Firstly, Landlords should do some research....
Have a look at several agents’ websites for two reasons:
Request a valuation
Once you have decided on a couple of good agents, invite them round to carry out a valuation on the property. Not only will they be able to give you a marketing price but they should also be able to advise on how best to present your property in order to achieve the best possible monthly rental.
Types of service available
Agents generally will offer a landlord three types of service - the level of service you require will determine the costs involved. The agent will provide you with a breakdown of these.
Fully Managed – For landlords who want peace of mind that the agent will take over the complete letting process of their property, with assurance that the property will be looked after on a day to day basis. The agent will process the monthly rental payments, conduct periodic visits on the property and send you a report. They will deal with any maintenance issue’s that may arise during the tenancy.
Rent Collection – For hands on landlords who like to deal with any maintenance issue themselves, but want the agent to be responsible for processing the rental payments.
Tenant Find Only – For landlords who like to manage the property themselves but who like to use an agent to market their property, secure a tenant and draw up all the legal paperwork required
Preparation of your property for letting
Agents will require proof of ID (including a photo) for all owners of the property and any agent agreement will need to be signed by each owner. When working out your finances for the rental property we would recommend calculating 10 months rental payments instead of 12 months to allow void periods inbetween tenancies for any maintenance works that may need attention.
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