A landlords guide to letting with Stags
Letting your home or investment
“There are many reasons why you may wish to let a property, often your biggest asset and investment. When doing so it is important when you ask a letting agent to help and advise, that they have the knowledge, experience and professionalism required to exceed your expectations.”
Andrew Luxton MRICS FARLA Partner, Head of Residential Lettings
This statement is at the heart of what Stags lettings team strive to achieve at all times. We understand that when you, as a landlord, instruct your agent to let either your home or investment, you do so in the clear understanding that your expectations will be fully met.
The successful letting of a property is a clear balance between achieving a good current market rent whilst securing the most suited and appropriate tenant for your property. Getting this balance right is the skill that we as a firm are able to provide.
Experts in letting and managing property throughout the South West.
Why Stags?
Strong South West Coverage
We have a linked network of 22 offices across the South West, plus The London Office, all of which can access our entire database. This exposure maximises our ability to promote your property to the widest audience of prospective tenants.
Quality Tenants
Our active databse of over 6,000 prequalified applicnats means we strive to provide you with tenant choice.
Digital Marketing
With an average of 200,000 monthly visits to our website we make sure your property will be showcased to thousands of potential tenants. Stags
Over 6,000 potential tenants looking for property
will also promote your property on Rightmove.co.uk and OnTheMarket.
Social Media & Advertising
Our dedicated marketing team will attract potential tenants via Facebook, Twitter, Instagram and Linkedin through engaging social media promotion. In addition, we advertise Stags properties in local and regional newspapers throughout the West Country.
Our Team
With experienced and knowledgeable staff supported by a dedicated accounts team we will deliver a service focused on maximising your return whilst maintaining your investments capital value. Our teams are kept up to date with all legislation and compliance changes, and
stags.co.uk receives, on average, over 250,000 visits every month.
undertake regular internal and external training.
Peace of Mind
As fully bonded and licensed members of the Association of Residential Letting Agents (ARLA), The Tenancy Deposit Scheme (TDS) and Royal Institute of Chartered Surveyors (RICS) we follow strict codes of conduct to ensure we maintain the highest professional standards at all times.
Proven Record
With proven low rent areas and minimal void periods our proactive approach to managing your property will provide consistent yield and return.
Stags’ average tenancy is 31 months.
22 offices throughout the West Country
Don’t just take our word for it...
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I have nothing but praise and gratitude for the service and support from Stags as a letting agent. They were great from the start of my tenancy to the end. Would highly recommend and be very happy to use in the future. Thank you for providing such a delightful, efficient and helpful service.
“
I have nothing but praise and gratitude for the service and support from Stags as a letting agent. They were great from the start of my tenancy to the end.
“ “
I have nothing but praise and gratitude for the service and support from Stags as a letting agent. They were great from the start of my tenancy to the end. Would highly recommend and be very happy to use in the future. Thank you for providing such a delightful, efficient and helpful service.
What we do
Our aim is to guide you through the process of letting and managing a property from beginning to end.
Market Appraisal & Due Diligence
No Obligation Market Appraisal
Initially we will arrange to visit your property giving detailed advice on the letting process to provide an accurate rental valuation based on the current market. We can also advise on any enhancements to increase the rental value of your property.
Legislation & Regulation
We will assist to ensure that you and your property comply with all current legislative requirements.
Safety & Compliance
Your property manager will guide you through the various safety and compliance measures that you need to be aware of, ensuring any necessary action is taken.
Insurance, Finance & Taxation
Although these will be based on individual circumstances we will advise so that you are aware of all your obligations and have the appropriate elements in place.
Marketing & Viewings
Property Preparation
How your property is presented can make a significant difference in the level of interest it receives. We will provide guidance on how to present your property so that it appeals to the widest audience of prospective tenants.
Market Launch
Once instructed we will produce detailed marketing particulars to include high quality photographs and room dimensions. In addition, details will be prepared for online digital marketing to
include property portals and social media, as well as local and regional newspapers.
Targeting Potential Tenants
We utilise our database of pre-qualified potential tenants looking to rent, to circulate details of your property meaning it reaches those looking for a property similar to your type of let.
Viewings
We conduct fully accompanied lettings on your behalf (unless the landlords requests to accompany). Our experienced staff will be available to carry out viewings six days a week and offer flexible weekend and evening appointments where possible.
Remarketing/Reletting
We will inform you as soon as your tenant notifies us of their intention to vacate. Following a rent review we will relaunch the property as soon as possible, minimising voids periods and helping to maximise your return.
