Planning is the key to a successful rental,we take most of the preparatory work off the landlord’s shoulders.
There are now approximately a million buy-to-let landlords in the UK. Low interest rates on savings have forced more and more of us to invest in bricks and mortar but there’s more to it than just return on investment. The process of letting a property can be a complex and time-consuming one, but the rewards can be considerable when you get everything right.
Becoming a landlord can be a daunting prospect. With so much you need to know and consider before taking the leap, it’s a step that should not be taken lightly. It can be very rewarding though; a well-performing portfolio, carefully managed, can provide an income now, and a pension pot in years to come. Getting it right from the beginning can save you time, money and a lot of sleepless nights!
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Why should you choose us?
LV PROPERTY is one of Birmingham’s leading and most innovative Estate and Letting agents.
Your appointed agent will then prepare market research including recent rents achieved for nearby properties, measure a floor plan so an accurate estimate for the rental can be calculated.
At the meeting, your agent will discuss your specific requirements including the type of tenant you want, whether you would prefer private lets or corporate clients, and whether the property will be let furnished or unfurnished.
What makes us different is our passion and enthusiasm for selling and letting homes. The key to our success is our approachability and willingness to listen, understand and respond to our client’s needs.
We are known for our authority on the local market and straight talking good advice which clients appreciate. Experience has taught us a unique empathy with clients and we always apply discretion, humour and integrity as any situation dictates.
We are extremely flexible and always try to accommodate our client’s busy lifestyles and commitments and can do valuations or accompany viewings out of office hours seven days a week.
Getting the presentation right
If the property is to be let furnished, we recommend a neutral / contemporary style of furniture in order to appeal to the largest pool of potential tenants. It must, of course, be fire-retardant in compliance with legislation.
Your dedicated agent will be able to advise on presenting the property for letting, including such essentials as getting it professionally cleaned, retouching paintwork and, if unfurnished, bringing in enough furniture to show the apartment at its best.
We can also deal with formalities such as obtaining the energy performance certificate (EPC) and the gas safety certificate.
Huge Online Exposure
Your agent will outline a marketing strategy tailored to your individual needs, with the right mix of online promotion, advertising in the press and materials such as our high end property brochure.
Experience has shown more than 90 per cent of tenants search for new places online. Which is why we will focus on advertising your property on the major property portals as well as reaching out to our wide and carefully managed database with a view to getting an instant match.
All viewings will be accompanied by the letting agent, who will handle negotiations for the best deal possible. LV PROPERTY will also handle all the necessary background checks on potential tenants, including taking up every reference without fail. We will also prepare the Shorthold Tenancy Agreement with any individual requirements you may specify.
Finding the right tenants
With time, energy and even a bit of money spent now, it could really make the difference to how quickly you let your property and how much rent you can charge.
Consider what type of accommodation you are going to let and also how you are going to find your tenants:
How will it be advertised – for example, two bedrooms with a study, or three bedrooms? The first may well appeal to a professional couple, whereas a family will be attracted to three bedrooms. Families tend to stay longer, but your property will suffer more wear and tear, especially if your tenants have young children. You’ll need to weigh up the pros and cons of each.
What are your circumstances – if you live a long distance away, or even abroad, you need to take this into account. Having someone ‘on the ground’ who can take care of any emergencies and general maintenance issues can give you and your tenant peace of mind.
These different considerations can affect how much time, effort and expense will be incurred in the let and management of your rental property and it’s worth spending some time planning before you even buy the property.
As well as securing the best tenants for our landlords, LV also offers a complete tenancy management service. This means we:
- Assess potential tenants by obtaining references from previous landlords, carrying out credit checks and if necessary, checking employment references.
- Draw up all legally required documents, such as the Tenancy Agreement and Tenancy Inventory.
- Manage the check-in and check-out at the property.
- Collect the rent and pass it to you.
- Be on hand for any repairs and maintenance issues throughout the tenancy. At LV we work with a team of excellent tradesmen to make sure work is carried out efficiently and as cost-effectively as possible.
- Carry out interim inspections at the property to make sure it’s being looked after.
- Provide you with professional advice and guidance at any stage of the tenancy.
Administration Process Covered
We will happily take on and manage all the administrative detail such as taking and holding the deposit under the Tenancy Deposit Scheme, sorting out keys and ensuring you have as many as you need. We will also manage spares and dealing with tenancy renewals as required.
For landlords based outside the UK, we have the experience to guide you through the complexities of obtaining non-resident landlord (NRL) approval from the tax authorities, after which the rent can be passed on free of tax.