Guide to Letting Property

A visit to your property is usually arranged where not only can I evaluate the optimum market rent for your property but also make any recommendations to you regarding presentation or works required, being either cosmetic or legal requirements. I am always looking for ways for my clients to maximise their return on investment. I will discuss your plans so we can assess your needs together and offer you the right service level.

Often these meetings are exploratory when you are at an early stage in your plans and doing some fact finding. All appointments are no obligation and free of charge. I like to ensure everything you need to know is covered, particularly for first time Landlords, so expect this appointment to take around 1 hour.

You’ve appointed me to go ahead so now is the time to further discuss any works that you are in the process of arranging, or require assistance with. I want to ensure the property is presented in the best possible light for marketing.

“A picture speaks a thousand words”

Not everyone has a good imagination, or reads the description, so I want to ensure that photos and videos are planned for when that decorating is finished, tools put away, and the grass is cut. I’m as keen to get started as you are, but waiting just one more day can make all the difference in getting you the best result.

Now is also the best time to make sure you have your legal compliance ticked off:

If you have a mortgage or are looking to let out a leasehold property, you may need consent to let. I recommend contacting your lender and freeholder as soon as possible to ensure there are no unforeseen requirements. Failing to obtain the necessary consents could leave your insurance invalidated.

All rental properties require an EPC in order to commence marketing. An EPC gives tenants an indication of how energy efficient a property is and all rented properties must have an EPC rating of at least “E”, unless the relevant exemption is in place. These reports are valid for 10 years. You can check the national database if there is one already in place for your property.

All rental properties must have a Satisfactory EICR to provide to the tenant prior to the commencement of the tenancy. These must be carried out at least every 5 years. The EICR shows that the electrics in the property are in safe working order. You must ensure your electrician has the appropriate qualifications and insurances in order to carry out this work. There’s some helpful information from The Electrical Safety Roundtable here.

Every 12 months you must ensure all gas appliances and flues undergo a safety check by a Gas Safe registered engineer. If there is already a check in place, you can arrange for another one to be carried out at any time between 10-12 months since the last one and still keep the original expiry date. i.e. expiry 31 December 2021. Check carried out 1st November 2021. New expiry date 31 December 2022. I also recommend annual servicing to prolong the life and reliability of your appliances. You must ensure it’s always a Gas Safe registered and qualified engineer that’s carrying out gas work or a gas safety check. You can find a list of Gas Safe engineers here.

A smoke alarm must be fitted on each habitable level of the property and must be tested to be in working order at the commencement of the tenancy.

I strongly recommend a carbon monoxide alarm is provided in the room where the boiler is present, but if there are any solid fuel burners such as open fires or log burners, a carbon monoxide alarm is a legal requirement for each area where it is present.

The Health and Safety Executive have made it clear that every landlord must assess the risk for legionella as part of your responsibility of keeping the property safe and free from health hazards. In a typical domestic rental setting the risk is quite low, but an assessment should be undertaken and recorded especially where there are stored water tanks, swimming pools and hot tubs.

If a tenant were to contract Legionnaires' disease from the water system in their home, the landlord may be liable to prosecution under HSWA, and would have to demonstrate to a court that they had fulfilled their legal duty, so it is important that they assess and control the risks.

Modern lettings calls for some modern solutions. I am able to offer an alternative to a traditional cash deposit that offers benefits to both Landlords and Tenants. Landlords receive up to 6 weeks protection and Tenants reduce their upfront costs. Offering both options on your property opens your pool of tenants to its full potential, at a time when cash flow can be particularly tight. Working in the same way as the traditional deposits with tenants fully responsible for legitimate claims.

Once I receive an offer to rent the property, before I discuss it with you I require the prospective tenant(s) to complete a pre-application. I want to ensure we have as much information as possible at this stage to discuss with you, to find out if you are happy to proceed subject to successful referencing. I won’t take a holding deposit, or a property off the market prior to having your consent to proceed, making sure that you, the landlord, is in control every step of the way.

My referencing partner is the best in the market, and in turn, I am able to offer some of the highest level of cover for the Franklin Residential Rent Recovery Service. This service is available at an additional cost to my Fully Managed and Rent Collection clients.

Provided your tenants pass the usual credit referencing, affordability, landlord, ID etc checks, you will be eligible for our market leading Rent Recovery Service.

Once referencing has been finalised I will arrange for digital signing of the Tenancy Agreement, so no matter where in the world you are, you can sign your own documentation. I will confirm appointments for the inventory and check in for our Fully Managed and Rent Collection clients and also check the compliance requirements have been met and if any professional cleaning has been organised.

Once the Tenancy Agreement is signed, I arrange payment of the first month's rent and balance of the deposit, or payment of the Nil Deposit. This is usually completed a few days before the commencement of the tenancy.

I ensure that on commencement of the tenancy my independent inventory clerk will meet your tenants at the property to go through the report, continuing our personal service.

The inventory is a very important document and vital for the successful claim for any issues at the end of the tenancy. Once the tenants have taken possession of the property I will prepare your first statement of account and any funds due to you are processed within 3 business days.

This is all dependent on which service level you have instructed me on. I am on hand for my Fully Managed clients at all times.

For my Let Only and Rent Collection clients, where I am asked to carry out ad-hoc work outside the scope of my original engagement, this is priced on an individual basis.