Landlords are you looking to source a self-employed lettings agent?

For many landlords finding the right agent is going to prove an important part of the equation because you want to make sure tenants are going to pay your rent on time and keep paying your rent without defaulting or falling into arrears. This is easier said than done as the cost-of-living crisis and the increase in rents is representing a big problem for tenant’s pockets. Already the rent tenants pay is about 35% of their annual income in London, this represents an affordability issue, it won’t get much better, if the supply/demand imbalance continues. And given that section 21 is going to be abolished many landlords are concerned that the courts won’t be robust enough to deal with applications promptly, potentially leading to extended periods of unpaid rent.

 

Therefore, choosing the right tenant becomes imperative via the agent you employ to make this happen!!

 

Lets Find A Home is a self-employed lettings agent company founded by Matt Matheou a landlord himself with over 25years experience as a professional landlord. Who started the business from what he perceived as a poor level of service provided by high street agents when instructing them to find him tenants for his buy to let properties.

 

For those landlords who are looking for an agent, following procedures below is an important part of the process.

 

Choosing the right agent

 

Create a shortlist of letting agents

It helps if you can get the list of agents you have to choose from down to three, then invite them out to do a valuation before you do this make sure you find out more about the agent such as following below:

 

  • Ask trusted friends and family – nothing is more powerful than someone you know offering their recommendation from recent experience.
  • Compare local agents based on their recent reviews online. After friends and family, other consumers are your next best point of reference.
  • It is also a bonus that your letting agent is affiliated with a professional body within the letting industry such as ARLA (Association of Residential Letting Agents). Reassuring you that your money is in safe hands and that they follow correct systems and procedures.
  • They must also have valid Public Liability Insurance, Property Redress Scheme and Client Money Protection these three legal documents are necessary and any agent who does not have them is flouting the law.

 

Valuation of Your Property

The agent also needs to show competence in valuing your property and look out for specific factors when doing so such as the following:

 

  • Who will rent out your property? i.e. students, couples, corporates or families.
  • Will it be furnished, part furnished or unfurnished?
  • Current state of repair and any works needed
  • Internal decoration – is it presented at its best?
  • Proximity to shops, transport links and schools
  • Is your property type in demand locally and will this change in the future?
  • Compare the rental value with other comparable properties in the area

 

Choosing the right service for you

Once you have chosen your agent, you need to consider how much involvement do you want with your property, tenant, rent collection and maintenance?

 

Our lettings services are set out in three categories for details on what each service includes click the links below:

 

 

Marketing your property effectively

 

We want to help you find the perfect tenant who is in a great position to rent your property. We know that there are three key factors for landlords:

 

  1. Getting you quick let
  2. Achieving the best price
  3. Peace of mind that your property investment is well cared for

 

Once the terms have been signed, we will:

 

  1. Instantly prepare your property details, complete with photographs, EPCs and floor plans and advertise your property on the major property portals including Rightmove and Zoopla.
  2. We will upload your property to our website. Your property has 3 seconds to make an impression online. We will make sure your property is presented in the best possible way.
  3. Contact our 'Hot Tenants' via phone and email and arrange viewings. We will ask you to share your live property link with your friends and contacts via social media.
  4. We will also provide virtual tour or video footage of the property in cases where we recognise the importance of getting the property exposed to a wider audience for the purposes of renting out your property to corporate clients and families.

 

We make sure your property meets the correct legal safety standards (certified gas inspections and EICR) as well as keeping up to date with UK Legislation. If there is a possible upcoming change, we will notify you in advance.

 

Receiving offers and preparing for your tenants

We like to accompany the prospective tenants to view your property so we can highlight the selling points and find out more about your potential tenants. Plus, it is more professional as we can answer any questions from the outset.

 

When a prospective tenant shows interest in your property, we will write to you and present the full details of the offer before your agreement. Once we have an offer which is agreed by you we will start the process to secure a tenancy which is subject to satisfactory references and contract.

 

At the start of the tenancy, you should provide a gas safety certificate and EICR. If you do not provide this, you cannot evict a tenant using a Section 21 notice.

 

It is now mandatory to carry out an Electrical Installation Condition Report (EICR) before a tenancy begins and we also recommend you carry out regular Portable Appliance Tests (PAT) on all appliances at regular intervals.

 

Smoke and carbon monoxide alarms
Regulation is now in place which requires all landlords to have at least one smoke alarm on each storey. These must be working and in addition to this, any rooms with a solid fuel appliance (wood stove) you should also install Carbon Monoxide alarms. On the first day of the tenancy, you must check these alarms; after that, the responsibility to check regularly lies with the tenant until their tenancy is over.

 

Energy efficiency
Legally, you must have an Energy Performance Certificate registered to the property. In April 2018, regulation came in that meant a legal property must have a

rating of E or above. You must provide tenants with your EPC as early as possible and tenants can ask permission to improve the energy performance of your

property and you cannot refuse consent. If the tenant is responsible for paying the energy bills, they can choose to have a smart meter installed.

 

Water safety
As a landlord you have a duty of care to your tenants to make sure your water supply is working properly to protect them from Legionella.

 

Furniture
There are three ways in which a property can be furnished when a tenant moves in:

 

  • Unfurnished: This does not mean leaving the property empty. Usually curtains, carpets and certain white goods will be included such as a fridge and cooker.
  • Part furnished: Part furnished will usually include curtains, carpets, specific white goods and larger items such as wardrobes, beds, dining table and chairs.
  • Fully furnished: This means the property is ready for move in. The specifics of what will and will not be included is down to the landlord and tenant to negotiate.

 

Why use a self-employed lettings agent

  • Personalised service provided – fewer clients more time for landlords to deal directly with one person, ensuring better communication and understanding
  • Cost effectiveness – lower operating costs meaning more competitive rates than larger agencies for the landlord
  • Local Market Knowledge – a deeper rental understanding of the local rental market, tenant demand and rental values
  • Tradespeople – self-employed agent also offers reliable contractors with no hidden fees on contractor’s invoices
  • Flexibility – out of office hours for viewings as opposed to standard working hours by larger agents
  • Greater attention to detail – more hands-on approach as involved in more aspects of the business which can lead to more care of the property
  • Less Bureaucracy – self-employed agents can certainly make quicker decisions and get things done quicker than large agencies
  • Familiarity – there’s more long-term relationships built with a self-employed agent as opposed to large agencies where turnover of staff can disrupt continuity
  • Specialists – many self-employed agents are also professional landlords this is big benefit over larger agencies who may often staff school leavers with little knowledge of the industry
  • Enhanced tenant relationship – self- employed agents often foster a friendly and approachable service for tenants which gives them confidence for smoother tenancy management

 

 

Call us now on 020 8870 5800 or email us for further information on info@letsfindahome.co.uk and we would be very happy to assist you.