10 Steps to Letting
1. Which landlord package suits me?
The lettings market moves quickly. You will need to decide what level of service you require. Hemmings Homes offers three bespoke levels of service, and each can be further tailored to your specific requirements. Our team of experts are always happy to discuss your needs in order to help you find a package which suits you.
2. How much rent can I charge?
Hemmings Homes are ideally placed to help you decide how much rent to ask for. With expert local knowledge, we can advise what the market value for your rental will be, and how much you can expect to receive each month. Hemmings Homes will also make you aware of all fees and costs related to lettings.
3. Find a tenant
The best way to find a tenant is by online advertising. Hemmings Homes advertise on all the major property portals including Rightmove, Zoopla and Letting web to ensure the maximum number of potential tenants see your property. Furthermore, our exclusive Client Database means that we have ready access to a large number of potential tenants.
4. Make sure your property meets ALL regulations.
Hemmings Homes team of letting experts will advise you what you need to do and when in order to meet all the requirements and legislations surrounding property lettings. We will keep you fully up to date if and when new legislation is put in place.
For additional security, make sure you are fully covered. Regular domestic policies often do not cover rental properties. It is also possible to insure against non-payment of rent. Ask a member of our specialised lettings team about our rental property building & contents insurance and Rent Guarantee Insurance.
6. The Inventory/Routine Inspections
Shortly before the tenant moves in, make sure you or your agent has made an inventory of the contents of the property and its condition. Hemmings Homes outsource this to a specialist company to ensure a thorough and professional service. Hemmings Homes will also make routine visits to the property, usually once per quarter, and provide a report to the landlord on the condition of the property.
7. Rent Deposit Scheme
You are legally required to put your tenant’s deposit in a government protected scheme. Hemmings Homes can do this on your behalf.
8. Maintaining the property
As time goes on, it’s inevitable that your property will receive some wear and tear. It’s your responsibility to maintain the property at the standard it was first let. Remember, keeping on top of small problems now could help you save large sums of money later.
9. Extending the tenancy
As the tenancy reaches its end date, Hemmings Homes will let you know 2 months before the end date if your tenant wishes to renew, if you are happy to renew the tenancy then a new tenancy agreement will be put in place. If you should wish to terminate the tenancy, we will serve the appropriate notice period and re-advertise. Our proactive approach will ensure we find a new suitable tenant and your property is not vacant any longer than necessary.
On the last day of the tenancy, one of our experience letting agents will agree to meet the tenant at the property to retake possession of the property and assess the condition of the property. A report will be sent to the landlord to approve and agree either a return of deposit or pass to the rent deposit scheme to claim any deductions for repairs.