Our Landlords Journey

 

With changes in Stamp Duty, Tax Relief and over 150 separate pieces of legislation finding the “right” tenant” at the “right time” with the “right rent” can often be a struggle.

 

Margins are tight and although gross yields remain stable profits can soon be eroded through property remaining vacant, rent arrears, damages and maintenance.

 

At Potter’s we go “that extra mile” not only taking up standard references but in finding out about such things as Pets, Children, Relationships with Previous Landlords, Deposit Histories etc’

 

Ronald Regan coined the phrase “trust but verify” in 1984 and we follow this example with a property inspection after the first three months, and thereafter at six monthly intervals until the final inspection.

 

Prior to renting we produce a fully itemises itinerary agreement with dated photographs and will read and photograph all the Utilities including the water meter reporting these readings to the companies so there are no grey areas.

 

Unlike many other agents we don’t centralise out of office hour calls or delegate responsibility to third party call centres. Our mobiles are available and we will handle any queries personally from start to finish, if necessary, using skilled tradesmen from our network of local suppliers.

 

“I was thinking of investing with a Wealth Manager until I read about the initial and on-going charges. Looking at the rental yield, and appreciation in the value of my property my letting agent seemed very good value in comparison”

 

Landlords Journey- your guide to our lettting process

Assured Shorthold Tenancies (AST) only

 

Thank you for your interest in the Landlords Journey and it's process. Whether you are a first time or multiple property landlord we are delighted to help. Our lettings process is set out below and if you need any further advice or information, please contact us and we will be delighted to assist.

Please note that from the 1st June 2019 all lettings are processed in accordance with the Tenant fees Act 2019. The Letting People will not charge any Agency fees to Tenants.

 

Contacting us to arrange your valuation
So you have decided to let your property! To get started, you can complete the ‘Request a valuation’ from this website or contact us directly so we can make an appointment for your marketing appraisal and rental valuation. We provide this FREE with no obligation to the current property owner. It allows you to take advantage of our specialist and professional lettings advice - essential if you want to maximise the return on your rental investment.

 

Preparing your property for let
We have many years experience of your local rental market covering all locations and can advise you on how to prepare your property for your chosen tenant market, whether this is for professional or company lets, families or students and furnished or unfurnished.

 

Planning for viewings
We accompany everyone who views your property to ensure that it is presented to them in the most effective and desirable way, whatever their specific needs, and to be on hand to answer any questions that they may have about renting your property. You should make sure that the property is fully cleaned and any repair works are complete before viewings take place. Further items such as property and appliance manuals being in view, keys working correctly, doors and windows opening and locking correctly will help to reassure potential tenants that your property is well looked after and provide the maximum opportunity to let the property quickly and at the best rental.  An empty property (or ‘void’ as it is known) is not producing any income!

 

Progressing Lettings

Please note that progression of a letting beyond the Letting Administration and the Memorandum of Letting is subject to the Agency Agremeent terms and conditions agreed for the service selected.

 

Receiving offers and taking applications
Our Letting Administation includes when a viewer wants to make an offer to rent the property we will contact you to confirm the details provided by the prospective tenant and any specific requirements. We agree these provisionally ‘subject to contract’ before we progress an application and take a Holding Deposit equivelent to 1 weeks rent including the Memorandum of Letting.

The provisional details will include the rent payable, tenancy deposit due, planned start date, duration of the letting and any special requests or terms together with brief details of the prospective tenant’s current employment. In addition, a deadline for Agreement Date will be agreed with the prospective tenant.

 

Taking up references
Our Tenant Application Progression service requires all prospective tenants to fully complete a reference application form including their current employer and landlord. Additional enquires will be made if required from former employers and landlords and a personal referee. A credit reference agency will take up the references, including a credit check. 

 

Your rent payment
We will arrange to receive the first rent payment before the start of tenancy and, if we are collecting the rent thereafter, monthly on the same day of the month.

 

The tenancy deposit
We will arrange to collect a tenancy deposit when your tenant signs the tenancy agreement and before the actual start of the tenancy. The tenancy deposit is equivelent to 5 weeks rent which will be subsequently registered with the tenancy deposit scheme (The Deposit Protection Service).

 

Commencement of tenancies
We will contact you to arrange the signing of the tenancy agreement and all other tenancy documentation.

 

Collection of keys
Once all the tenancy administration arrangements are complete, we will let your new tenants know that the keys are ready for collection. This is usually organised prior to an appointment on the day of your proposed tenancy start date. To ensure a smooth handover, please confirm that the property is ready and available for occupation, or if not, please let us know the expected available date as a matter of urgency.

 

Congratulations you have let your property!

 

Our administration and arrangement fees
Following the start of the tenancy we will provide you with copy documents for your files, including the signed tenancy agreement, and deduct our fees and any charges due from the first month’s rental payment before paying over the balance to you.