Whether it’s a second home or a ‘buy-to-let’, there are steps we take to ensure that renting out your asset runs as smoothly as possible. When we start the letting process with you, it’s important to keep these following steps in mind.
1. Market research
Before we advertise your property, we will review market data and understand how long properties have stayed on the market in your local patch, allowing you to get the best price for your rental property.
2. Do a background check on your tenants
To be confident that the tenant is right for you, running background checks is essential. This will ensure the tenants have the correct ‘Right to Rent’ status as well as appropriate references, so you get full clarity on who will be living in your property.
By completing an up-to-date inventory of your property, this will give you extra security after tenant checkouts… should it come to damage assessment and potential legal recourse.
4. Tenant boundaries
Is your prospective tenant aware all of your important boundaries? Whether it is acceptable noise levels and sub-letting, or care of furnishings and any decorating, we will communicate about the points that are key to you and make sure they are captured in your agreement.
5. Security deposits
A security deposit is essential and you shouldn’t lease your property without it. The deposit covers for losses and can be used when tenants fail to pay their rent. The payment in most cases is a month’s rent.
6. Encourage written communication
The secret to a happy and harmonious relationship with tenants is often communication. Encouraging written communication is a useful record – both for your benefit and that of your tenant. It will also help resolve issues amicably when either party has a point they need to refer to. Should you wish to take a step back, we offer a comprehensive, fully managed service. We would handle all day to day communications and management issues for you.
7. Always provide notice
Complications with properties are not uncommon. Tenants should always be informed of work that needs to be done at the earliest opportunity – even if there is no specific date in mind.
8. Talk to an insurance provider
If you are leasing out your property for the first time, be sure to talk to an insurance provider. Though it’s not compulsory, landlord insurance is beneficial as it can include many features. Such as accidental cover, financial protection against unpaid rent and building insurance to protect the brick and mortar of your property.