Landlords Guide
If you are a landlord who is looking to let your property for the first time or simply need to refresh your memory, this step-by-step guide will run through the key steps of the process.
1. Market Appraisal
The letting process will start with a market appraisal. You will be informed of the current value as well as the services that are offered, the associated fees and, most importantly, learn about current legislation that all landlords must meet.
During our market appraisals, we will always carry out a detailed tour around the property and let you have our recommendations in the event we consider any improvements are required. Recommendations can range from redecorating, replacing certain items of furniture or simply arranging a professional deep clean prior to marketing the property.
2. Signing up
To sign up with us, a set of terms and conditions will need to be completed and signed by all legal owners.
Upon instruction we will require all legal owners to provide us with a passport copy and proof of ownership (we can assist with this if needed).
A valid EPC will also need to be in place for when marketing begins.
3. Marketing
Before marketing officially commences, professional photography will be arranged. We go the extra mile and ensure a floor plan and video tour are also included. A detailed description will be drawn up and the property will go then ‘live’ on the web portals.
All enquiries will be dealt with by us. We utilise our internal database to generate additional interest. Other marketing channels also include digital newsletters and social media ensuring the property is accessible to a wider audience.
We ensure that all viewings are accompanied and will always make ourselves available.
4. Accepting an offer
When an offer is put forward to you, normally the applicant has paid a holding fee signalling their commitment.
Offer details will include the offer amount, proposed start date, contract length, special conditions and personal details about the applicant such as employment status, income and previous tenancies.
We will act as the intermediary for both parties and ensure all details are clear to reduce the prospect of any misunderstanding later down the line.
If you agree to the applicants offer, the referencing process will begin. You are under no obligation to accept an offer and, if an agreement cannot be reached, we will continue your search for another tenant.
5. Referencing and paperwork
Independent referencing of each tenant will take place and the referencing company will verify their employment status, obtain a landlord reference and carry out full credit checks.
In the background, we will collect photo I.D, the last three months bank statements and proof of address from each tenant.
We will also carry out Right to Rent checks in line with current legislation.
At this stage, we will also confirm with you whether you need us to arrange any additional services. We have a designated section in our terms and conditions confirming all additional services. If you would like a copy, please get in touch
6. Tenancy agreement and final balance
Once the referencing process is completed, we will draw up the Assured Shorthold Tenancy Agreement and arrange for it to be signed by all parties.
The final balance will also be requested prior to the tenancy commencing. Tenants are to pay the first months rent in advance and a five-week security deposit and cleared funds must be received before keys are handed over.
7. Move in date
On the day of move in, we will arrange for the tenants to collect keys and provide them with a welcome letter. This confirms who will be managing the property. If you decide to manage the property yourself, we will include your contact and bank details. The tenants will also be informed who the utility providers are so they can set up their accounts.
This guide has been drawn up to provide an overview of the basics of the letting process. Our terms and conditions provide more information regarding the process, our services and current legislation. If you are looking to let your property, please feel free to contact us.