Guide to Letting Property

Whether you’re a novice property investor or growing your buy-to-let portfolio, it’s always good to remind yourself of the property letting process before deciding to rent out a property and running a successful let. Here’s our quick-reference guide:

Request a rental property valuation

Knowing how much your property can achieve in monthly rent will influence the rest of your investment journey. Our lettings team will draw on its industry knowledge and combined experience of more than 100 years to appraise the property you wish to rent out. We will combine our on-site valuation with local factors - such as current tenant demand, seasonal trends and stock, historical data and future area prospects - to agree an attractive rental value. To book a property valuation, contact us today.

guide to letting circle

Getting ready for marketing

You should pay attention to how your property is presented. We recommend professional photographs and floor plans for rental particulars, online listings and any advertising. The property should be neat and tidy before any photographs or viewings - potential tenants will be impressed with a bright, well-maintained property. Make sure a professional clean has taken place and, if necessary, apply a fresh coat of paint. For additional tips for letting property, call us.

Reaching potential tenants

We have a strategic in-house approach that will ensure your property is initially seen by a qualified existing database of hundreds of potential tenants. We will then generate interest through a mixture of mainstream channels, including website portals Rightmove, PrimeLocation and Zoopla, via the erection of a ”TO LET” board outside your property and from local and regional press coverage. London Residential will ensure your property is visible on the internet on the same day as the instruction.

Viewings

A member of London Residential will show applicants around on your behalf and will be on hand to answer any questions they may have. We make it our priority to follow up all viewings and pass on feedback to landlords within 48 hours. Not surprisingly we find tenants quickly for lettings in North West London.

Agreeing an offer

Once an applicant has shown a vested interest in your property and is ready to commit, we begin by taking a fee of intent and issue a tenant’s acceptance letter which outlines the parameters of the offer. The fee of intent is based on two weeks’ rent and allows our negotiators to discuss the terms of the offer with you openly. Our team will ensure we secure the optimum rent, tenancy length, requirements and move in date to get you the best possible offer.

Checking references

On paper, many tenants sound like a dream but we believe in diligently following up all references and checking each tenant’s employment, rental and credit history for utmost peace of mind. We use a professional, independent company to complete our referencing so every report is impartial and accurate. In fact, we consider this the most important part of the property letting process as the security of our clients is key for us.

Making sure your let is legal

If you’re letting property in London, be aware that there are a number of legal requirements which should be met before a tenancy commences. These currently include the provision of an energy performance certificate (EPC), a gas safety certificate (CP12) provided by a registered engineer and details of the deposit holding company (if we are managing the let). We will also check that each tenant has the right to rent. Once a tenant and your property have passed all our checks, we will draw up a tenancy agreement to be signed by both the tenant and the landlord.

guide to letting movein

Moving the tenants in

The moving in day has arrived and all that is left to do now is hand over a set of keys to the tenant(s). You will already have approved the references, all monies will have been paid by the incoming tenant(s) and the tenancy agreement signed by all parties. We will also have set up a standing order for the monthly rent so the amount is automatically collected from the tenant’s account. London Residential would strongly recommend that you commission an inventory.

Files and documentation

Our attention to detail means there’s no delay in obtaining paperwork pertaining to your property letting. We will promptly send you a copy of the fully signed tenancy agreement, a statement of account and any other associated documents, such as an inventory. We will also hold copies on file.

Property management

Whether it’s to promote lettings in Camden and other North West London areas, sharing fabulous finds in NW London, pointing you in the direction of property advice or re-posting local news, we love social media. Find us on Twitter, Facebook, LinkedIn, YouTube, Instagram and Google Plus.

Online appeal

We know that almost every property search starts online and that’s why we’ve invested in our own website. It’s refreshingly different - edgy enough to reflect the areas we cover, yet functional to provide visitors with easy navigation and a fast search facility.

Out of hours answering service

Every call to London Residential is important so when our offices are closed all calls are picked up by an external answering service whose representatives will take your messages and pass them to our branch managers.

Property Management - The Ultimate Aftercare

Your property investment is just that - an asset that should grow and provide you with a return. Our full property management service will ensure your let is protected at all times, by making certain your tenant pays the rent and is respectful of the condition of the property. We do this through a frank, pre-let conversation with the tenant, regular inspections, an open and trustful dialogue with everyone during the let, as well as a reporting system that swiftly addresses emergencies and planned maintenance. Ask us about our property management service today.