Tips for landlords
Our objective for Landlords is clear; find the right tenant for your property who will pay a full but fair market rent. We aren’t afraid to do things differently to achieve this goal. As an independent we are more agile than other high street agents, so we can change direction quickly to find the right approach for you and your property.
To get your property ready to rent, here are some things to consider:
When do you want to let your property?
You should contact us at least 8 weeks before you want to let your property. This will give us ample time to market your property and find a selection of prospective tenants.
Remember, it’s not just the price tenants are willing to pay that counts; you also need to be comfortable that they are the right tenant for your property.
- The Notting Hill and Kensington rental market is extremely competitive. A potential tenant will expect to view immediately; sometimes within minutes of coming into our office or calling us. Keep your phone with you, as you will receive calls from us asking to access the property.
- If the property is currently occupied, inform your tenants that they will receive calls from us requesting permission to view. We will always give tenants the required notice.
- If you’re flexible on your move date, this may help enormously in negotiations with tenants as they may be keen to move in sooner than the advertised date.
- Some tenants may ask for small changes to be made to make the property more ‘homely’. For instance, they may ask for furniture to be added or taken away. They may also ask for some minor works to be carried out and we are here to guide you on whether or not these requests are commercially viable.
Presentation of your property
You want the tenant to imagine themselves living in your property. If the property is looking a little tired, take some time to bring it back to its best. This could include:
- A thorough professional clean of the whole property
- Giving fixtures a fresh coat of paint
- Replacing damaged or tired looking furniture or flooring
- Tidying up outdoor spaces
If you don’t have the time or don’t live locally, our Property Management Department may be able to help you with these improvements.
If you’re currently living in the property or have tenants there, make sure the place is tidy, welcoming and free from clutter. Homely touches such as fresh flowers, an open fire and pictures on the walls can make a huge difference. Create a welcoming aroma, with fresh cut flowers or scented candles. If possible, open windows to give rooms a good airing and always keep the windows clean.
Consider the up-front costs
There are several up-front costs associated with letting your property which you’ll need to budget for. Most can be deducted from the first instalment of rent – these include; Gas Safety Certificate, Energy Performance Certificate, Electrical Certificate, Inventory, Tenancy Agreement Fees, Commission Fees.
Guiding you through the legislation
The rental market is heavily regulated and rightly so. Our dedicated lettings team can help you comply with the relevant rules and regulations pertaining to the rental of your property.
View our guide to landlord rules and regulations
Consider Property Management
Today’s tenants have high expectations, particularly if they are paying premium rent. Some tenants will only consider properties that are professionally managed.
Property Management can be crucial in getting maximum rental returns on your property.
If you instruct Mountgrange Heritage to manage your property, we will look after the general day-to-day management, as well as more complex issues such as emergency repairs, collection of rent, transfer of utilities and much more.
Completing the process
Upon receiving an offer from a prospective tenant, we will contact you with the details and negotiate on your behalf. If you choose to accept the offer, we make sure the arrangement of the tenancy goes smoothly, by:
- Collecting references from the tenant(s)
- Preparing and arranging the signing of Tenancy Agreement by both parties
- Collecting the initial rent and deposit
- Organising an inventory to be prepared and checked with the tenant
- Transferring the utility accounts