Things to consider
There are quite a few things to consider when you decide to let a house through a letting agent.
Firstly, you need to work out if it is worth it financially before you make the decision.
Costs to consider:
- Mortgage- It may be worth speaking to a Mortgage Advisor about your options as there may be a better deal out there to let your home.
- Landlord Insurance- you may be able to transfer your current home insurance policy if you contact them.
- Yearly Safety checks
- 5 yearly electrical tests
- EPC (every 10 years)
- Property repairs & maintenance- It is best to keep some money to the side each month for any repairs that may need to be carried out in the property.
- Letting Agent Fees- Letting Agents will usually charge an up-front fee for marketing your property then we charge a percentage of the rental income you receive per month for managing the property should you go down the fully managed route (see more about the different options below).
Other things to consider when letting a property
- To let out your home you must let your mortgage provider know. Take a look at our article on Renting out your property
- Decide if you want to let the property furnished or unfurnished- If you are letting a property furnished, there must be fire safety tags on all soft furnishings.
- Check your home out for any safety concerns (the agent can help with this)
What service levels do you have?
Fully Managed Service
This is the perfect solution for busy landlords who do not want the hassle of managing the property.
With a fully managed service, the agent will market the property, show prospective tenants around, check tenant references, do credit checks and draw up tenancy agreements. Once there is a tenant in the property, they will chase rent payments, arrange tenancy renewals, review rent increases based on market changes. They will also manage the property, including repairs, the deposit and deal with any damages. Take a look at our article on Gas Safety Checks
They will carry out an inventory before a tenant moves in, do regular property inspections and provide a check out report when a tenant moves out, to ensure your property is cared for throughout.
Find out how we market your property via our Proven Marketing Techniques.
Let Only Service
This is a great service for Landlords that do have the time and contacts to manage repairs by themselves.
With a Let Only Service, the agent will market the property, check tenant references and draw up tenancy agreements.
Once the tenant is in the property, with this service, any problems or repairs will go directly from the tenant to the landlord.
Tenant Find Only Service
With a Tenant Find Service, we will only market the property. Then any prospective tenant details will be passed onto the landlord to commence viewings and find the right tenant.
Find out how we market your property via our Proven Marketing Techniques
If you would like to find out more contact our Lettings department on 01709 379444