Knowing what you want...
Finding a reliable tenant quickly is paramount to most landlords. Landlords want a trusted experienced management agent who provides tailor made services to help find a quality tenant in a given timescale and for the best price possible. Broadly speaking if your property has been on the market for more than two months then there is likely to be issue with the price, location or / and condition.
Letting the right way...
Make the right move when it comes to the legalities and complexities of being a landlord which can be a hassle to say the least. There are a number of different types of landlords wanting tailor made services. These can be grouped into New Landlords, Experienced Landlords, Portfolio Landlords, Overseas Landlords and more recently “Accidental” Landlords. We work with all landlords whatever their motivation for renting out a property.
12 years and counting...
Black Horse Property, who have been renting and managing many different types of properties to good quality tenants for good quality landlords since 2000, are here to help you and remove as much of the stress as possible. If you are thinking about letting your property and becoming a landlord we have a unique five point strategy to help. We help guide you through the process and make sure you know what to expect. Below is a brief overview guide with some useful hints and tips from the experts.
The Letting Process in a nutshell...
- A Proactive Rental Assessment & Realistic Valuation
Start with a common sense approach. Perhaps ask yourself would I want to rent this property and would I pay this rent? Be honest. We carry out a complementary rental assessment overview highlighting any potential areas that may hinder the successful rental of your property. Having rented and managed many different types of rental properties throughout Bradford & Shipley for over 12 years, we are best placed to provide realistic rental appraisals to make sure your property rents quickly and for the best price possible.
- Choosing a Letting Agent / Property Management Agent
What do you want from your agent? What do they provide for their fees? How are they going to rent or manage your property? Do you trust them? Don’t just choose the cheapest agent or the highest “valuation” – for example are they experienced and are they regulated?
- Preparation & Compliance
For example, make sure your home is in tenantable condition, prepare your property for marketing, think about it from the tenants’ viewpoint, order your EPC and arrange your Gas Safety Check Certificate. The EPC should be made available for tenants. It is also prudent to carry out a complete and professional inventory detailing the original condition and contents of the property with date stamped photographs. This helps act as a reference point for any potential disputes during or at the end of the tenancy.
- Advertising & Marketing
It is important to understand exactly what your agent will do to attract potential tenants and achieve the best rental price possible. Where will tenants see your property?
- Viewings & Feedback
Arranged viewings will be accompanied unless otherwise agreed. Feedback and reaction is given within 48 hours.
- Handling Offers
As soon as a potential tenant is found your agent should contact you to inform you of what they have offered and any special conditions to help you decide initially whether or not you would like them as your tenant. Some agents also operate on a fair “first come first serve basis” which works very successfully. They can also arrange for you to meet the tenants should you wish.
- Tenants, Checks & Referencing
After an offer and tenant is acceptable in principle you letting agent should be able to carry out comprehensive checks and referencing. This is the first step to ensuring the quality of your tenants. At this stage, a tenant may be rejected or will be invited to sign the tenancy agreement, pay the first month’s rent and deposit.
- Preparation & Signing of the Tenancy Agreement
The preparation and signing of the tenancy agreement for the tenant will be carried out at this stage. The tenant will be invited to sign the tenancy agreement, pay the first month’s rent and deposit.
- Completion & Move In
Congratulations! You have successfully rented out your property. Now the management and maintenance begins. Your agent will release a set of keys to the tenant on move in day or the Property Inspector to carry out check-in and inventory inspection.
At Black Horse Property we care. We take great pride in contacting you and the tenant to make sure you are enjoying your forward move and your experience with Black Horse Property.
Wanting to learn more information on the letting out your property? Visit the Knowledge Room.
Letting your property at a glance...
- Letting your property requires time, money and dedication, especially if you want to maximise your rental returns.
- The rental market remains buoyant with rental prices having increased.
- We’re no strangers to the Bradford & Shipley district when in comes to the property market.
- A strong reputation for results, success, personal service and professionalism for over 12 years and counting.
- Remember rental prices may have increased on paper but in reality tenants’ wages have either remained the same or have been reduced. Consider your rental price carefully.
- The key to renting quickly is addressing three main things: 1) Price 2) Condition 3) Location
According to RightmovePlus data in early 2012 it took just 9 days on average to turn our “To Let” sign into a “Fully Let” sign.
- Renting your property is only half the battle that’s where a good management agent will come in.
- A great letting agent will be able to guide your through the entire process and make a justifiable action plan tailor made for you. Especially the legalities and other important matters to consider before making your decision to rent. For more information visit our Knowledge Room.
Heard enough? Book your FREE no obligation Market Appraisal & Proposal Meeting to discuss pricing recommendations and provide a rental assessment. Click here.
Some Hints & Tips from the helpful & proactive property experts...
Making the right move when it comes to letting and managing your property in the Bradford and Shipley district can be difficult especially when it comes to understanding where to start, how to comply and ultimately find a quality tenant quickly for the best possible price. Your letting and management agent of choice should be able to help reduce the stress and time involved.
Here are some generic thoughts for your consideration when letting.
- Ensure the property is tenantable, safe, clean and tidy.
- As a landlord ask yourself: Would I live there? Would I pay that rent? Be honest.
- Is it the best of first impressions?
- Is it better to get a quality tenant for longer than 6 months? Perhaps ask a fairer rental price?
- Take care of unwanted odours like smoke and pet smells – not everyone’s cup of tea.
- Fix any minor maintenance problems and address any major problems.
- Make sure you’ve decided what type of tenants you want or can only get.
- Make sure you’ve decided whether to accept pets or whether the property is to be furnished.
- Remember any furniture provided is your responsibility and must be fully compliant.
- Order your energy performance certificate (EPC), gas safety certificates and electrical testing (if applicable).
Remove any unwanted items, furniture or personal belongings from the property in readiness for the tenant.
- Obtain permission and consent to rent out your property where applicable. You will need to inform / apply to your mortgage provider for approval and also get permission from your freeholder.
- Notify your insurance company and it may also be worthwhile getting quotations for appropriate landlord insurance.
- Provide three sets of keys to the agents. This is so Black Horse Property retains a set and two sets are provided to the tenants.
Your agent should be able to give you more specific pointers that should help the successful rental and management of your property.
Visit our Knowledge Room to find out more about letting and / or download our Letting Guide.
Hello. We are Black Horse Property of Bradford & Shipley.
Black Horse Property is a general practice firm of property agents who are committed to being outstanding in all we do every single day. We provide a full range of property services including property sales, property management, lettings, maintenance and energy performance certificates (EPC’s). We’re here to help with all your property matters. So, whatever your needs, look no further.
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