New Landlords
Are you thinking about renting out a property you either currently own or may own in the future?
Great! Property letting can provide a safe investment with a reasonable return, when conducted correctly.
We have put together this handy landlord guide which gives details on the various lettings services we provide, along with some general information related to property letting and the key processes involved.
Our Services
At We’ll Let Your House, we offer landlords a suite of lettings and property management services, each with varying levels of ongoing support once the tenancy is set up.
Tenant Find
The ‘tenant find’ service is perfect for experienced landlords. We source suitable, well-referenced tenants, set up the tenancy, and then hand the ongoing management over to you. This is the most ‘hands on’ option as the landlord manages all aspects of the tenancy and property management once keys are handed over to the new tenants.
Full Management
Our most popular package includes tenant find, tenancy set up, and ongoing tenancy and property management, giving you peace of mind of having an experienced agent by your side throughout the tenancy. This is the middle ground regarding landlord involvement; We’ll Let Your House facilitates and advises throughout the tenancy, but control over the property remains with the landlord.
HMO Management
We specialise in the management of HMO properties and have built up an excellent reputation in the Boston and Spalding areas as a responsible agent committed to ensuring our properties remain an asset within the community.
The work involved in managing a good HMO is considerably higher than managing a single let, not least because it involves managing multiple tenancies with a relatively higher turn-over due to the property type.
Not only do we complete more regular compliance checks at the property as part of our HMO service, but we also complete additional duties in and around the property as part of our bespoke HMO cleaning and curtilage service. This ensures the communal areas are kept clean and the HMO always looks presentable from the road.
Rent Guarantee
Landlords receive a set guaranteed rental payment every month regardless of the property status (let, empty, defaulting). We’ll Let Your House also take responsibility for all property compliance and maintenance works up to £1,000 for and single pre-agreed defect or faults. This is recommended for landlords seeking a completely ‘hands off’ experience as We’ll Let Your House takes control of the property for the entirety of the lease period.
Property Compliance
One of the many reasons landlords award us with their instruction is to ensure their property and tenancy remain compliant. Doing so ensures key legislation is adhered to, mortgage and insurance terms are validated, and any claim for possession will be won.
We do not compromise on compliance and are committed to protecting our landlords position throughout the management period.
We detail what the main compliance documents and consideration are below, although, this list is not exhaustive. If you are missing any of these, don’t worry, we can arrange any missing documents to be completed on your behalf.
Gas Safety Record (GSR)
A suitably qualified gas engineer must inspect and certify that all gas appliances are ‘safe’ every year. Once complete, a copy of the GSR must be served on the tenants.
Energy Performance Certificate (EPC)
An EPC needs completing by an energy assessor before the property is let and a copy of this must be served on the tenants. The EPC provides valuable information about expected running costs and efficiency. A property with an EPC grading below an E cannot be rented.
However, should a property achieve a grading below an E we can assist with any works required to improve the grading. An EPC is valid for ten years.
Electrical Installation Condition Report (EICR)
The electrical installation will need testing every five years, or before the start of any new tenancy, by a suitably qualified electrician. Once complete, the EICR must be served on the tenants.
Smoke and Carbon Monoxide Alarms
A rented property must have smoke detectors installed on each floor where there is living accommodation. We recommend the installation of wired interlinked units.
A carbon monoxide alarm will also need installing by any solid fuel-burning appliance, and we strongly recommend landlords install a carbon monoxide alarm by any gas-burning appliances.
Conditions for Renting
Unfurnished
Renting your property as unfurnished allows a tenant to use much of their own furniture and appliances and is the most popular furnishing type chosen by our landlords. In addition, unfurnished properties generally carry the least legislation as landlords are not responsible for any portable appliances or furniture. We do, however, recommend curtain poles/blinds be installed. Where blinds are installed, they must comply with safety standards to prevent injury.
