At the start of the letting process you need to make sure that you know what is the achievable rental value of your property. This is determined by the location of your property, the number of bedrooms, any local services and amenities, the property’s cosmetic appearance and overall condition.
The Real Property Experts will advise you on the most favourable and realistic rental value factoring in the market's current status.
Once you have your valuations, you can use our yield calculator to find out the annual rental yield you receive from your investment property.
Managing a rental property yourself comes with its own set of challenges. It is possible to oversee the process provided that you live locally, have responsible tenants and the property is in excellent condition. In addition, there are substantial legal obligations you as a landlord have to comply with, creating sizable amounts of administrative work.
Dealing with unforeseen eventualities like boilers breaking down to a tenant losing their job, management work can create a significant amount of hassle and stress.
Here at The Real Property Experts we have a proven track record of managing rental properties for our clients with great success. Let us help you and ensure you are protected in every way and take care of the day-to-day work involved in letting your property.
As the landlord, you need to make a decision on whether you will let your property be furnished or unfurnished. While a well-furnished property will attract higher rents, in the long run, you will have to absorb the cost of replacing the furnishings due to natural wear and tear.
The Real Property Experts recommend that the landlord provides white goods, such as a washing machine, cooker and fridge/freezer as a minimum if letting the property unfurnished.
Landlords need to prepare to place any surplus furniture into storage if the tenants don't want them on the property.
Our agents employ a range of marketing tools to ensure your property gets all the attention it deserves. The Real Property Experts can display your property on websites such as Rightmove, Zoopla, and On the Market through our connections.
We use our window to attract walk-in prospects in addition to the numerous highly visible and strategically placed “To Let” boards in the area.
By choosing The Real Property Experts to manage your property, we can ensure that your listing will receive maximum publicity using a combination of these methods, reinforced by daily contact with pre-vetted prospective tenants from our database.
Following an offer from prospective tenants, we provide you with an information pack containing all their details. Our agents at The Real Property Experts will check their current situation, employment status, who intends to move in and for how long. The decision is up to you as the landlord whether you wish to proceed and accept their offer or not. If you refuse the offer, viewings will resume until a suitable tenant is found.
Once you as the landlord have accepted an offer, The Real Property Experts will go ahead and ask for a holding deposit from the applicants and ask them to visit the office with their Right to Rent ID which will be checked and copied. We will also start the referencing process to check the tenant’s identity, place of work, earnings, and credit history. Meanwhile, we will postpone any viewing until all checks have been completed.
The Real Property Experts use an independent referencing company to report suitability and creditworthiness, including payment history on any previous lending and any adverse credit. Prospective tenants’ identity is also verified, as is their right to live and work in the UK. We will contact their previous landlords to provide us with a reference for their last contract. We compile information from various sources such as Experian and Equifax into a report that indicates whether they have passed or failed. Our experts will advise you based on the report as to the suitability of a tenant.
Following the detailed checks, The Real Property Experts will arrange for the tenancy agreement to be drawn up and signed by all parties. Tenants are asked to pay the agreed security deposit and rent. Once we receive the funds, our agents will hand over the keys and the move-in process will begin.
Following government guidelines, all deposits are protected in Government approved deposit scheme.
Before the tenant moves into the property, it is advised that an inventory/ Schedule of Condition process is carried out. This is to note the cosmetic condition and content of the letting. Good quality photographs for future reference should support this descriptive information.
Depending on whether an inventory was taken, the clerk will meet the tenant at the property to conduct the check-in process. A meter reading will be taken, and the keys will be photographed and then handed to the tenant. If you have chosen to have the property managed by The Real Property Experts, we will also retain a set of keys at our office.
Within a week, we will send the tenants the inventory documents to agree to and sign with any amendments.
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