Step-by-Step Landlords Guide
For the majority of landlords the main objective when letting a property is getting the best possible rental return. If you are or want to be a landlord, Properties on the Market can help, whether you are a first time landlord, an experienced landlord, property guru or portfolio manager.
Our step by step guide to letting your property is a great start!
Step 1. Arrange a valuation
Properties on the Market and our property valuation experts carry out thousands of valuations every month giving us intimate and unparalleled knowledge of property values in your area.
You will also be provided with comparable prices and additional suggestions to increase the chances of renting your property out in the best possible way.
Step 2. Selecting an agent or property manager
If you are looking to self-manage your property investments, you may not need an agent or property manager, however experienced landlords will always have a good understanding of the services offered by local letting, property or independent agents.
It is a very competitive market so when choosing a letting agent consider things such as their opening hours, when they will be available to conduct viewings, their support network and whether or not they have a high street presence. There are a number of ways agents can assist you so also take into consideration what kind of marketing your property will receive and what kind of checks the agent carries out on the tenants.
Each of these points is critical when looking to achieve the maximum rental value for your residential property or commercial property, it’s an investment after all so you need to know it’s being well looked after. A good agent will always check or organise your government required Energy Performance Certificate (EPC) on your behalf if you are taking advantage of a fully managed service.
If you have any questions about selecting a property agent speak to a member of the Properties on the Market team today.
Step 3. Considering a short let?
Short term lets can be extremely lucrative. In the right location yields can be far better, and can be enhanced by aspects such as the location of the property, the style of furnishings, time of the year and how you advertise the property.
In some cases high returns on your property may be available and rents can be paid in advance thereby improving cash flow. There may also be flexibility of commitments, in the right location or with the right contracts minimum void periods, and with the right management team, high quality corporate tenants.
To find out more about short term lettings and Properties on the Markets solutions contact a member of the team today.
Step 4. Benefits of Corporate Services
Properties on the Market Corporate Services provide assistance to those looking for corporate or executive accommodation anywhere in the UK. If you are looking for executive property services for delegates, contractors, employees, clients and everything in between, contact us today.
Step 5. Consider Property Management
Property Management can be the key to reaping maximum rental returns on your property. Many tenants insist on renting managed properties and are often prepared to pay a premium for this.
Step 6. Presenting your property
First impressions count and the presentation of your property is critical to a successful let.
Consider addressing any DIY jobs you have been meaning to get done, add a fresh coat of paint where necessary and try to declutter to make rooms appear larger.
Step 7. Preparing your property for tenancy
Before you let your property for the first time you must obtain a professional and comprehensive inventory. This will set out the condition and contents of the property.
Step 8. Marketing your property
To find your perfect tenant you need to give your property maximum exposure across a wide range of media.
Step 9. Accompanied viewings
Accompanied viewings mean we can use our knowledge to help let your property.
Our office is open 9am-6pm Monday to Friday and 9am-5pm on Saturday.
Step 10. Receiving an offer
As soon as an offer is received we will contact you to communicate full details of the offer along with any special conditions to help you decide whether or not to accept.
Step 11. Offer agreed
Once you accept an offer we will do the following, regardless of whether your property is managed:
- Collect references from the tenants
- Arrange signing of the Tenancy Agreement
- Collect moving-in payment (rent + deposit)
We can also, subject to a fee, get your property ready for move-in and:
- Carry out check-in and inventory
- Organise a Gas Safety Inspection and Portable Appliance test
- Arrange professional cleaning of your property
For your added peace of mind, where applicable we will hold the deposit as a stakeholder and register this with a deposit protection scheme, resulting in a faster and more efficient deposit release process at the end of the tenancy.
Step 12. Completion
Upon completion, keys will be released to the inventory clerk or the tenant on moving-in day.
For managed properties, we will provide the tenant with contact details of their dedicated Property Manager.