Lets Rent Cambridge logo
call-to-action call-to-action-mobile

Landlord Guide

Landlord Guide

Search for properties

Property type

Minimum price

Maximum price

Minimum bedrooms

Letting property can be a good financial proposition but there is much more to being a landlord than collecting the rent. Whether you are considering renting out your own home or entering the buy-to-let market this letting guide offers considerable useful advice on becoming a landlord. It’s always best to use an agent like Lets Rent Cambridge who for your peace of mind are ARLA Licensed and hold Client Money Protection.

With our constant desire to improve the quality of our service, we are always at the cutting edge of the lettings and property management industry.

We are aware that many property owners new to lettings will have a lot of questions which we are only to happy to answer. New landlords will want to rent out their property as quickly as possible for the best price, they will want to know what type of tenant will live in the property and will they take good care of it? We know that they will want to avoid empty periods and guarantee a regular income.

Some essential points to note is try and keep a relatively open mind about potential tenants. Don't become too emotionally attached to the property and try to distance yourself from the process.

Preparing the home that is to be let is also important, ensuring that it is in good decorative order, tidy and that repairs have been carried out. The better the condition of the house the better quality tenants you will attract. First impressions are important and any problems with the home will not go away. In fact they are likely to get worse. If problems are not sorted quickly you could lose your tenant.

Services

Lets Rent Cambridge will competently guide you through the letting process and your legal obligations as a landlord.

We offer experience in tenancy laws, knowledge of market conditions and expertise in finding and retaining good tenants to fully maximise the return on your property investment.

There are no complicated legal terms, no hidden fees or clauses, just an easy to understand process and help all throughout the tenancy. We understand that every landlord and property is different, we will tailor make our proposal to you.

Lets Rent Cambridge let each landlord decide how much involvement they want in the management of the property, we understand that everybody has a different requirement and expectation.

There are two main services offered, Fully Managed or Let Only.

With both these services we will:

  • Advise as to the likely rental income.
  • Advertise and market the Property.
  • Interview prospective tenants and taking up full references through an independent credit reference agency, as well as doing a full credit check on the tenant they take out references including employer and previous landlord. Where necessary, additional security would be requested by means of a guarantor. In the case of a company, a full company reference would be taken.
  • Prepare the tenancy agreement necessary for the Landlord to gain protection of the relevant Rent and Housing Acts, and renewing the agreement where necessary at the end of the tenancy term (a fee of £72 will be charged for a new tenancy agreement to be drawn up)
  • Taking a deposit from the tenant, dealing with this deposit under the requirements of Tenancy Deposit Scheme until the end of the tenancy when the Property and contents have been checked for unfair wear and tear.
  • Collecting the first rental payment and paying it over to the Landlord less any fees or expenses due or incurred to prepare the tenancy. Payments will be made by direct bank transfer and a detailed rent statement will be forwarded to the Landlord. Arranging meter readings and providing the tenant with contact details of the relevant utility suppliers at the beginning of each tenancy.
  • Employing a third party to carry out a full property inspection and arranging an inventory check at the end of the tenancy providing a report for the Landlord to asses and agree any deductions with the tenant prior to the agent releasing the deposit.

The additional services for our Fully Managed service include:

  • 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. Payments will be made by direct bank transfer and a detailed rent statement will be forwarded to the Landlord.
  • Regular inspections of the Property are carried out.
  • 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.
  • Making payments on behalf of the Landlord from rents received for costs in managing the Property.

Preparing Your Property

Decide whether you want to let your property furnished or unfurnished?

Its good if you can offer both options, as this means we can market it to a wider group.

However, generally tenants prefer unfurnished properties. In terms of decorating and soft furnishings, keep it fresh and neutral as a well maintained, a clean property will attract good tenants.

The safety of tenants is very important, so a Gas Safety check must be carried out every year and a Gas Safety Certificate must be in place at the start of the new/first let.

We advise that an Electrical check is carried out. An Energy Performance Certificate (EPC) must be in place before we market the property and they are valid for 10 years.

Smoke alarms to be fitted on every floor of the property and carbon monoxide alarms fitted where solid fuel is burnt.

Lets Rent Cambridge strongly advise that an Inventory is completed at the start of each new tenancy. This can help if there are any disputes at the end of the tenancy when the tenants vacate. Professional cleaning is recommended at the start of the tenancy.

Please note that we can arrange all of the above for you.

At Lets Rent Cambridge we put a lot of effort into ensuring your property receives the maximum exposure to the widest possible audience so as to find the right tenant and guarantee the best possible price.

With the internet being the new high street, with over 90% of tenants searching for properties on the web, we put a lot of importance on online marketing and advertising. Not only do we advertise your property on our website, which receives thousands of local visits a month, but your property will be listed on all the major portals, such as rightmove.co.uk, zoopla.co.uk, globrix.com, primelocation.com, lettingsearch.co.uk, findaproperty.com