The 10 Step Letting Process
The 10 Step Letting Process
Gain A Clear Picture of Your Market
You will probably be aiming to let your property at the best price, to your ideal tenant in the shortest time possible. To achieve this, you will need to understand the market and where your property sits within it. Our team of professional valuers have the expert knowledge and insight to assess your property’s market and how to maximise your rental returns.
Receive a Webb & James Valuation Report within 24hrs
Our valuation reports will summarise everything discussed and include:
- Local supply/demand market conditions
- Type of let for best yield
- Comparable properties in the area
- Licensing requirements
- Tenancy and property compliance requirements
- Any suggestions to increase property’s appeal and rent level
- Target rent level
Unlocking Your Property’s Potential
Our reports also provide some insight into how your revenue potential could be further increased. Sometimes a few simple (and low cost) changes can significantly increase the market appeal of your property. We also consider future (higher cost) changes that could add significantly to the long term yield and capital value of your property such as converting rooms to bedrooms or adding off-road parking.
The way ahead
If you are ready to proceed with marketing, we will agree the rent level and lettings profile with you in our Terms of Business. You will also be assigned a direct point of contact – an expert to help you navigate through the process and someone who is always available to answer your questions.
Preparing and Presenting your property
First impressions count; the presentation of your property is important to attract the best tenants.
We will get professional photographs taken, prepare a floor plan and 3D walk-through, ensuring that we capture your property’s best selling points.
Consider completing any DIY jobs you have been meaning to get done, re-do the sealant in the bathroom and add a fresh coat of paint where needed.
Before you let your property, you must also have particular safety certificates in place and ensure compliance with your legal obligations. Webb and James can advise on everything needed to let out your property, we can even arrange for the certificates and checks to be done for you.
Not sure whether to furnish your property? - Read our Furnished vs Unfurnished guide to find out more.
To find your perfect tenant you need to give your property maximum exposure across a wide range of media.
Webb & James Marketing Package
When you instruct Webb & James to let your property, you will automatically benefit from our comprehensive marketing package including:
- A detailed listing on the Webb & James website
- Listings on the UK’s largest property portals
- Highly targeted online display advertising
- Bespoke communication to our database of motivated tenants
- Social media posts on Facebook, Twitter and Instagram
- Online presence with our local community partners
- Press advertising in carefully selected publications
We also ensure all staff are briefed on your property so that no matter who answers the phone or conducts a viewing, they are always knowledgeable. This knowledge helps match tenants to properties, contributing to the many successful lets to tenants who initially enquired about another property.
Finding the Perfect Tenant for Your Property
We focus on finding the right tenant for you - we know the success of the tenancy depends on it.
The right tenant will look after your property in a ‘tenant like manner’, pay the rent on time, facilitate routine safety checks and inspections etc.
These are serious contractual obligations so every potential tenant must go through our detailed qualification process to ensure they are a good fit before viewing your property.
We don’t pay our agents on commission
However, the perfect tenant is not necessarily the first to request a viewing or make an offer - which is why we do not pay our agents on commission - each one of our negotiators is motivated to find the right tenant for your property, not necessarily the first.
Accompanied Viewings & Feedback
One of our team will accompany all viewings. At the end of each viewing, we will let you know what the potential tenant thinks together with our analysis and thoughts.
Viewings are the perfect opportunity to gain further insight into potential tenants; we use our expertise to ensure they are matched to the right property.
Where tenants are still living in the property, we ensure that viewings are at convenient times and escorted throughout.
Viewing feedback is essential to understanding a property’s strengths and weaknesses. Listening and if necessary acting on feedback ensures the property remains attractive to tenants and the marketing strategy correctly focused.
Receiving an Offer - Negotiations
The most successful tenancies are win-win for both landlords and tenants. Our expert negotiators work hard on your behalf to secure the best terms for you while balancing the interests of your tenant.
Once a tenant has decided that your property is their ideal future home, they will complete an offer form which will include the full details of the proposed occupiers. As soon as this is received we will contact you to communicate the full details along with any special conditions. You may wish to read about some points to consider when negotiating.
We will help to maintain momentum through negotiations while ensuring you are comfortable with, and fully understand the terms being discussed.
Offer Agreed - Referencing
Upon acceptance of the offer, tenant referencing is conducted by a third party to ensure impartiality and thorough due diligence. Tenants will have to pass affordability thresholds, credit checks, employment and previous landlord references. Referencing is usually concluded within 48 hours.
With a successful tenant reference and credit check, you will have the option to purchase rent guarantee insurance to protect against loss of income in the event of a tenant default.
Setting-up a Compliant Tenancy
With both parties confirmed as happy to proceed, we aim to provide certainty to both parties by generating and finalising the tenancy contract within 48 hours.
The average initial tenancy length is 12 months with a 6-month break clause.
Our team will arrange any necessary safety checks and pre-tenancy works, collect the moving-in payment (1st month’s rent and deposit), conduct deposit registration and issue the requisite documentation. We will also advise you on the relevant landlord legislation and obligations that must be complied with including Right to Rent checks.
Tenancy Start - Moving In
We will read the utility meters and ensure your smoke and CO alarms are working on the 1st day of the tenancy. We will also ensure your tenant knows the important unique information relating to your property including water stop-cock locations and how to work the boiler and programmer. If instructed, we will also ensure a full Inventory and Schedule of Condition is carried out.
Congratulations! - Your Property is Now Let
Avoid the awkwardness of chasing tenants for late rent by using our rent collection service
For those not on our essential or premium management service packages, we do offer a rent collection service.
With this service tenants can log-on to monitor their account, receive reminders by text and emails well as monthly rent statements. If, for some reason, a tenant ever fails to pay, we follow a robust, formalised credit control procedure to resolve and recover rent payments on your behalf.
Don't want to be on call 24/7? Consider Essential or Premium Property Management
Property Management can increase your rental returns as many tenants insist on renting managed properties and will pay a premium for this.
Instructing Webb & James to manage your property gives you peace of mind that both your property and tenant will be cared for 24/7. Our team of dedicated Property Managers will look after the general day-to-day management and more complex issues such as emergency repairs, tenant issues, collection of rent, deposit returns, refurbishment works and much more.
Only you know how much time you have to handle day to day tenant and property issues. Webb & James can tailor the level of service to suit your needs; you can be heavily involved or just relax knowing your property is in capable hands.