10 Steps to the Letting Process

To the uninitiated letting a property for the first time can seem to be a daunting task. Were to start? Who to choose? What needs to be done?

So Lexton London has come up with a step by step guide highlighting what needs to be done on each stage to ensure a successful let can be achieved by anyone
 

Step 1 Free Property Valuation

One of our property valuation experts from our specialist lettings team will carry out and accurate valuation. They will explain the different contracts that we are able to obtain on your property all free of charge.

 Our lettings team carries out a vast volume of valuations each month giving us an intimate knowledge of property values that can be achieved in your area
 

Step 2 choosing an agent

Sometimes landlords immediately go ahead with an agent who puts the highest value on their property this could become a problem if your property sits on the market for a lengthy time unlet. Unlike sales agencies you don’t have to commit to a “sole agent” so market your property with more than one agent. Think about opening hours, when will they be able to conduct viewings and when can you get in touch with them.

Monday – Friday 9.00am – 6.30pm               Saturday, 10.00am- 3.00pm

Step 3 Marketing Your Property

Making sure the right people get to see that your property’s available to rent is essential in finding a great tenant.

Lexton London markets our properties using prime media and advertising coverage as well as the internet.

Lexton London is an accredited council agent so were able to put your property across to many councils maximising your options as a landlord.

Step 4 Safety Regulations and complying with legal requirements

As a Landlord you have a legal obligation to ensure that your property complies with all the necessary regulations covering the safety of appliances, installations and any furnishings provided for a tenancy. There may be different requirements on what needs to be done if you proceed with a council contract however a member of our specialist lettings team can advise you on this. Lexton London can also arrange for the necessary inspections and certificates required.

Step 5 Viewings and council inspections

Maximise viewing opportunities, ensure your agent is open during evenings and weekends. Make sure you have all keys available and agree whether or not you will be at the viewing/inspection. Resist the temptation to ask viewers if they like your property. You may not get an honest answer and it makes negotiating easier and less personal if the agent handles feedback until we get an offer your happy to proceed with.

42% of Lexton London’s viewings are carried out during evenings and weekends and Bank Holidays.

Step 6 Suitability of Prospective tenant

Once a tenant is found whether through the council or privately we will ensure that all references are received. After the prospective tenant proves to be acceptable we can proceed to the next step or if you would like we can arrange a meeting between yourself and the tenant before proceeding.

Step 7 Comprehensive Property Management service

Form our experience we have found that tenants prefer to rent properties that are fully managed and are becoming more demanding of the service they require.

Lexton London guarantees 24 hour care for both your property and your tenant. We take care of everything from collecting rent and handling all the administration that lies behind renting a property.

Step 8 Tenancies and Paperwork

To ensure a hassle free tenancy it is of paramount importance to have a professional agreement in place. We will draw up all the relevant paperwork, ensuring all the necessary documents are signed by both parties. An inventory of the contents and condition of the property should be in place prior to the start of the tenancy a copy will be provided to the landlord and tenant as part of our comprehensive management service.

Step 9 Rent and Deposit

Lexton London will collect the rent on your behalf. The deposit will be secured and registered using an accredited deposit protection scheme in conduct with recent legislation.

Step 10 Completion

Ensure all lose ends are tied up and letters are sent out to make sure all utilities are transferred into the name of your tenant and keys are then released.