If you decide to let your property, there are a number of things to think about. Haybrook estate and lettings agency have been letting properties in Sheffield, South Yorkshire for over 15 years.
We have put together a lettings process guide to assist you every step of the way.
Step one - Research
Researching the local area properties for rent in Sheffield and South Yorkshire can give you a good guide of prices for properties similar to yours are being let for.
Whether you are looking to manage the letting of the property yourself or your are looking for an agent who can not only find you tenants but also manage the property, it is important to research local letting agents to find the right agent to let your property. There are a number of lettings agents in Sheffield and South Yorkshire, so selecting the right agent for you can be tricky. Take a look at our 'Selecting the right letting agent' guide
Step two - Valuation
Once you have researched letting agents in Sheffield and Yorkshire that you would consider using, ask at least three to visit your property and carry out an up to date valuation. Most letting agencies provide these for free, and it is helpful to have at least three so that you are confident of the price your property could achieve.
This stage also helps you to get to know the agents more so that you can identify which you feel with work best for you.
Step three - Choose an agent or let yourself
Considering whether to choose a Lettings Agency to manage your property? It is a real advantage to use a professional Lettings Agency to manage your property/properties for let. Here are some of the advantages of property management services:
- Property management services will co-ordinate all rent collection, giving you piece of mind;
- Your tenants benefit from a fully managed property and having a 24/7 service should there be any problems that need immediate attention;
- Day-to-day management issues and emergencies can be handled for you taking the stress and worry off your hands;
- Businesses looking for accommodation for members of staff will quite often prefer using a property management service;
- Yearly inspections and safety checks such as gas safety certificates are taken care of for you;
- Property management services will have a directory portfolio of local contractors such as plumbers, electricians and builders who will not only give them very competitive prices but will also be trusted and approved;
- Many property management services will also provide you with legal advice should you need it.
Step four - marketing your property
Once you have chosen the agent you wish to use, it is time to put the property on the market. Getting your property ready for viewings will help you to get your property ready for professional photography that is needed for your marketing. Read our getting your property ready for viewings guide to help get your started.
Don't forget to allow plenty of time before a photographer arrives to take images of the property so you can ensure it is as presentable as possible.
The marketing of your material needs to include:
- Good quality, full colour property details which include a floorplan of the property and the Energy Performance Certificate (EPC).
- Listing on the letting agent’s website - these listings should include a detailed write up of your property, the rooms and their dimensions, quality images, location map and street view of the area around your property.
- Listing on the major property portals such as Rightmove and OnTheMarket.com – again you need the detailed write up of the property particulars and a good range of good quality images of your property.
- Coverage in local newspapers and magazines. If the lettings agent you chosen has their own lifestyle magazine or property printed media, ensure your property is also included in this.
- PR opportunities in local and national press where possible.
- Email and SMS property alerts to potential tenants who are interested in a property like yours in the area.
- Professional signboards to promote your property at all times, should you agree to have one displayed outside your property.
Step five - Viewings
Now that your property is on the market, it is vital to ensure you home is ready for viewings! Basic things like keeping your property clean and tidy can help fo any unexpected viewings therefore decluttering beforehand can help free up space and keep areas tidy. If you plan any redecorating, it is important to chose neutral tones to allow it to appeal a larger number of people. It will also be useful to carry out those small repairs that make a big different like mending the guttering.
Before a viewing takes place, ensure you make your house comfortable by putting the heating on if it is cold outside or opening windows if it is too warm. Get rid of any odours such as stale smoke or odours from pets by opening the windows. Fresh bed linen, fresh flowers or putting coffee onto brew just before a vieiwng are also great ideas for adding homely touches and nice smells!
Read our preparing your property for viewings guide for more tips.
Step six - Getting the let agreed
Once a potential tenant has expressed their interest in renting your property, it is time to take the steps needed to get the let agreed.
There are a few tasks your chosen lettings agent is now responsible for, whether they are managing the property or not:
Written communication to all parties to confirm the rent, how regular the rent is paid (e.g. weekly, monthly etc.) and any conditions of the tenancy.
Obtaining references from the tenants and a guarantor if this is required.
All parties will need to read and sign the Tenancy Agreement.
Collect payments owed for the tenancy to start, such as the deposit and the first month’s rent. All deposits should be registered with a deposit protection scheme.
Carry out the inventory list and condition report. A copy needs to be provided to the landlord and the tenant(s) to ensure both sides are satisfied.
You will need to carry out a professional and comprehensive inventory report. This will set out all the items that are in the house such as carpets, any furnishings etc. It also needs to set out the condition of any of the contents. The tenants and the landlord should be supplied with copies.
At the start of any new tenancy, you must ensure your new tenants have set up the necessary accounts and transferred names for providers of utilities (gas, electric and water) and have provided meter readings if requested by the utility companies. They will also need to set up accounts or transfer the names for telephone suppliers, council tax and TV licensing. If this is only a short-term tenancy, the landlord remains responsible for the utility accounts, council tax and TV license, therefore it is important to ensure they are included in the rent. The tenant will still need to set up accounts for telephone services.
Once all is complete, you can set a moving day that is mutually convenient to yourself and the new tenants.
Step seven - Completion
If the lettings agency holds the keys to the property, you will need to instruct them to release these to the tenants on moving day. If the property is to be managed by a property management service through the lettings agency, it is important the tenants are given the contact details.
Congratulations on successfully letting your property!
If you would like to speak to your local Haybrook branch about letting your property, visit our branch finder page - our dedicated lettings teams will be delighted to help you.