Information for Landlords
Are you interested in renting out your student property? Are you unsure of the basics?
The following list will give you some idea of what is involved:
Step 1. The Market Appraisal
Do you know what the current market rent is for your student property? Is your property in a prime location for Student letting? Are you aware of all of the legislation surrounding Houses in Multiple Occupation (HMO)? On a completely free, no-obligation basis we can discuss all of this with you, ideally at the property, giving you a full appraisal of your property and the market in general.
The student rental market in Exeter is fast-moving and ever-changing, make sure you have up-to-date advise from a company who specialise in the local market!
Step 2. Selecting an Agent
When choosing a Letting Agent, consider their opening hours, when they will be available to conduct viewings, their online presence and what kind of marketing your property will receive.
You should also check if your agent will organise your government-required Energy Performance Certificate on your behalf or if you need to arrange this yourself? Hellier Ridley can arrange this for you. You must have commissioned an EPC before your property can be marketed. We will also advise on an regulations concerning Houses in Multiple Occupation, gas and electrical safety and the associated requirements.
Step 3. Consider Property Management
Property Management can be the key to reaping maximum rental returns on your property. Many tenants insist on renting managed properties and are often prepared to pay a premium for this.
Instructing Hellier Ridley to manage your property gives you peace of mind that both your property and tenant will be cared for 24/7. We dedicate our time to look after the general day-to-day management and more complex issues such as emergency repairs, collection of rent, transfer of utilities and much more. We will regularly inspect your property and will keep you appraised of how everything is going.
Step 4. Presenting your property
First impressions count, making the presentation of your property critical to a successful Let.
Consider addressing any DIY jobs you have been meaning to get done, add a fresh coat of paint where necessary and try to declutter to make rooms appear larger.
We will then arrange for the property to be photographed, produce floorplans and write comprehensive property descriptions, all in just one visit.
Step 5. Marketing your property
To find your perfect Tenant you need to give your property maximum exposure across a wide range of media.
When you instruct Hellier Ridley to advertise your property you will automatically benefit from our comprehensive marketing package, including: exposure on our website, full colour property details, inclusion in our weekly email newsletter and SMS alerts and PR. We connect with our Tenants using a wide range of media in order to offer your property the best exposure.
Step 6. Accompanied viewings
Our longer operating hours are essential to maximise viewing opportunities for your property. We don’t stick to the 9 to 5 so if someone wishes to view late in the evening or over a weekend then we will do our best to accommodate. Accompanied viewings also mean we can use our expertise to help rent your property, and also gain useful feedback which might influence future marketing decisions.
Step 7. Receiving an application
As soon as an application is received we will contact you to communicate full details of the interested party along with any special conditions to help you decide whether or not to accept.
Step 8. Application agreed
Once you accept an offer we will do the following, regardless of whether your property is managed or not:
- Collect references from the tenants
- Arrange signing of Tenancy Agreement
- Collect moving-in payment (rent + deposit)
- Carry out check-in and inventory (if instructed to)
- Organise Gas Safety Inspection and Portable Appliance test (where necessary)
For your added peace of mind, we will hold the deposit as a stakeholder and register this with a deposit protection scheme, resulting in a faster and more efficient deposit release process at the end of the tenancy. This is included for free in our managed service however is charged as an optional extra at £30 per tenancy for our setup service.
Step 9. Preparing your property for tenancy
Before you Let your property you must obtain a professional and comprehensive inventory. This will set out the condition and contents of the property which is essential when it comes to deposit returns. Hellier Ridley can carry out a professional inventory on your behalf, again the cost is reduced for managed tenancies.
Step 10. Move in!
Once the referencing process has been completed, all paperwork signed and the initial funds paid, the keys will be released to the tenant on moving-in day.
For managed properties, we will provide the tenant with our contact details for any ongoing correspondence. We will also provide Tenants with a move-in pack with copies of all relevant documentation, emergency maintenance instructions
Congratulations, your property is now let!