Letting your property can be a stressful, time consuming and extremely disorganised process and might feel as if you do not know where to start. Fortunately, HAP Letings can help you with expert advice and make the process of becoming a landlord an easy one. There are a few simple steps that you could follow, that will enable you to organise your tasks and keep track of everything you need to do.
1 Property valuation
Getting an accurate valuation of your property is essential for getting the best possible price from your tenants. You should know the value of your offering and ensure that you get the highest return of investment possible. Aim to find potential tenants quickly as to avoid your property staying empty and incurring extra costs.
2 Choosing a letting agent
Choosing a letting agent is an important step as it could save you a lot efforts in the long term. The letting agent will conduct viewings on your behalf, take over the marketing of the property and will help you get maximum rent you can ask for your property. Your agent can also help obtaining an Energy Performance Certificate (EPC) that is required by law.
3 Understanding your obligations.
As a landlord you need a Consent To Let. In the case of an existing mortgage on your property you will need to confirm with your lender that you can let the premises. You are also required to get a Landlord Registration, which is done by registering with your local authority. If you start letting without being registered you can be fined with up to £50,000.
4 Providing quality property management
Quality Property Management can increase the rental returns on your property as many tenants are willing to pay extra for day-to-day management or emergency repairs. HAP Lettings can take over this process for you, giving you the peace of mind that your property and tenants are well taken care of.
5 Professional presentation
Ensure that all repairs you have been planning to do have been completed before any viewings. This is the first impression your potential tenants will get from the property so it is crucial that you present it in its best.
6 Tenancy preparation
Get everything ready for your tenants. This includes comprehensive check of inventory, provision of Gas Safety Certificate and reports, tests and checks of the electrical safety in the property. You are also responsible for ensuring that the tenants get registered with the local council. HAP Lettings can conduct all checks and complete all procedures on your behalf.
Marketing is the key to finding the perfect tenant. HAP Lettings can provide you with a comprehensive marketing package that will guarantee you access to a wide variety of mediums and increased exposure.
Providing convenient viewing hours is essential for you potential tenants. HAP Letting have found that over 40% of our viewings happen after work or during the weekends. That is why we provide longer viewing hours and accompanied viewings. Through these we can ensure that you get the best tenants.
9 Receiving an offer
When a potential tenant makes an offer we will provide you with full details and conditions and will give you time to decide if you want to accept it.
10 Reaching an agreement
After you have accepted an offer we will collect references, arrange the signing of a Tenancy Agreement and collect first month rent and deposit. In accordance to the Government legislation we will hold the deposit with a deposit protection scheme until the end of the tenancy.
After all 10 steps have been completed we will release the keys to the property to the tenant on the agreed move-in day. We will also instruct the new occupiers on how to operate the heating and any other equipment.
At HAP Lettings we can support you throughout the whole process of becoming a landlord from valuation to move-in of your tenants. Contact us today to learn more about our services and to get expert advice.