Know How Guide - Letting a property
Step 1: Choosing the right agent
Choosing the right letting agent is crucial to ensuring that your property is let at the maximum rental value to suitable tenants and is managed in a professional and efficient manner. Consider their opening hours, when they are available to conduct viewings, high street presence, length of time it takes to rent a property out and the quality of their marketing are just a few things to take into consideration.
Managing your property is not just about finding a tenant and moving them in; your agent must also meet all current legal requirements and be fully conversant in up to date laws and regulations. Check if the agent you are going to instruct knows the legal requirements around Energy Performance Certificates (EPC) and Gas Safety Checks. Do they know the law in terms of problem tenants and legal procedures for issuing paperwork such as sections 8 and 21.
Here at Edwards, we are not only fully up to date with all statutory legislation, monitoring this on a constant basis, but also offer a tightly managed service every step of the way, giving you, the landlord, peace of mind that your property is being marketed proactively and managed in the most professional manner.
Step 2: Which package would I like?
Choosing the correct package is based entirely on the level of responsibility and time that a landlord is willing to give. Some landlords want to do everything, others want no involvement at all. We provide the following landlords packages to accommodate every type of landlord
TENANT FIND ONLY
A service suited to the more experienced Landlord who wishes to manage their own property matters, repairs etc. on a daily basis. We offer a tenant find only package where we market the property, conduct viewings and organise appropriate credit checks and all appropriate paperwork through to moving the tenant in.
A full and comprehensive package tailored for Landlords who do not wish to be directly involved in managing their property. The property is managed from check in through to check out and everything is done on your behalf so you can kick back and relax knowing your rental property is in safe and secure hands with Edwards Rentals.
Step 3: Marketing & presentation
First impressions really do count when it comes to presentation of your property so it is imperative that your property in a clean, tidy and well maintained condition. Consider addressing any DIY jobs you have been meaning to undertake. Add a fresh coat of paint where necessary, try to de-clutter to make rooms appear larger and clean the carpets, Little things such as these can make the difference between achieving the maximum rent or not, and the length of time the property is on the market. Get this right and your property will rent with minimum vacant gaps between tenancies.
To find the perfect tenant for your property you need to ensure that your property has maximum exposure across a wide range of audiences. We have extensive marketing coverage, which includes internet advertising on various websites including the main web portal Rightmove, window displays in both our Heaton and Bromley Cross offices along with local press advertising and a comprehensive mailing list of potential tenants
Step 4: Accompanied viewings
With a dedicated viewer, available to show prospective tenants around your property, we can maximise viewing opportunities by offering out of hours and weekend viewings. Accompanied viewings means that our expert can be on hand to answer any queries and secure feedback from any prospective tenants.
Step 5: Accepting an offer
Once an offer has been received from a potential tenant we will contact you to discuss the application in full along with any specific requirements. We are here to help you decide whether or not to accept the offer and to discuss the application process with you in detail.
Further to you accepting an offer we carry out a full credit check on all intended, adult occupiers (and guarantors if applicable) and obtain confirmation of their right to rent in the UK.
Following on from a successful credit check, once again we shall discuss the application with you further to ensure that you are 100% happy in proceeding with the tenancy before confirming this with the tenant.
Step 6: Getting the paperwork right
If your property has a mortgage secured against it then you must inform your lender of your intention to let your property and obtain formal consent. Other factors to consider are ensuring that you have appropriate landlordâ€™s insurance, rent guarantee and, of course, you must ensure that all tax related matters are in order. Nobody likes paying the taxman but it has to be done!
There are a variety of legal certificates which need to be obtained such as an Energy Performance Certificate (EPC), a Gas Safety Certificate (GSC) PAT tests and smoke detectors to name a few. We would be happy to provide you with guidance on this.
It is important to get a comprehensive and professional Check In Report is completed. This provides a thorough record of the condition of the property and its contents â€“ something that is key for subsequent inspections and at check out. Depending on the level of service this is something which we can complete on your behalf.
Step 7: Checking in
We now need to get your property ready for the tenants to check in. It is important to ensure that all paperwork is completed before checking the tenant into the property and handing over the keys.
- The independently prepared Check In Report is commissioned/prepared, along with Gas Safety Check and Portable Appliance Test.
- We would be happy to assist you in organising any other works which you may require to be addressed ready for Check In.
- A tenancy agreement is drawn up â€“ the agreement itself needs to be fully compliant with all current regulations.
- The security Bond and the first rental payment is taken.
- It is useful to leave at the property a handbook of information such as rubbish and recycling days, where meters and stopcocks are located, appliance instruction manuals etc; this can avoid a number of queries and questions.
- Utility providers such as water, gas and electricity suppliers are informed that the tenant has moved in.
- It is a legal requirement that the Bond is registered with one of the Government approved deposit schemes once the tenant has moved in. Edwards use the Deposit Protection Service.
After all these formalities are completed, keys are handed over to the tenant.