Being a landlord can be stressful regardless of whether it is your first time, or you own a portfolio of properties. Using our experience and knowledge within the letting industry, we have put together a guide to help maximise your property investment and hopefully avoid the pitfalls..
Getting an accurate valuation of the rental potential is key – this will make sure your property is let out quickly. As a landlord an empty property can be a drain on your finances. As one of the leading Letting Agents in the area, we really do understand the market and have an excellent lettings rate with many happy customers. We offer a free valuation service from one of our many experienced letting agents. We will always be honest with our assessment, pricing and feedback and aim to achieve the best income for all rentals.
When deciding on a letting agent, there are many factors to compare. You want an agent that will proactively market your property - make sure they have their listings online with the major search websites such as Rightmove, Zoopla and Primelocation, as well as professional photography, brochures and advertising. And read up on customer reviews, what their opening times are and their location. At Kings Estates Tunbridge Wells, we are the only agent in town open 6 days a week and, being located next to Tunbridge Wells station, our properties are on display directly to the station platform giving us a prime audience of both commuters and visitors to the town.
You will also need to decide on the level of service you require – an agent can just find a tenant and undertake or all the security checks, or you pay for additional services from ongoing rental collection to full property management – have a look at the landlord services that Kings Estates can offer you.
Using a property management service can not only take the stress out of being a landlord, but also it can help maximise the returns on your rental income. At Kings Estates, our property management service can not only take care of the day to day tenant communications, but also give you peace of mind with our regular checks that your property is being looked after and that you are meeting all the legal and regulatory requirements as a landlord. Have a look at the full service we offer here.
First impressions are everything and the property should be well presented. Make sure the outside approach is tidy and appealing, give the main receptions rooms a coat of paint or two in light and neutral colours and accessorise with mirrors to give the property a spacious feel. At Kings Estates we use trained photographers, produce professional floor plans and full colour downloadable brochures to present your house at its best and promote it through our numerous marketing channels for a faster rental.
If this is the first time you have let out your property, you will need to undertake a full inventory – this should detail the contents and their condition before rental. At Kings Estates, we can organise a professional inventory on your behalf.
The key to a fast letting, is gaining maximum exposure for your rental property. At Kings we have a seamless marketing approach that includes online property search websites, full colour brochures, professional photographs and a large database of people looking to rent.
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We will book and accompany all viewings on your rental property. With our longer opening hours we can work the viewing appointments around potential tenant’s busy schedules. We can help answer any questions the potential tenants may have, and we will always provide prompt and honest feedback after every viewing. [link to About Us page with opening hours info]
We will inform you of all offers made on your property and any conditions attached to it. We can give advice on whether the offer is reasonable and the validity and circumstances of the potential tenants. Once you have accepted the offer, we will undertake the following on your behalf:
Collect and check full references from the tenants
Arrange signing of Tenancy Agreement,
Manage the financial side including the collection of the deposit and first month’s rent
Arrange check-in and inventory (charges apply)
Arrange a Gas Safety Record where applicable (charges apply)
Liaise with tenants to sign a standing order instruction for the monthly rent.
Register the deposit with the tenancy deposit protection scheme if required – this will result in a more efficient deposit release process at the end of the tenancy.
When all the monies have cleared, and the Tenancy agreement has been signed by all parties then your new tenants can move in to the property. It is recommended that you check the inventory with the tenants at the outset to avoid any disputes at the end of the tenancy. If you are using our managed property service, we will give the tenants our contact details.
Your property is now let!