14 Steps to Letting your Property
1. LETTINGS VALUATION
You should always look to Let your property at the best possible price and in the shortest possible time. Gaining an accurate and realistic appraisal is an integral part of achieving that desired outcome. Our experienced team take pride in their market knowledge. They'll ensure your property is marketed at a value that will enable you not only to Let, but at the maximum price possible.
In our comprehensive free market appraisal our staff are trained to advise you, and during the appointment we will:
- View the property and its credentials
- Provide a valuation for rent in the market
- Talk you through the whole Letting process
- Run through Safety aspects of renting the property
- Explain the legal side to tenancy agreements and Lettings
- Advise of any work or improvements that could be carried out to achieve an optimal rental figure
- Explain our fees and the services we offer.
Call us on 01202 070 007 for a free market appraisal or complete online property valuation form.
2. INSTRUCTING US AS YOUR AGENT
- We will confirm how your property will be marketed including To Let boards, online advertising on over 40 portals, and direct marketing with our local corporate network.
- We agree on how you want to be contacted and how often
- You let us know what time frame you are working towards
- We arrange a time for photographs to be taken, and EPC (if needed)
- We will send you a copy of our terms and conditions to sign
- Agree on a marketing price strategy
- Arrange a suitable time for viewings directly with You or via Tenants
- Arrange for us to hold a set of keys to the property.
3. PRESENTING YOUR PROPERTY TO LET
First Impressions can be so important in achieving a Let. To give yourself the best possible opportunity of Letting your property you should consider the following:
- Step 1. Unclutter. Removing any un-necessary furniture or personal items will make the rooms appear larger. It will also make it easier for people to imagine their own furniture in place.
- Step 2. Repair/Redecorate. A clean, well-maintained property will set the standard for how you expect the property to be looked after during the tenancy.
- Step 3. Clean. Perhaps the most important step of all. If the property is cleaned throughout this again sets a standard for how the property is to be maintained for the duration of the tenancy. We would recommend the property is professionally cleaned throughout (to include carpets and the cooker). You can then stipulate that the Tenant has the same carried out at the end of the tenancy (receipts will need to be provided).
- Step 4. Garden clearance. (if applicable) During the tenancy (unless otherwise agreed) it will be the Tenant's responsibility to maintain the garden. It is therefore advisable that the garden is tended to before the start of the tenancy. The Tenant then has a responsibility to leave it in the same condition when vacating .
- Step 5. Clear/Remove. It is important to remove any items of value or sentimental worth.
4. VIEWINGS
- Our staff preview your property before it goes live.
- All viewings are confirmed with you prior to appointment.
- Viewings are conducted only with pre-qualified applicants.
- Our staff always accompany every visitor.
- We aim to give insightful and constructive feedback within 24 hours.
5. RECEIVING AN OFFER
Once an offer is received our team will notify you and confirm the following:
- Offer amount
- How long the Tenants propose to stay in the property
- What date they wish to move in
- If they require furnished or unfurnished
- What the Tenant's occupation and current housing situation is
- Confirm whether the Tenant has children or pets.
We will ensure that any special conditions will be stated in writing and we will qualify the prospective Tenant's position and check their ability to proceed. Armed with all of the above, we trust you will be in a better position to decide whether to accept the offer.
6. OFFER ACCEPTED
Once you have accepted an offer we will write to all parties to confirm the agreed price. We will then ask you to confirm the availability date. This date will be given to the Tenants and will act as a target date for moving in. Once an offer has been accepted the Tenant pays a non-refundable reservation fee which is required in order for us to take the property off the market and start full referencing on the Tenants.
7. TENANT REFERENCING
With your Let now agreed, due diligence commences. Your prospective Tenants will now undergo appropriate reference checks to ensure they are suitable applicants for your property. BIG Property uses the UK's most comprehensive Tenant Referencing Service to give you a clear result, alongside all the information to help you be confident in your decision to Let:
- The Income Report provides confirmation of multiple sources of income, bonuses (guaranteed or non-guaranteed), savings, employment contract dates, and a personal declaration as to whether their employer finds the applicant honest, reliable, and trustworthy.
