant permissions from your building society or bank. Make sure you have appropriate buildings and contents insurance in place. If you are a leaseholder then you may need permission from the head lease holder. You will also need to provide a current gas safety certificate, an EPC and an electrical certificate (This is good practice and it covers you if you have any faulty wiring etc.). All of this can be arranged with us. Please speak to us if you require further information.
Getting Your Property Ready to Let
You need to make sure that you present your home to show its full potential. Ensure that all jobs even the small ones are completed. If you are offering your property fully furnished you will need to consider that the furniture complies with the furniture and furnishings (fire safety) Regulations 1988 (amended 1989 and 1993). You will require a gas safety certificate and we recommend an electric check to comply with the safety regulations. (Click here to see the summary of the safety regulations.) You will also be required to have a valid Energy Performance Certificate (EPC) before your property can be advertised. The certificate is valid for 10 years and can be used for multiple tenancies throughout the 10 years. Please contact us if you require help with any of this.
Getting your property seen in the most places will help you let the property at the right price. You need to make sure you advise the letting agent the types of person you are looking for whether you will accept smokers, pets, children etc. so that the right person can be found. We will visit your property take photographs
and write up descriptions to help promote your property to as many future tenants as possible looking to view your property.
Always insist that your agent carry out accompanied viewings. This is so important as you need feedback from potential tenants, this helps the agent to review the marketing strategy and highlight any areas for improvement. The agent will give advice and promote your property positively to potential tenants. The agent should deal with any queries and feedback to you on your property for future viewings and ultimately find a tenant. If an offer is received your agent should contact you with the details. If an offer is agreed then they will do the following on your instruction.
Once an agreeable offer has been agreed between the landlord and tenants the agent should:
- Arrange to get references
- Draw up a tenancy agreement
- Arrange an inventory
- Collect and register the deposit and collect the first month’s rent along with a completed standing order form
- Inform the utility services etc. with the new tenant information – gas, electricity, council tax and water
Good advice to all landlords is to ensure that the property is professionally cleaned to an excellent standard. Ensure the garden is in a manageable condition for the tenants to keep. Redirect any post if you previously occupied the property. Make sure you give us the instruction manuals of all appliances so we can include this in our Tenants guide. This should help with reducing the need to use contractors when the tenant doesn’t know how to work something. You need to make sure you cancel any direct debits related to services at the property.
If we are managing the property on your behalf then we will require three sets of keys two for the tenant and a spare set for us. You will be asked to provide standard information on the property so that we can manage the tenancy without having to get in touch with you over every little query. We will also require window keys, alarm codes etc.
The tenant will need important contacts and telephone numbers if you manage it or we will provide this information with our details if we manage it on your behalf.