Letting Guidance & Tips
Our successful track record is built on a single-minded desire to provide a top-class, honest and transparent service, delivered by a highly trained and motivated team.
Letting Guide
As a landlord there’s lots to consider when it comes to letting your property. You will need to consider how to maximise your income, maintain and manage the property, meet all legal obligations and communicate effectively with your tenants. Here are our top 10 tips for landlords:
1. Know your audience
Working with you, Austin Hawk will establish the intended target market for your property and present it accordingly to maximise rental yield and to minimise void periods in between lets. We will help provide you with informed support as you make decisions throughout the length of your investment.
2. Understand the market
Austin Hawk can advise you on the best strategy for your property, how to maximise your income and what contract terms are most suitable for you. The letting market comprises many different segments, each with their own nuances and specifics. It is essential to choose an agent who understands how the market operates.
3. Ensure that your property complies with legal requirements
Residential tenancies have been subjected to a mass of complex controls and regulations ever since legislation was first introduced in 1915. Austin Hawk is bound by best practice guidelines ensuring that all relevant legislation is fully complied with and changes to the legal framework are communicated to our clients.
4. Prepare the property for marketing
Finding a good tenant quickly is key to maximising income from your property. Regardless of a property’s size, location or target tenant – those that let best are those in a modern, clean and tidy condition. Prior to marketing, make sure that the property is free from defects, has a fresh appearance and is clean with lights working and ready to be occupied.
5. Unfurnished or furnished?
This is always a tricky question on which to give advice, as there are usually tenants looking for both. The choice as to which way you decide to go will in part depend on your own investment considerations. As well as the strategy that you decide to adopt, to try and ensure that the property is let to your intended market as soon as possible.
6. ‘Let Only' or 'Managed'?
Think about whether you would like either you as the landlord or us as your agent to manage the property after it has been let. Ultimately this comes down to what is best for you. Some landlords have the time and experience to be able to deal with managing the property themselves, whilst others prefer to instruct an agent to do this for them.
7. Finding a suitable tenant
Having confidence in your tenant before the move is a must. All our referencing is done through Rightmove, who provide the most thorough tenant referencing to ensure that only high-quality tenants occupy your property. This includes credit checks, employment verification, overall affordability and rental history reviews.
8. Budget Sensibly
Property ownership carries with it risk of ongoing costs, often unforeseen. You’ll want to make sure that your financial planning takes account of mortgage costs and rises in interest rates, income tax, repairs and ongoing maintenance/improvements, late or non-payment of rent.
9. Have adequate insurance
Owners should notify their property insurers prior to granting a tenancy. If the property is being let furnished, the consent of the contents’ insurers will also be needed. It may be advisable to convert your Buildings and Contents Insurance to a ‘Landlord’s’ policy.
Landlords’ insurance includes cover for rent protection in the event of an insurable peril such as flooding or fire, malicious or accidental damage by tenants, property owners’ liability and landlords’ contents cover.
10. Choose agents wisely
Selecting an award-winning agent like Austin Hawk, who has a proven track record in letting and managing properties in your area and is regulated by a respected industry body, will significantly enhance your letting experience. A testament to our success is that a large proportion of our business originates from referrals made by satisfied clients who have recommended our services to their friends and families.
