Guide for letting your property
Having an empty property can be stressful.
The best way to maximise the return on your investment by acting fast in finding a reliable tenant who will pay the best price.
Michael Tuck Lettings have successfully let over 5000 properties in Gloucester since 1998. This makes us ideally placed to create this useful guide for letting your property.
Accurate market appraisal
Your aim should be to let your property at the best possible price, in the shortest time.
Our expert Lettings Managers let out many properties in Gloucester every month giving us unparalleled knowledge of rental values in your LOCAL area.
We will also make recommendations to assist with the marketing and advise you on your obligations as a Landlord.
Our valuations are free of charge so please contact your LOCAL Michael Tuck office and we will arrange a suitable time to value your property.
Inform all interested parties
It is essential that you have permission to let your property from your mortgage lender as well as your buildings and contents insurer.
If you require specialist Landlords buildings and contents insurance we will put you in touch with our trusted provider.
Preparing your property
In our experience, the better the property, the better the tenant. First impressions count to a successful let and therefore maximising your rental return.
Our experienced Lettings Team have let over 5000 properties in Gloucester since 1998 so we are ideally placed to give the best advice to ensure that your property is presented and maintained in the best manner.
Deciding your level of service
The Full Management Service is our most popular service available and takes away a lot of the stress caused by letting a property. If you are already an experienced landlord, we also offer a Tenant Find Only Service.
We will also discuss with you the type of tenant you would prefer to attract. You may wish to set restrictions such as no smokers or pets.
All of our Landlords fees can be found here
Marketing
Our comprehensive marketing campaigns ensure that your property will be seen by as many potential tenants as possible.
We advertise on all of the main property websites including Rightmove, YouTube, Zoopla, PrimeLocation and OnThe Market.
We will also display one of our distinctive “To Let” boards which we hope will be quickly replaced to a “Let It!” board.
The viewing
We encourage all tenants initially to conduct a virtual viewing on the Michael Tuck Lettings YouTube channel or the 360° Virtual Tour on our website.
We then accompany all physical viewings. Spending time with the viewer enables us to give you essential feedback to assist with your tenant selection.
The right tenant
Once we have found a suitable tenant we will ask them to complete a comprehensive application form and pay a holding deposit. Based on the information provided we will check that you are happy to proceed with the tenant in principle.
Our tenant vetting process is amongst the most stringent in the industry and includes a detailed assessment of the tenant’s ability to afford the rent, credit and ID checks, proof of residency and references from employers and current landlords.
Stringent checks are also carried out on guarantors should they be required.
Tenancy Agreement
Once the tenant has passed our vetting process and you are happy to proceed, we will draw up a tenancy agreement.
All of our tenancy agreements comply with residential letting legislation, are written in plain English, are easy to understand and contain no unfair terms and conditions.
They are designed to fully protect your rights as a landlord and are subject to regular review to take account of new legislation
Inventory
With our Full Management Service, we prepare a digital inventory showing the property condition, fixtures and fittings before a tenant takes occupation.
These inventories are approved by the Tenancy Deposit Scheme and include meter readings and a record of the keys handed over.
This document is extremely important as it will be used as the benchmark for the returned condition of the property (subject to fair wear and tear).
Completion
On receipt of signed contracts and cleared funds for the first month’s rent and deposit the keys will be released to the tenant.
Property Management
Our work doesn’t stop there! Once you your tenant has moved in Michael Tuck Lettings will continue to manage your property.
Rent collection
We have staff dedicated to the management and payment of rents to our landlords.
We pay our landlords promptly via BACS and closely monitor rent payments from tenants to ensure they are up to date.
You will receive a monthly statement to confirm that the rent has been paid and transferred into your bank account.
Inspections
Approximately six weeks into every Fully Managed tenancy, we arrange to visit your property to ensure that everything is going as you would want it to.
This gives us an idea of how the tenancy is likely to progress.
We will send you a written report including photographs of our findings, along with any recommendations for maintenance that we feel may be required.
Following our initial visit, you will receive a property inspection report every six months thereafter to keep you fully updated.
Maintenance
Over many years we have developed strong relationships with a wide range of professional local contractors.
The standards of workmanship are checked by our property managers to maintain a high standard.
All tradesmen that we employ are required to be fully insured.
Tenants are requested to report maintenance through our website which allows tenants to upload photos and provide full details of the problem they wish to report.
Checking tenants out
If in the event of a tenant deciding to vacate, we will act quickly and re-market your property to reduce any potential void periods.
We organise a full check out of the property to make sure that you are happy with the condition it has been left in.
In the unlikely event that deposit has to be retained, we will liaise with the Tenancy Deposit Scheme, so everything is dealt with professionally and legally.
This is where our full colour photo inventories are essential.
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What is the minimum term of a tenancy agreement?
The minimum term for an Assured Shorthold Tenancy is six months.
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Do I need to be at home during viewings?
No. We will accompany all viewings, and, in our experience, buyers and tenants are more likely to provide us with constructive feedback when the owner isn’t present. We will always inform you in advance of all viewings and are happy to hold a spare key if it’s more convenient.
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How much does an Energy Performance Certificate cost?
A valid EPC is required prior to marketing property for both sale or rent and costs £120 (£100+VAT).
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How long will it take for my house to go to market?
We can normally launch your property to the market within 48 hours. Once we have received the go ahead, we will need to arrange a suitable time to visit your property to take measurements and photographs so we can prepare the listing. We will also need to undertake Anti-Money Laundering checks and you will need to complete our Terms and Conditions and a Property Information Questionnaire.
