The Advantages Of Using An Estate Agent When Letting Property

How Portland Estate Agents Can Help You When Letting Property

Whether you’re a first time landlord or an experienced investor, using a letting agent can add value to your portfolio. At Portland, we offer three different levels of service, however our approach and support is completely bespoke to you, and not just an off-the-shelf product. By helping to minimise void periods through proactive management and a database of possible tenants, in addition to stringent referencing checks, a detailed inventory process, effective marketing strategies and handling issues as and when they arise, not only can we save you time and stress, but we also provide a cost effective service that keeps your property portfolio profitable.

Our competitive edge can be attributed to our high ethical standards, which in turn secures us a large percentage of repeat and referral clients. We will endeavour to achieve you the best possible rental figure based on current market conditions. All our advice is given based on our in-depth insight and understanding of the many changes within the market, and always with your best interests in mind. The advantage of using Portland Estate Agents is that we deliver on our promises, and get results.

Accurate Buy To Let Valuation

Get Your Buy To Let Property Valuation And Start Letting Quickly

Our sights are always set on the market, and our experience helps us to understand and pre-empt many changes, and also provide a true valuation of a property at any given time. By making use of industry-only data, and knowing about other local properties that have recently let, we can provide you with an accurate assessment of the rental return on your property. Should you be looking to purchase a property to let, we can assist you in calculating yields, finding property in hot rental areas, and thinking about ways to maximise your return.

Don’t be left with void periods; with an accurate valuation and our team’s tenacity, we will have a tenancy secured with the right tenant as quickly as possible.

Landlord Guide: Portland Letting Services

Experience or novice, this landlord guide can help you discover what you need from a letting agent, which is why we off three levels of service.

Let Only

Do you want to manage your own properties, but would like our assistance in finding a suitable tenant? Our let only service can provide you with exactly this, as well as expert guidance to ensure the tenancy is secured. We know how crucial it is to find the right tenant, and ensure that their references and credit checks are properly conducted. At Portland Estate Agents we will also prepare your Tenancy Agreement and administer the inventory, if applicable, as well as collect your first month’s rent and deposit. Then, as soon as your tenant is in place and the tenancy begins, we take a step back so you can manage your property as planned; however, we’re always on hand to offer any advice you need throughout the tenancy.

Letting & Rent Collection

Building on our let only service, letting with rent collection still leaves you with the overall responsibility for managing your property on a day-to-day basis, but we will support you with the collection of rent.

Providing you with a professional solution, we will collect the rent from your tenants and in turn pass this to you via BACS transfer. All deposits are taken and held as per the terms of the Deposit Protection Service (DPS). The benefit of this service is that it removes the strain of chasing rental payments, and you are kept abreast of your account through regular statements, which is also handy for your tax return.

Letting Service: Full Property Management

The most comprehensive of our services; full property management saves your time, resources, and money, and ensures you remain compliant, it gives you a complete solution for your individual property, or your whole portfolio. Handing over the responsibility for letting your properties from beginning to end is a huge decision, but one we know that you will be pleased you made. Our lettings service has grown organically through our reputation, and our strong and sustainable relationships across the sector.

Whether you manage 1 property or 100, the support you want from a letting agent can vary, which is why we adapt our service to meet your needs. From sourcing a tenant to fully managing your entire portfolio, discover more about our three levels of service.

	Let Only	Letting & Rent Collection	Fully Managed
Full marketing of your property, including quality images and floorplans	✔	✔	✔
Sourcing & Introduction of Tenants	✔	✔	✔
Negotiating Tenancy Terms	✔	✔	✔
Professional References, including credit checks, employers, previous landlords, accountants, and guarantors (if applicable).	✔	✔	✔
Right to Rent Checks	✔	✔	✔
Tenancy Agreement	✔	✔	✔
Arranging Energy Performance Certificate	✔	✔	✔
Arranging Gas Safety Certificate & Electrical Certificate	✔	✔	✔
Arranging an Inventory and Check-in of Tenants	✔	✔	✔
Collection of Initial Rent & Deposit	✔	✔	✔
Registration & payment of Deposit	✔	✔	✔
Ongoing Collection of Rent		✔	✔
Payment to you via BACS		✔	✔
Monthly / Yearly Rental Statement		✔	✔
Initial Arrears Chasing from Tenant		✔	✔
Notifying Utilities of Change of Occupancy			✔
Advising on Property Licence (if applicable)			✔
Main point of contact for your tenants			✔
Arranging Repairs & Maintenance			✔
Ongoing Property Management			✔
Periodic Property Inspections			✔
Right to Rent Follow Up Checks			✔
Arranging Ongoing Safety Checks			✔
Managing the Check Out Process with Tenants			✔
Advising on Deposit Deductions			✔
Organising Professional Cleaning			✔
Property Management while Vacant			✔

