Is the property you want to let an investment or your home? You will have different priorities and needs and the help and advice of a property professional can be essential at an early stage.
Talk to your mortgage lender as early as possible to make sure you can get consent to let your property.
2. Consider your time scales
We recommend that you market your property no more than 6 to 8 weeks before you want it Let. The standard length of a tenancy is 6 or 12 months. Talk to friends, colleagues and other landlords too for recommendations.
3. Talk to a Letting agent
We can help guide you through the process and assist and help you if you are considering letting your property. Drop in to the branch to meet our team and talk through your needs.
Get your property valued – all agents should offer comparable evidence of other properties recently let, discuss property management, associated costs, compliance issues, local and national market information, rent guarantees and insurance policies. We pride ourselves on our ability to help you with every aspect of your tenancy and can offer an outstanding Property Management service.
You will receive a letter which outlines what we believe you can achieve in monthly income for your property. We will then give you a call to discuss the valuation and how you would like to proceed.
When you instruct your agent they should book an appointment to come and take photographs and arrange for an Energy Performance assessment in order to start marketing the property.
6. Agency Agreement
You should receive and sign the Agency Agreement and complete the landlord information forms and return them.
We we will then place your property on the market within 1 working day of receipt of the Energy Performance certificate. We will upload your property on to our website, match with our database, contact prospective tenants, place your property on Rightmove and various other Website and advertise in the local press.
At the viewing stage we pre-qualify all potential tenants and accompany all viewings. We have found that the majority of activity will take place approximately 1 month before the property's availability date.
We will ring your prospective tenants 24 hours after the viewing for their feedback and comments. We will then contact you with the outcome and any necessary actions required as soon as we have it.
When an offer is made we will try to contact you immediately and confirm your instructions on how you would like to proceed.
11. Referencing Process
If an agreement is reached we will start the referencing process immediately (it usually takes about 7 working days) and it covers credit history, employment history, previous landlords and any reference guarantors if required. It is worth understanding the criteria set by your agent for referencing as these may differ. We are happy for you to drop in at any time and talk through any concerns you may have and what our Property Management and Rent Guarantee schemes can offer. We will write to you to confirm in writing all the details at the start of the referencing process.
12. Tenancy Agreement
Once the references have passed the Tenancy Agreement will be drawn up and sent to you. Sign the agreement and return to us or give written permission for Hydegate to do so on your behalf.
Tenants are required to pay a deposit prior to the start of the agreement. As from 2007 all deposits under an Assured Shorthold Agreement, which is the majority of agreements signed, must be registered and proof of registration will be provided. The deposit required is 1.5 times the monthly rent.
We will arrange for an inventory of your property and deal with any compliance issues e.g. Landlords Gas safety certificate.
15. Check-in Service
We can offer a check in service to ensure a clean and efficient handover.
16. Standing orders
We encourage that tenants set up standing orders.
17. Property Management
We take great pride in knowing that our dedicated Property Management Team will ensure that your home or investment is very well looked after.
2 months prior to the end of your fixed term we will contact you to discuss your future plans. We will assess the current market position and advise accordingly and then contact your tenant to discuss their plans.
19. Tenancy renewal
This allows further commitment, planning and budgeting for another fixed term. The process replicates the start of the original tenancy.
20. Serving notice
If you wish to serve notice we will advise on the necessary steps given the circumstances – e.g. whether fixed term (as above) or periodic and serve the necessary notices.
Ready to let your property?
If you'd like a face to face discussion about the letting process or your plans for letting your property, we'd be very happy to do this with you.
We can also provide you with an accurate valuation of your property and give you tips and advice for getting moving. Call us, pop in or complete our online form to get started.
Book a rental valuation
Find out how much rent your property could achieve