A step-by-step guide to letting your property
Having an empty property can be stressful. Maximise the return on
your
investment by acting fast in finding a reliable tenant who will pay the best price.
Step 1 Accurate valuation
Your aim should be to let your property at the best possible price in the shortest possible time. Our expert valuers carry out thousands of valuations every month giving us intimate and unparalleled knowledge of property values in your area.
This is why we consistently achieve the asking price across all our clients' properties.
Call us on 0800 369 8667 or complete the rental valuation request form.
Step 2 Selecting an estate agent
When choosing a letting agent consider their opening hours, when they will be available to conduct viewings, their high street presence and what kind of marketing your property will receive. These are critical to obtaining the maximum rental value for your property.
You should also check if your agent will organise your government-required Energy Performance Certificate (EPC) on your behalf or if you need to arrange this yourself? You are responsible for making this document available to prospective and future tenants. Foxtons can arrange this for you.
Step 3 Considering a short let?
Letting your property as a short let (for a period of up to six months) can be an ideal solution as you will benefit from the following: high returns on your property, rent paid in advance, flexibility of commitment, minimum void periods, Property Management and often high quality corporate tenants.
Step 4 Benefits of Corporate Services
Foxtons Corporate Services assists hundreds of companies who are looking to find properties for their employees.
Letting your property through this specialist department has the benefit of a wide variety of applicants from reputable companies, willing to pay a premium for high levels of service and peace of mind.
Step 5 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 Foxtons to manage your property gives you peace of mind that both your property and tenant will be cared for 24/7. Your dedicated Property Manager will 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.
Step 6 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.
Foxtons' team of dedicated professional 'Protographers' will then take photographs, create 360° tours, produce interactive floorplans and write comprehensive property descriptions, all in just one visit.
Step 7 Preparing your property for tenancy
Before you let your property for the first time you must obtain a professional and comprehensive inventory. This will set out the condition and contents of the property. Foxtons will carry out a professional inventory on your behalf.
Long term tenancies (6 months or more)
You are responsible for checking that the tenants have set up accounts with utility companies, telephone supplier, council tax and TV licensing.Short term tenancies (up to 6 months)
You will retain responsibility for the utility accounts, council tax and TV licence, as these costs are included in the rent. The tenant will be responsible for any telecommunication services.
Step 8 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 Foxtons to let your property you will automatically benefit from our unrivalled, comprehensive marketing package, including: exposure on our award winning website, full colour property details, inclusion in our monthly Area magazines and key property titles, email and SMS alerts and PR.
Step 9 Accompanied viewings
Our longer opening hours are essential to maximise viewing opportunities for your property - in fact over 40% of our viewings are carried out after work and at weekends. Accompanied viewings also mean we can use our expertise to help let your property.
Our offices are open 9am-8pm Monday to Friday and 9am-5pm Saturdays, Sundays and Bank Holidays. In addition, our phone lines are open 8am-8pm, 7 days a week.
Step 10 Receiving an offer
As soon as an offer is received we will contact you to communicate full details of an offer along with any special conditions to help you decide whether or not to accept.
Step 11 Offer agreed
Once you accept an offer we will do the following, regardless of whether your property is managed:
- Collect references from the tenants
- Arrange signing of Tenancy Agreement
- Collect moving-in payment (rent + deposit)
- Carry out check-in and inventory
For your added peace of mind, where applicable 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.
Step 12 Completion
Upon completion, keys will be released to the inventory clerk or the tenant on moving-in day.
For managed properties, we will provide the tenant with contact details of their dedicated Property Manager.
Congratulations, your property is now let!
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Want more information? View our detailed guide about letting a property
We have created a comprehensive checklist to guide you through the letting process. View it online.