Marketing your Property

The marketing we undertake across our business is uniform, by which we mean that there is no difference between the dedication given to a property for sale and one to let. By focusing on the details, such as striking photographs, alluring property particulars, and clear floorplans, we can grab a prospective tenant’s attention. We combine distinctive listings on property portals such as Rightmove and Zoopla with targeted marketing campaigns.

Investment in advertising opportunities in the areas that have a proven track record for getting results means that we can reach a wide audience of potential tenants. We are skilled in turning their interest into viewings, and their viewings into potential offers. Our strong connections within the community extend our reach, and often result in properties being let quickly through local contacts, recommendations, as well as our strong database of quality tenants.

We target our marketing efforts to find you the right tenant, not just any tenant.

Finding your Tenant

To achieve a successful tenancy, you need to have the right tenant, so finding and choosing a tenant is the most important process. The perfect fit between a landlord and tenant can see a relationship last far beyond a 12-month contract, into years, thus eradicating void periods and providing you with uninterrupted income.

Our process of finding a tenant begins before you have even chosen us as your estate agent. By understanding our place in the lettings market and the needs of our typical tenants, we focus our marketing on attracting people who meet these criteria. By pre-qualifying all tenants, including full referencing, we can move swiftly when any offers are made.

Preparing your Property to Let

Tenants today expect the same standards of presentation as those who are buying a home. All clutter should be removed, and we would advise that you freshen up the décor, take care of all those little odd jobs, and give your property a professional clean before prospective tenants begin to view.

Furnished or unfurnished, your property needs to be in a good state of repair. The tenants we source seek properties to which they can add their own personal touch through furnishing. We have found that they are willing to pay more for a quality property, showing that the more care and attention you put into presentation, the more potential you have to maximise your rental income, and minimise potential void periods.

Inventory

For both landlord and tenant alike, the inventory is an essential part of the lettings process. To protect your investment for future lets and ensure impartiality on all sides, we instruct a highly regarded independent inventory company to conduct this process on your behalf. They will draw up a full colour inventory that records the exact condition of your property and furnishings prior to the start of the tenancy. They will also check-in and check-out your tenant in person to safeguard you, and them, from any bias or misinterpretation. Only with inventories of this nature is it possible to make any kind of successful claim against the deposit, due to their close attention to detail.

Advice

As a landlord you have a responsibility to abide by a number of legal regulations.

Condition

Your property must be in a good state of repair and appropriately maintained, under Section 11 of the Landlord and Tenant Act 1985. This includes the exterior and structure, and any issues related to the roof, drains, brickwork or guttering.

Deposit

We can arrange for your tenants’ deposit to be held within a government-approved Deposit Protection Scheme (DPS).

Smoke and Carbon Monoxide Alarms

At least one smoke alarm must be fitted on every floor of your rental property, and a carbon monoxide alarm where solid fuel appliances are contained. It is a tenant’s responsibility to change the batteries and check the alarms are working during their tenancy.

Gas

The Gas Safety Regulations 1998 state that all appliances, pipes, and flues must be maintained and safe. A Gas Safe registered engineer must complete any works, annual checks, and appropriate records kept.

Electrical

The law requires that all electrics within the property are safe, and electrical equipment is maintained to prevent danger. Regular checks should be undertaken by a qualified engineer and full records kept. As a landlord you need to provide your tenants with a record of any electrical inspections.

Houses in multiple occupation (HMO)

HMOs of more than 4 individual tenants and two floors need to be licensed. In addition, you many require further licenses from the local authority for privately letting a property, i.e. selective or additional licenses. Our team can advise you on what you will need.

Furniture

Any furniture and accessories used to furnish your property need to meet the requirements set out in the Furniture and Furnishings Fire Safety Regulations 1988. Items made in the UK after 1990 are most likely to meet the standards required, but always check.

Legionella

This disease is caused by contaminated water and is prevalent in homes that have been empty or unused for a period of time. Keep records of any checks and ensure your water system is working properly by flushing and running all the taps before you let the property.

For advice on tax, insurance, and other landlords’ responsibilities, please contact a member of our lettings team.