If you are thinking of letting your property this guide will lead you through and help you to understand the procedures if you are new to the process. If you have a query about any of the following points our friendly and knowledgeable staff are happy to answer your questions.
If you require further information or advice please contact our office where our experienced staff will be pleased to help you.
Simply click on the headings below to provide a brief explanation of each step in the tenancy process.
The first step is to appoint a local estate agent, who will value your property and make sensible recommendations on pricing and timescale. It is important to appoint an agent who is professional, realistic and has let similar properties recently.
Aimee Nichols, who oversees Luxe lettings team, will carry out the Luxe free appraisal service. To request a valuation of your property from Aimee call our office on 020 3551 6141
Alternatively please click here to complete our online appraisal form.
Preparing Your Home For Rental
Optimising your asset will ensure the best result so it is beneficial to complete any odd jobs that are needed prior to marketing. Try to visualise your property through the eyes of a tenant, inside and out. Potential tenants will often walk past your home before arranged viewings always try to create a good first impression. Reduce clutter, decorate neutrally and maximise light.
Let Only (Tenant Find)
This service is often chosen by experienced Landlords or those who wish to be actively involved in the management and day to day running of their properties. We recommend that a good understanding of the Housing Act 1988 (amended 1994) is essential together with a thorough understanding of current safety and deposit regulations.
Our facility here is chosen by Landlords who wish for us to look after the legal and rent collection aspects of the let, whilst they look after repairs and any other issues which may arise. The main features of this service are;
collecting the monthly rent which will then be sent to the Landlord. Our accounts department will send you a statement showing the transfer of funds. (at the point of renewal we will advise if a rent increase should be negotiated upon the extension of a contract)
Our fully managed service allows Landlords to ‘sit back and unwind’ safe in the knowledge that their property is being professionally looked after by an experienced and dedicated team. We deal with the day to day maintenance issues that may arise throughout the tenancy dealing with maintenance issues, quotes, repairs, and refurbishments.
Every three months a routine property inspection is carried out for our landlord’s peace of mind especially if you an overseas Landlord. (Remember that if so, you need an NRL Number obtained from HMRC).
Maintaining your property throughout the Tenancy (Management Only)
We will carry out interim inspections of the property. The first inspection three months after the commencement of the tenancy, and we will notify the Landlord of any serious defect of the premises or contents, or which is duly notified by the tenant.
Thereafter, inspections will be on a six monthly basis unless otherwise needed.
Luxe Property and Financial Services will arrange emergency repairs when urgent action is required and for minor repairs to the property, payment to be derived from the rental income.
We can arrange quotations from reputable local contractors where necessary and then proceed with the Landlord’s authorisation.
Energy Performance Certificate (EPC)
It is important to make EPCs available to prospective tenants. The EPC and recommendation report must be made available, free of charge by the landlord, to all prospective tenants at the earliest opportunity and no later than written details concerning the building, provided in response to a request for information from the prospective tenant, are received;
a viewing of the rental property is conducted;
before entering into a contract to let the property.
A number of regulations govern the letting of residential properties and all landlords must comply. This legislation includes the safety of gas appliances and electrical equipment in addition to furniture and furnishings that are included in the tenancy. More details are available in the landlord pack we will provide you with.
No matter which service you choose from our team, we will ensure two things which are as follows:
* That all necessary safety regulations are carried out at the initial stage of the marketing of the property.
* We will endeavour to reference all tenants with Homelet so we can offer all our Landlords a Rent Guarantee Scheme.
On receipt of your signed Confirmation of Instruction Agreement, we will be ready to begin marketing your property. Luxe Property will tailor our service to meet your property’s needs. This will include a property-specific marketing campaign, maximising exposure of your property and ensuring we achieve the best possible price on a timescale that suits you.
Luxe Property will organise photographs of your property. From this we can prepare property particulars, and, subject to your approval and receipt of an EPC, upload them to our website available to our substantial database of prospective purchasers.
We will accompany all prospective tenants to your property, and report feedback to you. We will then discuss offers through with you.
When we receive an offer we will discuss with you the price they are willing to pay, the tenants timescale and likely duration, background, i.e., where they work/study and any special requirements they may have. We will also discuss timescale for both parties and advise you of our opinion on the offer. All offers will also be confirmed in writing either by letter or email. Any of these offers will be subject to satisfactory references and are not legally binding on you or the prospective tenant at this stage.
Once an acceptable offer has been received and accepted by you, we will follow up the necessary references and report back to you with the results.
When references are received and have been approved, we will arrange for the Tenancy Agreement to be drawn up and signed. This is a legally binding contract clearly defining the rent that is payable, duration of the tenancy, yours and your landlord’s rights and responsibilities and the scheme under which the damage deposit will be held. It is very important you read and fully understand the terms and conditions of this document.
This agreement is to be signed by both parties prior to the commencement of the tenancy. All monies, including the six-week damage deposit and one months’ advance rent in cleared funds, are to be received by Luxe Property before we will release keys to the tenant.
An inventory clerk will complete an accurate list of your property’s contents and an assessment of its condition. This report will be forwarded to you for your records. On termination of the tenancy, this report will be used to ensure the contents and condition has been duly maintained, barring day-to-day wear and tear.
Congratulations – your property is now let by Luxe Property and Financial Services!