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The Previous Tenancy report provides confirmation of the rent they paid, the condition they left the property in, any arrears, and whether the Landlord would re-Let to the applicant.
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A credit check – this will allow you to check that the Tenants have a good history of paying bills
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- The Tenants' bank details – including bank name, account number and sort code in the UK.
- Carry out Right to Rent checks on each Tenant to confirm they have the right to rent in the UK.
If the Tenants are finding it difficult to provide references or fail a credit check due to recent arrival in the country or starting a new job, then they may be able to provide a Guarantor who will insure the Tenants against a default in rental payments.
If the tenancy is a Company Let, further checks will made of the Company. Please see our Company Relocation page for more information on this.
Once the referencing is complete a copy of the final report will be sent to you for your approval.
8. TENANCY AGREEMENTS
Once the prospective Tenant's referencing is agreed by the Landlord, we will start the process of drawing up the tenancy agreement. All BIG Property tenancy agreements are prepared by our industry's recognised solicitors, in line with the Association of Residential Lettings agents (ARLA) and the most up to date legislations as of 2018.
Once contracts have been drawn up a draft copy will be sent to you for your consideration before sending a copy to the Tenants to sign and proceed with the move in. As your appointed Agent we will ensure the contract is signed in the correct legal form.
At this time you will be asked to provide safety certificates for the property. More information on this is included in our page Landlord's legal requirements around safety.
The Tenant will then be asked to provide the full balance consisting of the first month's rent and deposit.
9. THE DEPOSIT
As part of the Let the Tenant is required to pay the Agent a tenancy deposit before the start of the tenancy. A tenancy deposit is a sum of money paid by the Tenant as a security in the event of accidental or malicious breach of the tenancy terms. At BIG Property this consists of 6-8 weeks' worth of the rental figure agreed.
BIG Property will hold the deposit as Stakeholder and register it with the Tenancy Deposit Scheme.
More information about deposits can be found on our Tenancy Deposits page.
10. INVENTORY
On the day before moving in, BIG Property will instruct an Independent Inventory company to carry out a comprehensive Inventory report on the property. The Inventory is one of the most important documents when Letting a property. Every deposit taken by an Agent must be registered with an approved scheme, giving the Tenants the right to dispute any deductions. Therefore as a landlord you must protect their asset by creating proof of the initial and end condition of the property.
Our Inventory company prepares reports ready for the start of all tenancies, regardless of the size of the property, whether it is furnished or unfurnished. All Inventory reports are retained on file for ease of access for both the Landlord and Tenant to view and to allow frequent reviews or updates as required.
11. MOVE IN
Once the Inventory has been completed the Tenants can move in. We will provide your Tenants with keys, fobs, access codes/swipe cards etc. where appropriate. Your first month's rent will arrive in your bank account shortly afterwards.
12. TENANT'S UTILITIES AND COUNCIL TAX REGISTRATION
We ensure that your Tenants are responsible for the utilities and council tax from day one. This protects you from unpaid bills being left in your name. We will inform the current energy and water suppliers of a property that the new Tenants have moved in and your Tenants receive a welcome call and email to inform them who their current utility providers are. Our excellent utilities change over team will also advise them of their options in their new home free of charge.
13. MANAGED LANDLORDS
We will inform your Tenants that we will be their direct contact throughout the duration of the tenancy. Tenants will be provided with a ‘Welcome Pack' which will include information such as an emergency out of hours telephone number, a standing order form to direct rent payments to our account, a copy of the property Inventory, and prescribed sheets showing where and when the deposit has been registered as required by law.
For more information please go to the property management page.
14. TENANT FIND LANDLORDS
We will inform the Tenants that you will be their direct contact for all post move in tenancy queries. Tenants will be provided with a ‘Welcome Letter' which will clearly detail your preferred contact numbers, email addresses, and your residential address. We will, where appropriate, provide the Tenant with a standing order form in order that they can make payments direct to your account, a copy of the property Inventory, and prescribed sheets showing where and when the deposit has been registered as required by law.
For our Tenant Find Landlord we will also handle the re-negotiations of the renewal contract and remind you when your gas safety and EPC certificates are due.
Email: info@big-property.co.uk