Landlord Step By Step Guide
When choosing an agent to value your property, it’s important to consider the reputation and experience of the lettings agent, along with its fees.
Opting for a lettings agent with a strong reputation and years of relevant residential lettings experience appeals to tenants and provides them with peace of mind.
Our free comprehensive property valuations consider all relevant factors so that we can accurately advise our landlords on the appropriate rent to charge your tenants.
Beacons will look at all aspects which may impact the rate you are able to charge for rent, including:
- The type of tenant the property may attract (families, couples, corporate)
- Existing fixtures and furnishings included in the property (oven, fridge etc).
- Local market trends and demand for the property type in the local area
- Proximity to transport links and local amenities
- State of repair and décor
We provide a dedicated service so that you can market your property in the minimum time possible with the maximum return on your investment.
Before making a decision, consider the amount of involvement that you would like to have with your tenants and property, or can fit in, with your existing commitments.
Depending on whether day to day maintenance, monthly rent collection and other responsibilities are possible with your current lifestyle, we can help you find the level of service that suits you.
Beacons offers three levels of service to give you the best fit for your personal requirements and needs:
- Bronze - Letting only
- Silver - Letting and Rent Processing
- Gold - Letting and Full Management
Leading the Way: Professional corporate tenants typically choose properties that are fully managed by lettings agents. This provides them with the reassurance that their maintenance needs are being taken care of by dedicated and reliable service providers.
It’s a good idea before you invite potential tenants to view your property to keep it clean, free of clutter and decorated in neutral colours to attract a wider group of customers.
If there is also any maintenance required to the interior or exterior of the house, then this is best completed at this stage.
Safety is a must and there are several checks and certificates that are required, including:
- A Gas Safety Certificate for any gas appliances in the property
- A full wiring check is advisable every five years as well as PAT testing any appliances you are leaving on an annual basis
- Comply with the Furniture and Furnishings (Fire Safety) amendment Regulations 1993 if the flat or house will contain any furnishings
- Carry out a Fire Safety Risk assessment. We would always advise that the property includes smoke alarms and a carbon monoxide alarm.
We can organise all of this for you as part of your managed letting service agreement.
Leading the Way: We remain up to date with all of the UK's legal safety standards to keep you informed and your tenants safe.
Tenancy Deposit Scheme - As part of the Housing Act 2004, the Government introduced the tenancy deposit protection for all Assured Shorthold Tenancies (ASTs) in England and Wales.
An Energy Performance Certificate (EPC) is required by law when a property is offered for sale or rent. It gives information on the property's energy efficiency to the homeowners. An EPC is valid for 10 years.
As part of our Fully Managed service, Beacons will organise your EPC for you carried out by a qualified individual to provide you will complete peace of mind.
Getting your property in front of tenants and finding the right ones can be a long, expensive and stressful experience when you do not have a letting agent on hand to help.
At Beacons, we put our experience and know-how into high profile advertising and online exposure to spread the word about your property and help you find a tenant that is an ideal match for your requirements.
We organise your property details and can include professional photos of the interior and exterior of the property, floor plans, a location map and an Energy Performance Certificate. This information is then marketed across multiple platforms including our website and online portals.
We can accompany all prospective tenants on viewings on your behalf to save you time. Of course, you can host some or all of the viewings yourself if you would prefer this option.
It’s always important to tell your prospective tenants all of the wonderful and positive points about the house, its neighbours and local amenities.
Leading the Way
Before inviting tenants to view the property, make sure you give your lettings agent information about your ideal tenant and the positive attributes that they may contain. Are you happy, for example, to house tenants who have pets?
As soon as an offer has been made, we will send you all tenant details including background information, the length of tenancy they are looking for and any other relevant factors.
It’s our aim to always try to get you the best possible rental price available. We will raise any possible problems with you during this time before continuing.
When it comes to agreeing an offer, it’s common for a negotiation phase to occur where aspects of the tenancy agreement such as income considerations, rent rate and tenant references are discussed and agreed before signing on the dotted line. Beacons is happy to handle all stages of this process for you.
Leading the Way: Once happy and agreed, your lettings agent will prepare the tenancy agreement document, which outlines the agreed responsibilities of both the landlord and tenants. Both parties need to take the time to read this fully to ensure they understand the information contained before signing.
Beacons will collect tenant references and where advisable carry out credit checks. We will complete this comprehensive referencing process, once the tenants have signed and paid the referencing and administration fees.
We will send you a copy of the referencing documents and information once completed for your review and reference.
An inventory is a detailed list agreed and signed by both parties itemising the contents and condition of the property at the time of the tenant moving in. The Landlord pays for the Inventory and 'Check in' and the tenant pays at the end to have an Inventory and 'Check out' the tenant will pay for this service at the before moving in.
When the rental property is ready for the tenancy to begin, we can organise the preparation an inventory and condition report through and independent inventory company.
These documents and the information included in them become crucial if money needs to be deducted from the tenant's deposit at the end of the tenancy, and in settling any dispute that may potentially arise.
Once the tenant has paid the deposit in full, then the tenant has secured the property and it is ready for them to move into on a date agreed by both parties.
This deposit is kept on behalf of the landlord in the event of any possible damage to the property. This can be checked against the inventory report when the tenancy comes to an end.
The Housing Act 2004 sets this out and protects all parties. In accordance with the law, the deposit must now be held within a government-approved scheme on an Assured Shorthold Tenancy. This scheme benefits both landlords and tenants as it provides a quick and easy way to resolve disputes, without having to involve the courts.
Once you have confirmed that you are happy for us to go ahead, we can collect this deposit as part of the total moving-in payment, which includes rent, to protect your investment.
We will then log the deposit with The Deposit Protection Service, for full details you can visit their website at: http://www.depositprotection.com
Tenants move in
Your property has now been successfully let!
Going forward, it’s advised that agreed visits are made throughout the year to ensure the property is all in working order. If repairs need to be made to the property, then naturally, the number of visits may need to increase to carry out checks or work.
Once the inventory report has been produced and read through, the tenants will sign the document and confirm their agreement.
The keys will then be released and the tenant will have access to these on the day they move in, which will be agreed with you in advance.
Leading the way: Offer information and advice on the property itself to build your relationship with the tenant. We can provide this for you on your behalf as part of our Gold - Letting and Full Management service.
For more information on any aspect of your role as landlord or the property process, please contact us on 01252 316111 or http://www.beaconshome.com/contact-us/ and speak to one of our friendly team.