Let agreed – what next?
Brilliant – you are a big step closer to letting your property! 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.
While the lettings agency are busy with the above, there are a few tasks that you, as a landlord, will be responsible for.
Whether you decide to manage the property yourself or you use a lettings agency, 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 furniture that comes with the house etc. It also needs to set out the condition of any of the contents. This becomes especially important should you need to make any deductions at the end of a tenancy for any damage – supporting documentation will be needed otherwise the tenants will legally be able to challenge this.
Should you decide to let your property through a lettings agency, this will usually be carried out for you each time a new tenant starts to rent the property and at the end of the tenancy. Both you and the tenants 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.
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!
Get in touch
If you would like to speak to your local haart branch about letting your property, visit our branch finder page - our dedicated lettings teams will be delighted to help you.