Ready to let your property?

First steps to letting your property

There are a number of items all property owners need to be aware of when becoming a landlord, whether you are an investor landlord or you just want to utilise your property to receive income.

The regulations for rental homes are constantly changing, and SLL will make sure that all our landlords are up to date with all the requirements to being a successful and compliant landlord. Some of the steps below are regulation and some are good practice. We will appraise your property free of charge and advise all the steps you might need to take. We don’t just rent your home and forget about you, we stay in touch throughout to make sure your property is looked after and you remain compliant.

Everything below can be explained further during our visit, or in the office.

  • Signed Agency Agreement, having read both sides, with the necessary sections completed
  • Two full sets of keys plus another two front door keys and any alarm instructions
  • Completed permissions sheet and property information form
    Once steps one, two and three are completed, we can assist you with everything else whilst starting to market the property:
  • Energy Performance Certificate – this must now be a minimum rating of E, so should be high on your agenda
  • Landlords’ Gas Safety Certificate
  • PAT Tests (for furnished properties only)
  • Electrical Installation Condition Report (EICR)
  • Electrical Safety Certificate (NICEIC)
  • Landlords’ building and/or contents insurance policy
  • Consider health and safety (see H.H.S.R.S.)
  • Install one smoke alarm on every floor and a carbon monoxide detector in every room, with a gas appliance or solid fuel fire (with the exception of cookers/hobs)
  • If we organise works before the property is let we will endeavour to take the funds from your first rental income, but reserve the right to request payment earlier for any works organised on your behalf.

Of course we also make sure we can find the right tenant for you. We believe that the extra diligence at the start of the tenancy provides longer tenancies and greater continuity. We will talk through with you how we promote your home and use our partner organisations to introduce your new tenant.

We also work closely with Smeaton, Holmes and Newby, Chartered Accountants of Dalton in Furness. SMN will be able to help with any queries you have to keep your tax affairs for your rental income current and compliant. Please ask for details when we discuss your rentals with you.

For more information, please contact us.

What our Managed Service covers:

✅ Advising as to the likely rental income and general “lettability” of the property.
✅ Advertising and marketing the property across all of our promotional portals and contacts.
✅ Arranging for promotional signs to be erected at the property, and removed once the home has been let.
✅ Attending property prior to viewings to prepare for prospective tenants viewings.
✅ Attending viewings and interviewing prospective tenants and taking up full references for tenant and guarantor.
✅ Arrange for regulatory checks to be conducted, prior to start of tenancy.
✅ Formation of the legal documents and tenancy agreement at start of tenancy.
✅ Provide the tenant with the mandatory How to Rent Guide prior to tenancy.
✅ Liaising with a Landlord’s mortgagees where necessary with regard to references and tenancy agreement.
✅ Carrying out the initial right to rent checks in accordance with the Immigration Act 2014.
✅ Administering the deposit from the Tenant, dealing with this deposit under the requirements of the scheme.
(There is a £29 Lodging fee with the provider for each deposit we administer).
✅ Compiling full Inventory at commencement of tenancy, and providing to landlord. Formally agreeing with the tenant on the condition of the property at start of the tenancy.
✅ Collecting the Rent monthly and paying over to the Landlord monthly (normally sent within 7 days of collection) less any fees or expenses due or incurred for the period.
✅ Notifying service companies (principally electricity gas & water) for meter readings and advising them of the transfer of service contracts to the Tenant at the beginning of each tenancy.
✅ Regular inspections of the Property are carried out on a quarterly basis or by request of landlord.
✅ Co-ordination of repair or maintenance including arranging for tradesmen to attend the Property and obtaining estimates where necessary, supervising works and settling accounts from rents received, (on instruction from the landlord).
✅ Making payments on behalf of the Landlord from rents received for costs in managing the Property. There is a 6% administration and handling fee where we have settled the trade account on the landlord’s behalf.
✅ Carrying out a full property inspection and inventory check at the end of the tenancy and. Liaising with the deposit scheme on the landlord’s behalf for return of funds.
✅ Arranging for cleaning and/or repairs at end of tenancy.
✅ Recording of all activities relating to the tenancy and correspondence with your tenant.
✅ Free advice on all aspects of the tenancy, and advice on changes in Property law or general updates to regulations.

Landlord Fees – we provide the Best Value in the area

At South Lakes Lettings we believe in offering value to our customers. We have been here since 2010, and we don’t feel we have to charge the higher fees of the other agents that are around. We charge a one off set up fee for every new property £150.00 plus VAT if the property is unfurnished and £200.00 plus VAT if the property is furnished. We charge 10% excluding VAT (12% including VAT) as our commission, lower than most local agents. Where there is a change in tenancy and we remarket the home we charge a fee of £59 (inc VAT) to cover the costs of erecting signage, photography and appointed viewings of the home. We don’t take commission where we are not recovering rent for you, so no retainers as with other agents. We charge a small fee of £29 (inc VAT) for the lodging and registering of your deposit with the custodial agency.

For full list of supplementary fees please call us to discuss. Tenant fees do not apply.

For information about our fee base and how we can help let your home please email the Contact form or call in to talk to one of our advisors about the rental returns for your home and how we keep our landlords compliant with the numerous regulations.