10 step guide to letting your property
The decision to let your property can be a tough one – you may worry about finding the right tenant, or if you’ll make your money back. Our number one priority is ensuring that you’re prepared and your property is ready to let.
Making letting simple in 10 steps
1) Figure out how much to charge for rent
The first step is to find out what your property is currently worth (note that this may be different from what you bought it for). The amount of rent you charge will be a percentage of your property’s market value and is usually between 0.8% – 1.1% of the value per month. You can use our helpful instant online valuation calculator to work out how much you should be charging.
2) Furnished or unfurnished?
This decision is left for the landlord to decide, however both options carry their own set of benefits. Some tenants may move in faster to a property that is already furnished though may be more short term, whilst others may stay longer in a property that they’ve furnished themselves. The most essential thing is that any furniture you leave adheres to legal fire and safety regulations and you have an inventory prepared to ensure no confusion of who owns what once the tenancy ends!
3) Choosing an agent
4) Make your property presentable
We recommend that you have your property professionally cleaned before accepting viewings. Nobody wants to see a dirty stain across the living room carpet, or grease stains on the hobs. Neutral colours are preferable on walls and curtains, as they present a ‘blank canvas’ for tenants.
5) Finding a tenant
We offer a tenant find service to help landlords locate tenants to rent their properties. We make sure to find the right tenant for you and your property and take over the responsibility of laborious viewings. We do all the paperwork and all you need to do is maintain your duties as landlord and collect the rent!
6) Sorting out an inventory
We offer property management services which allow us to process inventories for you. We have an independent, professional inventory clerk from the AIIC (Association of Independent Inventory Clerks) prepare an inventory for the protection of both landlord and tenant. This details each room and their contents in detail, which we will then get the tenant to double check before moving in.
7) Handling the deposit
It is required by law that a tenant’s deposit is held within one of three schemes. As members of the Deposit Protection Service, we will ensure that the deposit it handled correctly and deal with any disputes that arise concerning its repayment.
8) The tenancy agreement
We will draft this for you, overseen by a qualified solicitor to protect the rights of each party.
9) Letting your property
So you’ve got a tenant and they’ve moved in, great! We offer great flexibility in the letting of your property through our property management packages, from managing everything yourself, to letting us handle everything for you through our fully managed service.
10) Collect the rent
Our rent collection service includes tenant find, which means we not only find your tenant and handle the paperwork, but also collect your monthly rent for you without you having to lift a finger! We can tailor this to your requirements, so you can continue the maintenance and management if you wish and let us do the collecting on your behalf.
For more information about the process of selling your property, contact our experts today on 01489 584298.