Whether you’re a novice property investor or growing your buy-to-let portfolio, it’s always good to remind yourself of the steps between 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 on 020 7424 3222
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.
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.
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.
Agreeing an offer
Once an applicant has shown a vested interest in your property and is ready to commit we then begin by taking a fee of intent and issue a tenants 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.
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.
Making sure your let is legal
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.
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 tenants’s account. London Residential would strongly recommend that you commisssion 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.
Whether it’s to promote properties we are selling or letting, 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, Passle, Facebook, LinkedIn and YouTube.
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 the 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, and a reporting system that swiftly addresses emergencies and planned maintenance. Ask us about our property management service today.