The lettings process can be a complex and time-consuming task for landlords, but it’s an essential part of renting out a property. In this guide, we’ll take you through the key steps involved in letting your property.

1. Preparing your property for rent

Before you start looking for tenants, it’s important to ensure your property is ready for rent. This includes making any necessary repairs, cleaning the property, and ensuring it meets safety standards.

2. Setting the right rent

Determining the right rent for your property is crucial. You don’t want to price your property too high, as this may deter potential tenants, but you also don’t want to price it too low, as this may reduce your rental income.

3. Advertising your property

Once your property is ready and you’ve set the rent, it’s time to start advertising it to potential tenants. You can use various platforms, such as online listings, social media, or local estate agents, to reach a wider audience.

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4. Conducting viewings and selecting tenants

When you start receiving enquiries from potential tenants, you can arrange viewings of your property. It’s important to ask the right questions and conduct background checks to ensure you select reliable tenants. 

5. Preparing the tenancy agreement

Once you’ve selected your tenants, you need to prepare the tenancy agreement. This should outline the rights and responsibilities of both the landlord and the tenants, including the rent amount, the length of the tenancy, and any other terms.

6. Collecting deposits and rent

Before the tenants move in, you’ll need to collect a deposit and the first month’s rent. You must also protect the deposit in a government-approved scheme and provide the tenants with the necessary information.

7. Maintaining the property and managing the tenancy

Throughout the tenancy, you’ll need to maintain the property and address any issues that arise. You’ll also need to manage the tenancy, such as responding to queries from the tenants and carrying out regular inspections.

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