Letting Your Property
If you’re a first time Landlord looking to let your property the following information outlines some of the important steps that need to be taken for a successful let.
As a specialist Lettings Agent in Bury we perform the following every day on behalf of our Landlords. Belvoir Bury Letting Agents would be delighted to assist with your letting.
Let. us do all the work!
Prior to placing your property onto lettings market -
If the property is mortgaged begin the process of gaining permission to let from your mortgage lender. Without this permission you could be breaking the terms of the mortgage.
Book an energy assessment in order to obtain an Energy Performance Certificate (EPC) for the property.
While the property is on the market -
Arrange for a gas safety check to be performed and a certificate issued.
Arrange for an electrical safety check to be performed. (Recommended)
Ensure your buildings and contents insurance cover are adequate and that they will remain in force for a let property.
Ensure smoke alarms are fitted, tested and working. On a typical single family let there should be at least 1 smoke alarm downstairs and 1 upstairs. Seek advice if uncertain.
If offering a furnished property then check the furnishings comply with the latest regulations and carry the appropriate labelling. If there is any doubt, non-compliant soft furnishings cannot be left in the property under any circumstances.
Prior to tenant move in
Draft the tenancy agreement and arrange the signing.
Consider taking out Landlord rent and legal insurance. This will provide financial cover should your tenants default on rent and will cover the costs of regaining possession of the property.
Ensure that the property is checked for any hazards and if found the hazards removed.
Compile an inventory and schedule of condition. This creates a detailed report on the contents of the property (even if unfurnished) and the condition. At the end of the tenancy it will be difficult to claim recompense for tenant damage if you don’t have an accurate description of the property at the start of the tenancy.
Create a house pack including appliance instructions and copies of any guarantees and services numbers. For example cookers, central heating etc.
Carry out routine maintenance in preparation for the letting.
On leaving, clean and tidy the property and garden, to a condition to which you would expect to have the property returned to you. If the garden requires any specific attention, leave full and concise guidelines.
Provide sufficient keys for tenants, we recommend 2 full sets.
Have all your personal mail redirected by the post office
Open a separate bank account for rental income and expense due to letting. This will help with completion of your tax return.
After Tenant move in-
If taking a tenant deposit (sometime called bond) it must be registered and transferred to a government authorised tenancy deposit protection scheme.
Ensure responsibility for payment of utilities and council tax is transfered to the tenants.
Schedule and perform periodoic property visits to ensure your property ios being cared for and the tenants have no issues.
If you have any questions that you need a straight answer to contact Chris Roberts Owner of Belvoir Letting Agents Bury. Belvoir is one of the leading Letting agents in Bury offering advice and guidance to Landlords, buy to let investors and tenants.