Choose an agent with a local has a proven and successful track record in letting and managing property in that area.
A landlord's step by step guide
Decide whether to appoint a “let-only” or a “full let and manage” agent and compare the risks and costs of a let only tenant not paying rent and being able to obtain possession etc.
Compare initial charges, full management charges, renewal charges and bolt on charges for both landlords and tenants as charges can deter good tenants applying.
Decide which agent can provide a prompt hands-on local service including inspections and repairs.
Instruct the afent of the choice who will confirm in writing the terms and conditions and provide a sample tenancy agreement.
Discussions regarding marketing, rent, brochure with pictures, floor plans, EPC, gas safety certificate, smoke alarms, carbon monoxide monitors, service contracts etc.
The agent will market the property with boards, brochures on display and for collection by prospective tenants (most lets are to tenants local to the property) local newspaper advertising and media including Rightmove, On the Market and perhaps more importantly local links.
Accompanied viewings and follow up telephone calls or emails.
Face to face interview with all interested prospective tenants.
Analyse information provided by prospective tenants, as necessary make additional enquiries, obtain credit check and prepare assessment of the tenant’s application and report for the landlord.
Report to the landlord and obtain landlord’s instructions as to which applicant is to be offered the tenancy.
Inform the applicant of the landlord’s decision and make arrangements with the ingoing tenant to enter into the tenancy agreement having first agreed a tenacy start date.
Receive from the tenant the completed tenancy agreement and payments, complete the tenancy agreement on behalf of the landloard, make pre-tenancy inspection, notify utility providers and Councul Tax, register the Damage Deposit, make arrangements for keys and confirm in writing.
Receive rent less agreed charges and statement of account.
Regular reports and communications re any issues relating to the property or tenant.