ONE Estates has a complete package for Landlords looking for a managing agent. You can rely on ONE Estates to take all the hassle out of renting your property or properties. You can find out more about this here.
We have used our expertise in the rental market to put together this guide to help.
1. Purchasing a Property
If you do not already have a property to let, we have a list of properties for purchase, some of which are ideal for a would-be landlord. You can find out more about these properties here. If you cannot see your ideal property listed here, then simply pick up the phone and let us know more about your requirements and we will use our knowledge of the property market to find you your ideal property.
2. Your Buy-To-Let Mortgage
ONE Estates have huge experience and a great reputation for mortgage brokering. We have whole-of-market access, and work independently. We will carry out a tailored fact-find to discover all we can about your situation and requirements, and report back with a selection of products that have been screened to be the best options available. Our mortgage lenders can provide either interest-only or repayment mortgages depending on your preference.
Please get in touch if you require a buy-to-let mortgage.
3. Marketing
When your property is ready to be marketed, ONE Estates will be on hand to ensure that you get the most appropriate tenant in the minimum amount of time.
We will visit your property and capture all information required to market it successfully, including photographs, layout and information about amenities.
We will market your property on our website, via online property portals, and to our existing database of prospective tenants.
Having vetted enquiries, we will carry out viewings to your property and in doing so, build a shortlist of prospective tenants. We will carry out appropriate due diligence on all prospective tenants on this shortlist, and share information with you so that together we can agree on the best tenant to meet your requirements.
4. Prior to Moving In
We would be more than happy to help you with any due diligence that is required on prospective tenants. Our experience is invaluable here – we will be able to help especially if we are able to meet with the tenants.
Further to this, we will carry out all necessary checks and preparation, including credit references, references from previous landlords and the Tenancy Agreement itself. We can also prepare a fully itemised inventory of the property and furnishings with photographs.
5. Compliance and Contracts
The rules governing landlord compliance are getting more and more onerous, so there’s never been a more important time to ensure that you are working within the legal framework.
At ONE Estates, we are experts in compliance and process. This means that we will ensure that you meet all the compliance requirements in the minimum amount of time. This will include health and safety checks, utilities and securing the tenant’s bond.
If you take our ‘fully managed’ service, then we will handle the entire process, including annual reporting, property visits and utilities scheduling.
Regarding contracts, ONE Estates will manage the whole of the process on your behalf. We will draft a contract to cover the period of letting. This will be a combination of all legal requirements plus any specific requirements that you might have, for example smokers/ non-smokers.
6. Maintenance
Whilst your tenant will be responsible for your bills during the period of their tenancy, as landlord you are responsible for any maintenance that might be needed on the property. This covers anything to do with plumbing and drainage, boiler repairs and service, as well as gas and electricity safety checks. Your tenant is responsible for smaller repairs such as batteries, light bulbs and fuses. They are also responsible for day to day cleaning of the property and, if it is in the contract, the outside area such as the garden.
It is important that all of the above is summarised in the legally binding contract so that during or at the end of the contracted period, there is no ambiguity on either side.
7. Commercials and fees
There is a long list of commercial fees and expenses associated with letting a property. Outside of those that are linked to a mortgage (for example mortgage interest, stamp duty, legal costs etc) you need to factor in income tax, maintenance expenses, safety checks and insurance.
We can help when it comes to calculating the amount of income tax that you will incur. Whilst this figure is liable to change, we are constantly monitoring budget changes in order that you won’t be met with any surprises.
Our extensive network of tradespeople will ensure that not only is any maintenance issue dealt with, but it is done so at a price that is appropriate for the property. We will give you as much information on the likely costs at the start of the process.
This same network also support us with annual checks that need to take place for health and safety, gas and electricity supplies.
We have a professional network of insurance companies that we know and trust to cover the building insurance that you will need. They are also on hand to speak to you if you think you require rent insurance.