LETTING A PROPERTY THROUGH US
A Step by Step Guide to Letting your Home
Being a landlord requires more responsibility than just offering a property to let. Before you open up the doors, there are important checks and measures to make sure your property and tenants are protected. There are also certain steps you need to take when preparing a property for let. This section includes guidance on the full letting process and how to prepare your home for new tenants.
LET'S GO ...
Gain expert advice
To start the process a representative will visit your property at your convenience to advise you on the current market value and to fully explain the letting process. Before our valuation appointment, we will be doing our homework by compiling comparable rental details for your consideration. We will advise you about any issues that may affect the rental value and of action you can take to maximise the achievable rent.
Meeting the fundamental needs of your tenants
Prepare your property
One of the top priorities is making sure that your property looks presentable and comes across as desirable. This not only makes the property more appealing to potential tenants, it also guarantees them a more pleasant tenancy.
Energy Performance Certificate
Get an EPC
All rental properties require an EPC. The energy efficiency and environmental impact of your property will be rated on a scale from A-G (A being the most efficient and G the least efficient). The EPC should have a minimum rating of “E” and be available for prospective tenants to inspect when looking at the property details, therefore this inspection will need to take place before the property goes on to the market.
Reaching out to tenants
Marketing your Property
We reach a large audience through the strength and quality of our marketing and using comprehensive floor plans and professional photography, we take time and effort to represent your property in its best possible light. When you list your property with us, your property details are immediately circulated to all prospective tenants that are registered on our extensive database, as well as corporate contacts, relocation companies and the top property portals.
finding the right tenant for your property
Tenant Selection and Vetting
Our experience tells us that the “Right Tenant” is the key to any successful let, and for this reason we employ the most stringent referencing procedure, carried out by independent experts.
ENSURING THE SAFETY OF YOUR TENANTS
Safety requirements and regulations
Landlords are legally responsible for the safety of their tenants and have a “common law” responsibility to ensure that a property is safe and free from health hazards. We will ensure that you are given accurate and up to date advice regarding the relevant safety requirements and regulations and we are able to arrange all of the necessary inspections and certificates on your behalf.
THE EXCITING BIT ...
Consent to let and the tenancy agreement
It may be necessary to obtain consent to let the property from a superior landlord or from your mortgage lender and we are able to apply for this consent on your behalf.
We will draw up the Tenancy Agreement, which is exceptionally comprehensive, covers most eventualities and will include any special requirements that you may have.
ENSURING YOU'RE PROTECTED
Peace of Mind
We are fully regulated by NAEA (the National Association of Estate Agents), ARLA (the Association of Residential Letting Agents) and are members of The Property Ombudsman and the TDS (the Tenancy Deposit Scheme). Our membership of these associations gives our clients the peace of mind that we are working to the highest standards in the Industry, and as members of the ARLA Client Money Protection Scheme, our client’s funds are fully protected.
FINALISING YOUR RENTAL
Inventory & Completion
It is vital that there is a detailed record of the contents and condition of the property at the start of the tenancy and we recommend that a professional inventory is prepared by an independent inventory company. They will then check this inventory at the end of the tenancy and report on any changes or damage to the property.
Before the tenant moves into the property, we’ll collect the moving in payment (The rent and security deposit) This will be registered with the Tenancy Deposit Scheme.
FREQUENTLY ASKED QUESTIONS
Letting a House
We’ve compiled a list of the most common questions when letting a property. For further expert advice, talk to us.
Why should I invest in a buy-to-let property?
Investing in a buy-to-let property provides the opportunity for long-term investment and growth. Property prices will likely increase in the long-term, which means you could make a reasonable profit when you come to sell the property. Renting out your property to tenants who will pay your mortgage for you and provide some extra income is the best way to make an investment.
How do buy-to-let mortgages work?
Buy-to-let mortgage fees and interest rates are also usually higher than ordinary mortgages. Most buy-to-let mortgages are interest-only, meaning you pay the interest each month. You will then pay the interest on the loan as it accrues every month, generally from the proceeds of the rent they collect. The full amount of the mortgage is paid at the end of an agreed term.
How much is the deposit for a buy-to-let mortgage?
The minimum deposit for a buy-to-let mortgage can vary between 20-40%; however, it is usually 25% of the property’s value.
Where can I get a buy-to-let mortgage?
It is a good idea to use price comparison websites and look for the most suitable buy-to-let mortgage for you. Most of the big banks and some specialist lenders offer buy-to-let mortgages. As with ordinary mortgages, you will have more mortgage deals available if you have a good credit history.
How much can I borrow for a buy-to-let mortgage?
The maximum amount you can borrow depends on the amount of rental income you expect to receive, the deposit, and your personal circumstances. Lenders typically need the rental income to be 25–30% higher than your mortgage payment. It is a good idea to find out how much similar local properties are rented for to get an idea of how much your rent will be.
How do I choose a buy-to-let property?
Choosing a buy-to-let property depends on your budget and the tenants you are expecting to live in it. It is a good idea to research your chosen area and find a property that is close to necessities and is also in a reasonable attractive location. Properties near to good transport links and amenities are likely to get the best rents and always be occupied. You should also first check the condition of the property, and how much maintenance it requires. If you are interested in more than one property, you could consider building a property portfolio. This means purchasing a number of buy-to-let investment opportunities with the aim of generating a significant return on investment.
Do I need a gas safety certificate for my property?
Ensure that all gas appliances are maintained in good order and pay for an annual service from someone who is licenced to legally work on gas. You must give the tenant a copy of the gas safety certificate to prove that whoever is checking the gas appliances is licenced.
Do I need to check the electrics in my property?
As a landlord, you must make sure the electrical system and all appliances in the property are safe to use.
Is my property fire safe?
Your local fire service can provide a free home check to advise you on the measures you’ll need to take.
It is the landlords responsibility to fit and test smoke alarms and carbon monoxide alarms. Not checking these can have serious consequences.
If the rental property is furnished, all furnishings must comply with fire and furnishing regulations, Any soft furnishings must have a ‘carelessness causes fire’ label.
What is in a tenancy agreement?
You need to provide tenants with a tenancy agreement when they decide to rent your property. This should include information on who will be living there, how much the rent they’ll pay is and the conditions they are expected to meet. The document should also include how the rent should be paid, the start and end dates of the tenancy. It should also provide an outline of the bills for which the tenant is responsible.
Do I need to use a letting agent?
Letting agents take on responsibilities such as sourcing a prospective tenant, rent collection and full management. Having a letting agent can be timesaving and sometimes leave you with minor maintenance. This is particularly beneficial if you don’t have time to fulfil duties such as finding tenants. They offer professional help which can particularly benefit new landlords or landlords with numerous properties.
START YOUR LETTING JOURNEY
Have a property to rent?
If you have a property to rent, arrange a market appraisal with your local regulated expert agent.