Consult third parties for advice
Mortgage lender: The lender may suggest you switch to a buy-to-let mortgage, which may come with different rates. The lender may also advise you on whether you should be looking for a short-term or long-term tenancy basis but will most likely recommend an AST (Assured Shorthold Tenancy), which is the most common type of agreement used by landlords to let residential properties to private tenants.
Freeholder: This is to ensure your legal entitlement. Most people do not realise that subletting properties may not be permitted when a lease is brought from a freeholder. It is essential to review your documents thoroughly, and if you have any doubts, our Lettings Team is here to help. Simply provide us with a copy of your lease, and we can help establish your eligibility to sublet the property.
Estate agent: Having the support of experienced estate agents is crucial. While finding tenants is often straightforward, it is not easy to find good tenants. Besides, a good estate agent can provide you with valuable knowledge of the current market conditions and how your property is positioned. They can generate interest for your property and help you find the perfect tenant through a targeted approach.
Consider the costs of letting your property
Consider how you will budget the costs for your property, especially for essential items such as:
- Repairs and maintenance
- Landlords’ fees
- Furniture and furnishings
- Regulatory safety upkeep in compliance with the general lettings guidelines for both furnishing and appliances
- Monthly mortgage payment for the property
Consider what kind of services you need from your estate agent and how they can support you in managing various phases of the letting process, such as:
- Organise the tenancy agreement and inventory
- Manage the start and end of the tenancy
- Organise rent collection from tenants
- Provide repair service and resolve other maintenance issues.
Want to find out more about our services? Simply contact a member of our team. All service packages include credential checks, the creation of tenancy agreements and inventory management.