Whether you are letting your property for the first time, or have been doing it for years, the process of marketing, securing tenants and ensuring everything is legally compliant, can seem a bit of a minefield! However, you don’t need to worry, the following information will guide you through the process one step at a time.
However, if you prefer, please get in touch with us and we can arrange a no obligation visit to your property and we’ll happily answer all your questions in person and give you a free market appraisal.
Which Service do I require?
Are you hands on, hands off, or somewhere in between? Choose the service that suits you best and explore the following three flexible packages:
Let Only
The service of choice for the hands-on Landlord; from marketing the property, right up to the tenancy commencement date; the let only service puts everything in place for the experienced Landlord to take over the reins.
The first step is getting your property on the market and we offer Landlords a free property appraisal and valuation service. We’ll arrange to visit and assess your property in relation to the current market conditions and give you a realistic monthly rental price, as well as any advice to help maximise your letting potential.
Online marketing has become the most effective tool for attracting prospective tenants and your property will be photographed and advertised on various web portals including Rightmove. All enquiries will be assessed for suitability and subsequent viewings arranged and attended by us to help find you the perfect pairing.
Finding “good” tenants is probably a Landlord’s primary concern. We have strict vetting procedures in place to ensure that any prospective tenants are suitable candidates for a property and have a legal Right to Rent here in the UK. We use an external referencing company to complete credit and affordability checks. It is so important that we are confident an applicant will meet the financial obligations of a tenancy and just as important, keep the property in excellent condition for you.
The Tenancy Paperwork
Once we have found the perfect tenants and you are happy to proceed, The Lettings Guru will prepare all the tenancy documents, provide any other supporting information required under the Housing Act and advise you of any safety certificates that are required. You can be 100% confident that your let is fully compliant with all legislation.
Tenancy Commencement and Deposit Protection
We will arrange for your tenant to pay us one month’s rent in advance and six weeks’ worth of rent as a damages deposit. As part of our service, to ensure you fulfil your legal obligations regarding the deposit, we will register and protect the funds with the Deposit Protection Service’s Custodial based scheme. (There are other schemes available to Landlords and it may be your preference to register yourself with a scheme and handle the deposit directly – just let us know!)
We will arrange to meet with your tenant at the property to complete the signing of contracts and handover of keys. If we have arranged the inventory and schedule of condition for you as an additional service, we will also conduct a full check in with the tenants, whereby the condition of the property is documented and agreed upon and can be used to help substantiate any claims against the deposit at the end of the tenancy. An absolute must for any Landlord!
Finding tenants is conducted on a no-let, no-fee basis, which means there is nothing for Clients to pay up front. Our fee becomes payable the day tenants move into the property and will be deducted from the rent we have received in advance and the balance will be paid over to you on that day.
Cost £450.00
Extra Fees for let only services
Fixed term renewals with no tenant changes – £100.00
Fixed term renewals/contract changes and referencing £150.00
Rent Collection
Ideal for Landlords who are happy to maintain their investment property, but don’t want to get bogged down with administrative tasks. Rent collection includes all the advantages of the Let Only Service with the added benefit of the agent collecting all ongoing rent payments, chasing any late ones and preparing detailed monthly statements of your account.
£450.00 set up and 3.5% of the monthly rent ongoing
Extra Fees
Fixed term renewals with no tenant changes – £50.00
Fixed term renewals/contract changes and referencing £100.00
Full Property Management
Whether you live far away from your rental property, or just around the corner, are handy with a screwdriver, or a DIY disaster, many Landlords prefer to be hands-off and need an agent to act on their behalf for the duration of the tenancy.
Encompassing both the Let Only and Rent Collection packages, in choosing to have your property fully managed, you’ll always have a property professional on hand to deal with every aspect of letting your property. The Lettings Guru will find you the perfect tenants, collect the rent and provide statements of account, arrange necessary repairs and deal with anything else that crops up in the day to day running of your property. We’ll even visit at least four times a year to check that everything is being looked after. Our aim is to be your eyes and ears on the ground and we will always keep you fully in the loop. You just need to sit back and enjoy the rent money coming in monthly.
£350.00 set up and 7% of the monthly rent ongoing
Extra Fees
Fixed term renewals with no tenant changes – £50.00
Fixed term renewals/contract changes and referencing £100.00
Hands down the best property manager I have ever used
Keren Cooksey – Australia