Guide to letting

Before you begin the process of letting your property, you need to be thoroughly prepared. There is a lot to do before you can think about getting your new tenants through the door.

First impressions count for everything when it comes to property, so it's vital your home looks its best for potential tenants. Maintaining this condition for all your viewings will give you the best chance of letting your home and achieving the best possible price. So, what preparations should you make?

The external view

This is the first view your potential tenants will have of your property, so you should focus on optimising its appearance. Make sure all aspects of your property are up to scratch and meet all of the required standards to give you the best chance of finding the right tenants and achieving the best price.

The interior

As well as the physical standards of the property itself, there are numerous other standards that will need to be met, including safety standards for gas and furniture.

If the property is to be occupied by more than one family or party, this constitutes a House in Multiple Occupation and further regulations will need to be adhered to, as well as registering with your local authority. Read more about requirements for Houses in Multiple Occupation on the department of Communities and Local Government website.

It may seem like a lot of work, but with time, energy and even a bit of money spent now, it could really make the difference to how quickly you let your property and how much rent you can charge. 

Other considerations

Think about the type of accommodation you are going to let and how you are going to let it out. 

These different considerations will affect how you prepare and proceed with the let and the choices you make in managing it.

Who should you consult before letting your property?

Before you can let your property, you need to consult a number of parties:

While your thoughts may be leaning towards how much you can make by letting your property, it is important that you consider and budget for the costs involved, too. You should budget for the following costs:

Plan carefully and make sure you always have access to funds to make essential repairs if and when required. It will put you in a much better position to retain a satisfied tenant.

Choosing a letting agent

You should never underestimate the work involved in the successful letting of your property.

The vast majority of landlords prefer to hand over the responsibility for finding a tenant to a dedicated and qualified letting or estate agent. This cuts out all of the necessary awkwardness of having to deal directly with viewings and negotiating with potential tenants. There are considerable advantages in using a letting agent, who will:

Managing agents

After you've found suitable tenants for your property, you have the option of either managing the let yourself, or hiring the services of a managing agent to work on your behalf. Much will depend on your circumstances. If you are living abroad, for example, you may want to employ a managing agent to make sure your tenants and the property are sufficiently looked after while you're away.

The majority of letting agents also offer property management services. If this is an option you're interested in, consult the letting agent first to make sure they can offer this service. A managing agent will:

Pre-tenancy checklist

A pre-tenancy checklist should help you make sure you've ticked all the right boxes before you make the next step in letting your property.

Get In Touch

alexandra park Estates

500 Northolt Road
South Harrow
HA2 8HA

phone: 0208 869 0989
email: info@alexandrapark.net

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