Part – Furnished
Renting your property as part–furnished generally means the landlord provides some furniture and portable appliances such as fridge/freezer, sofa, dining table, chairs, blinds/curtains. When providing portable appliances, they must be regularly PAT (Portable Appliance Test) tested by a qualified electrician. Additionally, where blinds are installed, they must comply with safety standards to prevent injury, and any furniture provided must comply with fire regulations and have a fire safety label attached.
Fully Furnished
Renting your property as fully furnished generally means providing everything a tenant would need to move in straight away. A landlord would be expected to provide items such as fridge/freezer, sofa, dining table, chairs, wardrobes, blinds/curtains, beds, mattresses, washing machine, microwave etc., as part of a fully furnished let. You will need to ensure any portable appliances are regularly PAT (Portable Appliance Test) tested by a qualified electrician. Where blinds are installed, they comply with safety standards to prevent injury, and regarding furniture, all items provided must comply with fire regulations and have a fire safety label attached.
Presenting your property
First impressions count, and with property, it’s no different. A well-presented property attracts more interest, higher rents, and longer tenancies. Therefore, we strongly recommend getting everything in order internally and externally before marketing.
The property’s interior should have a fresh feel, ideally decorated with neutral tones throughout with functional fixtures. Don’t forget about outside spaces; ensure these areas are well maintained and any fences or gates are in good working order.
We recommend having the property professionally cleaned at the beginning of the tenancy; this allows a standard of cleanliness to be maintained throughout tenancies.
The Lettings Process
Once all compliance works have been completed and decisions around furnishing and general presentation have been made, the property is ready to ‘go live’ and be marketed ‘to let’.
Below, we explain what you can expect from this initial stage all the way through to new tenants being handed the keys to their new home.
Property Marketing and Viewings
Once the property is live, we arrange accompanied viewings at the property with our pre referenced tenants and from viewers garnered through general marketing.
Our aim is to expose your property to the maximum number of potential tenants to attract as much interest as possible to give you the best pool of tenants to choose from.
To do this, we circulate and publish the property on the online property portals and feature it in all other general marketing material.
Referencing and Offer
Once you have selected an applicant to proceed with, their application will then progress to referencing.
We use Rightmove as are referencing partner, they cross reference the information provided on their application form and complete further checks including a credit check, employment check, right to rent check, and a current landlord reference.
Once these checks are complete, we will discuss the outcome with you and ask you to confirm your intention to proceed to offer.
Upon a satisfactory outcome, we will then offer the applicant the property asking them to pay a holding deposit to reserve the property before the tenancy is signed.
Once the holding deposit is paid and the property is reserved we then negotiate a move-in date, and begin the move-in process.
Inventory
A key component of the move in process is the completion of a photographic digital inventory report. This report is completed before the tenants move in and details the property condition at the start of the tenancy, helping to avoid any deposit disputes at the end of the tenancy.
Opening meter readings are included within the inventory ensuring actuate opening and closing bills for both the tenant and landlord respectively.
Our office also update the council and all utilities of the change in liability.
The signing of the tenancy agreement
A draft contract will be sent to the tenants and the landlord before the tenancy is signed. The tenant will also receive property and tenancy compliance documents, as well as documents in relation to the protection of the tenancy deposit.
Once both parties are satisfied with the terms of the agreement, the contract is signed, and outstanding monies paid. Keys are then handed over to the tenants on the tenancy commencement date.
Deposit
We protect the tenant deposit in our deposit protection scheme within 30 days of the tenancy start date. Our nominated scheme is the DPS (Deposit Protection Scheme) Insured. Follow this link for more information on the scheme: https://www.depositprotection.com/insured-guides/
Inspections and Maintenance
As part of our managed service, we perform regular inspections throughout the managed period. The first inspection will take place after 3 months, the halfway point of an initial 6-month fixed term tenancy.
This first inspection provides valuable information on tenant conduct at an early stage and may help inform a decision over extension.
Throughout the tenancy and following inspections, We’ll Let Your House will inform, advise, and instruct (with your authority) maintenance works to correct any defects or faults.
Our maintenance team have the capability to complete minor repair works through to larger refurbishment projects.