Determine the rental value of your property. Our valuer Carl King will go through the current market trends and give you an accurate value which you can expect to rent your property to a good tenant for. Carl will also cover our fees for management which will enable you to plan financially and learn what you can expect to return from your investment.
Make any necessary repairs or improvements. Before you put your property on the rental market we may advise of any necessary repairs or improvements. Preparing the property to be in the best condition possible will enable you to appeal to a better quality of tenant that will ensure you achieve a maximum return. Starting a tenancy with a property in A1 condition will also reduce the maintenance costs, make for a happier tenant and ensure longevity of the tenancy.
Choose the right letting agent. It is so important to instruct a capable letting agent to ensure your investment is looked after. At Alex Jones we have a great track record of success. We have won the Gold Award for the best Letting Agent in Ashton-under-Lyne from the Great British Property Awards 4 years in a row and we have recently won 2 Gold awards at the 2022 ESTAS awards for the best letting agent in Lancashire and the North West.
Choose the level of service. The two types of letting service that Alex Jones offer are a tenant find only service or a fully managed service: the latter being the most popular. If you aren’t an experienced property manager then we would definitely recommend a fully managed service to ensure a smooth and professional letting experience. More information on the different types of service can be found on the Landlord Fees section of our website.
Market your property effectively. At Alex Jones we use a professional photographer who takes lots of angles to make sure that your property is marketed in the best way possible. We get your property seen in the right places, that means Rightmove and on our social channels which are becoming increasingly important in the world we live in. Check out our Instagram and Facebook pages to see how our content can propel your property and make you stand out from the rest.
Accept a tenant. We will take care of all the referencing of tenants and only present applications to you that we believe will be good tenants. Usually we are able to give you a selection of applications to choose from and once you have chosen we will have them formally referenced through Rightmove’s referencing agency. This will include right to rent checks, credit checks, employment check, financial affordability check and previous landlord references will be taken. Once we have the green light from Rightmove then we are good to move forward with organising a moving in date.
Decide whether you want rent guarantee protection. We offer a comprehensive rent guarantee service through Rightmove which covers our landlords up to a maximum of £50,000 for one claim. Rent is covered in full until you get your property back and with the average time from a claim to a landlord repossession being 14 months it really is a no brainer. All legal costs are covered and specially trained solicitors would chase your tenant for the rent should they fall into arrears. It is often much more affordable than you think with most properties being covered from just £24 per month or £260 per annum. Please ask us for more information.
Agree on a moving in date and have the tenant move in. Once we have accepted a tenant we will agree to a mutually convenient moving date. You will not need to be present on this day as Alex Jones will sign everything on your behalf. Unless you want to, you will have no contact with your tenant and we will take care of everything.
If the property is fully managed Alex Jones will take care of the rest. As part of the fully managed service we will: notify the local council of the change of occupancy, collect the rent monthly and send it to you along with providing monthly statements, be on call for any tenant emergencies and quote for any necessary maintenance, remind you of any compliance documents which are required such as Gas Safeties, EPCs and EICRs, chase arrears or late rent payments and inspect the property after 4 weeks and then every six months thereafter. More info can be seen on our Landlord Fees page.
Moving out day. If the property is fully managed then Alex Jones will take care of all the moving out process including checking the property and dealing with the return of the deposit. From here you can either decide to re-let, take possession back yourself or sell. If you are re-letting through ourselves we will have already listed the property for rent, conducted viewings and hopefully have a tenant lined up to move in as soon as possible to reduce the vacant period. Whatever your plans we will assist you to ensure that process is as efficient as possible.