Planning to let your property?
7 steps to help you get it right the first time
Planning to let your property, 7 steps to help you get it right the first time. So you’ve decided to let your property and are wondering how to go about it?
Great! You’re in the best place possible position to do it right the first time. By taking these steps one at a time, you’ll ensure that you launch your property to the market with a bang, and get those tenants to take notice.
1. Choose your estate agent
To select your estate agent, first ‘mystery shop’ the more prominent local companies and assess the way they handle a simple enquiry from you, perhaps about a property you feel would be a competitor to yours in some way. Then shortlist two or three, and interview them in your home. Don’t just choose the agent with the lowest fee and highest valuation – take a considered view on their professionalism, their success locally, and whether you like them or not. After all, you’re going to be working quite closely with them for some time.
2. What should I look for in an Agent
To ensure your Agent has the expertise and knowledge to help you achieve the maximum returns from your property we recommend that you choose an Agent who is a member of a recognised Trade Association such as ARLA Propertymark.
3. Choose the right Letting service
The lettings market moves quickly. Therefore you may not have the time in an already busy schedule to commit and ensure your investment is paying for itself and constantly tenanted. You will need to decide what level of service you require. Expert Estate Agents offer three level of services to Landlords – VIP Fully Management, Fully Managed & Tenant Finder.
4. Round up your figures
When you decide on your rental price, you need to ask yourself – does it fit in with an online search? In this day and age where over 90% of property searches are online, you need to select an asking price that will ensure your home is found by the maximum number of tenants searching the property portals. Stay away from the 9s, such as £1249, and instead choose a rounded figure that fits in with the price banding the online portals use, such as £1250. This will maximise the number of tenants who will see your property.
5. Get your property complaint ready
There are lots of regulations to keep your tenants safe. It’s important for you to be a responsible landlord, so make sure you are fully compliant at this early stage.
6. Get your property ready
Make sure your property is ready for photography and viewings. It’s vital you spend time and effort –and even money – on this very important preparation for marketing.
7. Make sure your agent is working for you
Keep in touch with your agent at least once a week, if not more frequently.
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