The Landlord Journey – Our 10 Step Guide
Step 1. Preparing to let:
Deciding to let your property is a big decision, whether it is an investment opportunity or a solution for a property that is currently not in use, many considerations need to be made when preparing to let your property. From deliberating whether it is the right time to let, considering what kind of tenant(s) you are hoping to acquire, to choosing the ideal agent for you; make sure to do your research and know exactly what you are looking to achieve from your let.
Our highly energised and focused teams are passionate about property and can offer streamlined support and expert advice, obligation free, on the best options for your individual requirements. Contact us and a member of the team would be delighted to discuss further with you.
Step 2. Request a Market Appraisal of your property:
We understand that as a landlord your goal is to acquire the best possible price for your property and a quick turnaround, after all an empty property loses money. Our experienced property experts are dedicated to answering any questions you may have and will ensure the best possible price is agreed upon.
For an instant, free valuation of your property click here.
We highly recommend giving our Lettings team a call ahead of your market appraisal. We can then discuss your requirements in detail and get a better idea of your motivations and intentions for your property. We can also discuss what service level you are looking for, advise on length of tenancy and, importantly, answer any property preparation questions you may have at this initial stage in your landlord journey.
If you are a Buy to Let investor, we can also provide expert advice on sourcing the right property for your requirements and help with your search for the perfect investment property and mortgage.
Get in touch with a member of our team to start your conversation today.
Step 3. Market Appraisal of your property:
It is important to remember that the market appraisal is not just about the rental price of your property, it is the perfect opportunity for you ask any questions you have (we recommend writing questions down to take with you to your market appraisal), to learn more about the market from an expert in the field and for the lettings team to provide their guidance during the beginning of your landlord journey.
You should expect your agent to be incredibly knowledgeable – it is their job to live and breathe the market after all – and they will be able to advise you on everything from property safety, cosmetic improvements to tips on how you can improve your rental price and secure tenants. Our agents have years of experience and will have rented hundreds or even thousands of properties during their careers, use this opportunity to gain valuable insight!
Step 4. Appointing your Letting Agent:
It is now time to make it official and instruct your chosen letting agent. We understand that deciding to let is a very personal decision and no two landlords’ requirements are the same which is why when selecting an agent, it is important to consider many factors, not just the fee. Make sure you appoint an agent that has a strong reputation in the area and a good physical presence on the high street, this will ensure that you are attracting the highest calibre of tenants for your property.
We also advise that you take the time to meet with your agent so that you can get a feel for them and their ability to support you as a landlord, building a solid relationship with an agent you trust will be a key step in your successful journey as a landlord. You will also be able to decipher if they have the knowledge and technology to help you market and tenant your property in this increasingly digital world.
It is now time to also consider Property Management for your property. With many tenants now insisting on property management, and willing to pay a premium on rent for this, increased numbers of landlords are choosing to use property management services. Property management not only increases the marketability of your property, therefore attracting a higher calibre of tenant, it can also offer you peace of mind that both your property and tenants are being looked after 24 hours a day, 7 days a week.
Step 5. Preparing your property for the market:
Preparing your property for market is a vital step in ensuring you get the best possible return on your investment. First impressions are absolutely crucial in securing the right tenant so whether it is a simple declutter or fresh lick of paint or a full renovation of the property, it’s time to get your property looking its best.
Here at Ashtons we are proud to offer refurbishment advice and tips on how to get the property into a marketable condition, maximising the property’s potential and therefore your investment.
Before your let begins, a professional and comprehensive inventory must also be obtained setting out the condition, cleanliness, and contents of the property.
Step 6. Professional photography and virtual videos:
We fully understand the importance of presentation to create the right impression. At Ashtons, not only will a professional photographer visit the property, we now also use drone photography and virtual video tours to market our properties, which have proved to increase audience engagement by 40%. The use of cutting-edge technology not only attracts more applicants but also ensures those viewing the property have a genuine interest in proceeding.
We are the only local agent with the in-house expertise of a professional photographer, copywriters and marketing team, who are experts in showcasing your property. We use the right mix of traditional, online, lifestyle and social media channels to attract the widest audience possible.
Step 7. Viewings:
Your property is now on the market and viewings can take place. To find your perfect tenant your property requires maximum exposure across a wide range of platforms.
Every year, we register thousands of professional, corporate and company tenants and our local viewing guides are available 7 days a week to showcase your property. We work closely with Cartus PLC's Relocation Agent Network, who are one of the largest relocation companies in the world, acting for many blue chip companies and PLC’s. Combining our reputation as the number one prime residential property expert with the rich source of corporate tenants through Cartus, will ensure you have a winning formula to find the very best tenant for your home.
All of our viewings are conducted by our local professional viewing guides who are experts at instilling confidence in potential candidates. It is our job to ensure you get the best tenant possible for the best price possible for the optimum time possible!
Step 8. Negotiating an Offer:
Choosing the right tenants is vital, and as soon as any offers are made, these will be presented to you. A great application is not just about the price; length of tenancy, move-in date and any special requests also need to be considered and our team can assist in selecting the best option for you.
Our agents are all highly trained to navigate even the trickiest deals and excel in surpassing client expectations - over 98% of our landlords say they will recommend or use our agency again.
Step 9. Agreeing the tenancy:
Once you have accepted the offer with your chosen tenant, there will be important paperwork to complete before the tenancy can proceed. This can all be done using the Ashtons Letting Portal, that you can access anytime, anywhere from your desktop, tablet or mobile – designed to make the process of renting as smooth and simple as possible for both tenants and landlords.
Our portal has been designed to keep track of the tenancy showing you exactly what is happening at every stage of the process - giving you full transparency.
Here you can:
Securely upload your landlord documents.
Upload an existing or order a new Energy Performance Certificate (EPC), Gas Safety Inspection (GSC), Electrical Installation Condition report (EICR).
Confirm your fees, view, negotiate and secure upcoming tenancies.
View and sign tenancy agreements.
Book and pay for services such as professional cleaning of your property, inventory check in, boiler service, smoke and Co2 alarm installation, legionnaires risk assessment, handyman repairs and maintenance, gardening service and much more.
Your tenants can also opt in to use our free Ashtons Concierge Team who will get in touch to help with services including council tax and utility bills and also provide recommendations for removal services, cleaning and gardening services, ensuring they are happy and well taken care of.
Step 10. Moving in Day:
On moving in day, keys will be released to the inventory clerk or the tenant directly. For managed properties, we will provide the tenant with contact details of their dedicated Property Manager, who will start the next stage of your property journey with Ashtons.
Congratulations, your property is now let!
Contact a member of our team and begin your Landlord Journey today...