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Advice for Landlords
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Advice for Landlords

Firstly, Landlords should do some research....

Have a look at several agents’ websites for two reasons:

  • To see how many properties they have available in your area and at what price are they being marketed for, and
  • How the agents present the properties being advertised. Then ask the agent how many properties they have rented out recently in your area.

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.

waterfront houses Gunwharf Quays, Portsmouth
waterfront flats Brighton Marina, East Sussex

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

  1. Redecoration in a neutral colour throughout
  2. Good quality carpets and flooring – to be professionally cleaned before the tenancy start date
  3.  Removal of all personal effects, including pictures of any value
  4. For a furnished property you would need to check that any mattresses and sofa’s have safety labels that show they comply with the The Furniture and Furnishings (Fire Safety) Regulations 1988 (as amended in 1989, 1993 and 2010)
  5. Appliances in good working order – instructions to be supplied to agent
  6. Property to be professionally cleaned throughout including oven and appliances
  7. Gardens to be seasonally tidied and where possible garden tools should be left for a tenant to use.
marina properties Poole, Dorset
waterfront living Sovereign Harbour, Eastbourne

 Legal Requirements

  1. An EPC (energy performance certificate) is required before a property can be marketed
  2. Mortgage consent should be sought before marketing your property, your mortgage company could charge a fee and increase your monthly payments for a rental property
  3. Contact your buildings insurance company – again your premiums could be increased
  4. It is also advisable to take out a landlords content insurance policy
  5. Gas Safety Certificate for any properties that have a gas supply
  6. If you are going overseas for more than six months of the year, you will need to complete an NRL1 form, which is then sent off to HM Customs & Revenue for processing.

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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