Landlord Process

Here we give you a step by step on the process of letting your property. Being a landlord is a business, at Diamond Move Estate Agent we understand your business.


1Accurate valuation

The rental market is a fast-moving market, the fluctuations really stems from supply and demand. Getting an accurate rental valuation at the time of it being available taking into consideration the time of year and market conditions is important. Too high and it will NOT be Let. Contact Us for a FREE valuation and utilise our in-depth industry knowledge to your advantage. We will advise you on a realistic rental value taking into all consideration the current state of the local market.

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2Consider Property Management

Being a landlord is a business, if you have to time to invest your time in your business great! … but if like many you do not, then you need reliable staff members like any business requires.

This is where we come in. As landlords ourselves we understand the business of being a landlord, as an agent we understand the skill and expertise needed to serve a landlord.

Together with the mountain of legal obligations to abide by along with being compliant; let us take the strain and manage your property for you. We can ensure that you are protected in every way and we will work hard to make sure you’re not out of pocket financially.

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3Preparing your property for Marketing

When preparing the property for advertising, it’s always best to tackle any wear and tear before rather than after. When a prospective tenant enters your property, you want to show them that you have the perfect property for them to call home. Paint areas that require painting but most importantly give the property a deep clean.

Cleanliness and well presented homely properties are a major decision factor for a prospective tenant.

In some cases, depending on market conditions at the time, you could potentially achieve more rent for a property that is well presented, clean and modern.

4Marketing your property

The rental market is a busy market, hundreds of properties are being advertised at any one time. Ensuring you stand out and ensuring you reach a larger audience than the property available around the corner is very important.

Remember, empty property means you are losing money, so to find a suitable tenant within an appropriate time frame is crucial to minimise empty void periods between tenancies.

At Diamond Move Estate Agent in Hounslow, we have a successful marketing strategy utilizing not only the property portals, but social media and cutting-edge communication technology available to reach that bit more than the property around the corner.

If you get STEP 1 and STEP 3 right – you can swiftly move to STEP 5

5Receiving an offer

Its important to note one thing – when finding a suitable tenant its not always about money. Its about the professionalism, attitude and personality of the person or people who are interested in your property.

Just because they earn a lot of money to afford the rent does not make them suitable candidates for you.

At Diamond Move Estate Agent, we carefully vet and assess all offers that come in. Before they view a property, we already know the approx. income and employment details as well as number of people in the party. So, if they offer, we already know that subject to referencing this aspect should be fine.

But what we want to know is has this tenant got the right attitude and professionalism to conduct and abide by the legal obligations expected?

At Diamond Move Estate Agent we choose a tenant like we are choosing a tenant for our own properties.

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6Offer agreed

Once we have vetted all offers, we will present the offers to you via email, followed by a phone call. This will advise you who has offered along with all the details you need to know to make an informed decision.

Once you accept the offer, we will proceed to take a holding deposit which currently by law is no more than one weeks rent. This will be a refundable deposit subject to tenant providing true and accurate statements.

7References checked

Once a holding deposit has cleared our client account, we will proceed to conduct reference checks on the tenant/s. This will include:

  • Credit check
  • Income verification – Up to 3 months’ pay slips
  • Employers reference – confirming financials and employment and employment status
  • Vet up to 3 months bank statements
  • Check and verify ID documents and Visa to ensure right to stay and work in UK
  • Landlord / Agent reference

Remember all offers are subject to successfully passed referencing.

Once we have completed our checks, we will share with you the final report we get from our referencing agency.

8Move In Monies taken and agreement signed

Once all referencing is completed and deemed satisfactory, we then ask the tenants to pay their first months rent and security deposit.

Upon receipt of cleared funds, we will arrange for the tenancy agreement to be drawn up and signed by all parties.

IMPORTANT: All deposits MUST be protected in a Government approved deposit scheme. Diamond Move Estate Agent currently have a DPS custodial account which you a free to use at no extra charge.

9Move In Date

Prior to this date its important to ensure the following points are done….

  • Any maintenance works carried out and finished
  • Any furniture if required to be present
  • Professional cleaning to be done no earlier than 2 days before the move in date

At Diamond Move Estate agent, we conduct a final inspection prior to the new tenant moving in to see if every thing is in order and minimise any issues when the new tenant arrives.

On the day of move either a member at Diamond Move or our Inventory clerk will meet the tenant at the property and conduct a handover and take meter reading.

Once successfully moved in – Diamond Move Estate Agent will then transfer all monies owed subject to deductions agreed in advance.

If the property is managed by us, we will change over any utility bills into the new tenants name.

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Hounslow Property Blog

Bringing the latest updates on the market conditions in Hounslow and Surrounding areas. Being an Agent is not about selling or letting properties, but being able to share our expertise and knowledge with you whether you are a Tenant, Buyer, Seller or Landlord.

At the Hounslow Property Blog we publish weekly articles dedicated to the latest trends and news on the Hounslow Property Market.

Landlord Process

Here we give you a step by step on the process of letting your property. Being a landlord is a business, at Diamond Move Estate Agent we understand your business.

Selling Process

Selling your property is a major step in anyone life. It can be stressful but it can be smooth. Here is a process to help you make this transaction as smooth as possible.

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Rental Affordability Calculator

Attention Tenant! Unsure where you will pass the affordability to rent a property?

Heres a calculator just for you to give you an indication of the rental affordability based on your combined income.

Online Auction / Auctions

When selling your property, explore every option available. Call 02085778855 for more info.

Recently Sold & Let Agreed

FREE Instant Online Valuation

Fees

Letting Fee Information

Refundable Holding deposit - Capped at 1 weeks rent

Security Deposit - Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent - The agreed monthly rent

Changes to tenancy - Capped at £50 inc VAT

Early termination charge - Not exceeding the landlord’s financial losses

Late payment of rent- Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys - Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc - Tenants own responsibility unless otherwise stated in contract

Fees may be charged on a per person or per property basis, please call us on 020 8577 8855