Summer and the beginning of autumn have traditionally been known as the peak period for lettings. So, with this in mind, we have put together our top 5 tips for landlords and tenants to ensure a smooth and easy lettings process during these busy months.
In London, demand comes from students looking for accommodation before the start of term, graduates starting new jobs and families relocating closer to schools, with many more tenants aiming to secure a new home before the academic year commences. Which is why you may need to consider these points below.
Top 5 Tips for Tenants:
1) Be proactive.
Register with all established lettings agencies in your area and keep in touch with them. Properties often start being marketed before they get onto the agent’s website or Rightmove, so being the first one to receive a call will provide an advantage in a competitive market.
2) Keep your mind open.
Being prepared for the search of your new home by identifying your absolute must-haves in a property is important. It will help speed the process up even further if you know the aspects you can possibly compromise on. If you did find a property you love within five minutes of the nearest tube station, how important is it that this apartment does not have a back garden? Let your agent know from the beginning which aspects are essential and which, if the rest of the property is perfect, you could potentially manage without.
"Know the aspects you can possibly compromise on"
3) Get your ID and finances ready.
In addition to signing a contract, you will need to pay moving in monies via cleared funds. This means paying the deposit, the first rental instalment and agency fees in full. The only accepted form of ID is a valid passport (with a relevant visa if applicable) to satisfy Right to Rent checks. Preparing these in advance can save you valuable time and result in a quicker move in date.
4) Prepare your referees.
All tenants have to provide references. Have your referees primed and ready to provide a reference to avoid unwanted delays.
5) Be decisive.
If you find a property that you like, then consider making an offer straight away. High-quality properties attract a lot of interest, so acting swiftly can help to secure the property in a busy marketplace.
Top 5 Tips for Landlords:
1) Make use of marketing opportunities.
From high-quality professional images and a profile on leading property websites to a presence on estate agent’s apps and in national newspapers – there are plenty of opportunities to help promote your property. A well-established estate agent will offer all these services free of charge to make sure that the exposure of your property is maximised.
2) Keep up to date with current landlord obligations.
With landlords’ legal responsibilities in the UK changing frequently, make sure to read up on the latest regulations by visiting local and national government websites regularly and signing up to receive updates from them.
"Make sure to read up on the latest regulations"
3) First impressions count.
Decisions on a property are made within the first few seconds of entering, and can sometimes be made even outside the front door. With plenty of available properties to choose from, ensure that yours is looking its best. Get cracking now on any maintenance or decorating jobs on your to do list.
4) Meet expectations.
Tenants today expect a professionally managed property alongside high-quality fixtures and furniture. When it comes to move in day, they also expect an independent inspection of the property and a professional clean organised by the landlord – have the arrangements in place to save yourself any unnecessary last-minute hassle.
5) Speed is of the essence.
If you don’t respond to the tenant’s offer promptly, or can’t be reached in order to finalise the contracts, then the tenant might move on to their second choice of property. Make sure your agent knows if you are going to be away, and check your messages regularly or at a set time each day so that you don’t miss out on the perfect tenant.
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