Tenant Selection
Suitablility & Referencing
Finding suitable tenants is one of the fundamental elements of the letting process and we aim to provide landlords with a choice of suitable tenant. We will assist in assessing the suitability of prospective tenants using a specialist referencing agency to carry out rigorous checks.
Deposit
Prior to a tenancy commencing we will collect a deposit (in most cases the equivalent of 5 weeks rent) from the tenant and ensure that it is registered and protected within the Tenancy Deposit Scheme, where it will be protected for the duration of the tenancy, and provides an independant means of settling any disputes.
Tenancy Agreement
We will draw up the tenancy agreement appropriate for your type of tenancy and issue the required prescribed information and documents to the tenant.
Schedule of Condition & Inventory
A schedule of condition and inventory is a vital piece of documentation which
details the condition of the property to include outside areas and meter readings plus detailed photographs. This document is presented to the tenant at the commencement of the tenancy and provides evidence should a dispute arise at the end of tenancy.
Property Management
Options
Let Only
We will market and promote your property to secure a suitable tenant. Following satisfactory references and credit checks we will prepare a tenancy agreement and agree the move in. Once the tenancy has been completed we will handover the day to day management of the tenancy to the landlords.
Rent Collection
In addition to Let Only we will collect the rent on your behalf and transfer directly to your nominated account providing you with a statement each month. We ensure that all rent payment issues are identified and dealt with immediately.
Full Management
Our Full Management Services are designed to take the stress and strain out of managing your property.
In addition to the collection of the monthly rent we will ensure that all safety and compliance requirements are met and that maintenance issues are dealt with promptly. Your Property Manager will carry out regular inspections to ensure the tenancy is being conducted in a satisfactory manner as well as proactively advise on how to enhance the value of your asset.
Premium Management
For complete peace of mind our premium management service encompasses both our rent collection and full management service with the addition of the Stags rent guarantee. We will pay your rent whether the tenant has paid or not and also provide legal costs should action be required to regain possession.
Rent Reviews
We will use our expert knowledge of your property and the market to review and negotiate the rent on your behalf. We will ensure that you get the optimum balance between financial returns and tenancy duration.
Checkout Inspection
Depending upon your chosen service option, following the end of tenancy we are able to conduct a checkout inspection, provide a detailed report and negotiate the return of the deposit on your behalf.
Our service options
We provide a comprehensive range of service options, all designed to streamline the letting process, which we can tailor to your specific needs. We offer four main service packages as listed below.
Initial visit to assess and advise on the most appropriate way of letting
Marketing advice and guidance
Advice on legal obligations and property compliance
Organisation of EPC (if required)
Full colour brochure with photographs
Marketing through 21 offices plus The London Offiice
Extensive local and regional advertising
Properties available on Rightmove and OnTheMarket
Extensive database of potential tenants
Accompanied viewings (if required)
Full credit checking and referencing to include Right to Rent checks
Tenancy agreements prepared and exchanged
Collect and arrange for the payment of first month’s rent and deposit
Provide all required documentation to the tenant
Register the deposit with the TDS (Tenancy Deposit Scheme)
Set up standing order mandate for future rent payments
Continue to receive rents and remit with statement every month
Dedicated accounts team monitoring the payment of rent
Annual income and expenditure statement (if requested)
Make payment to contractors with copies of invoices sent to landlord
Arrange legally required safety checks
Preparation of schedule of condition/inventory
Notification to utility providers and local authority
Test of smoke/carbon monoxide alarms
Serving of section 21 notice
Negotiating tenancy renewal and preparing associated paperwork
Rent review and serving of Section 13 notice
End of tenancy inspection and negotiation of deposit return
Organisation of routine repairs and maintenance
Arrange renewal of legally required safety checks
Deal with ongoing tenant enquiries and issues
Regularly visit the property followed with a written report
Stags pay the rent within 28 days even when the tenant does not
Rent is paid until vacant possession is obtained (up to £15,000)
Legal fees covered for eviction and rent recovery (up to £100,000)
Void property management and inspections
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Additional services are available, see Stags scale of landord fees and Agency Agreement.
Key issues to keep in mind
There are a number of important financial, regulatory and safety issues that you, as a Landlord, need to be aware of and act on.
Energy Performance Certificate (EPC)
A valid EPC with a rating of E or above is required for all let property. The EPC rating must be included within all marketing and advertising material. Where required we can assist in arranging for an EPC to be carried out by a suitably qualified assessor.
Insurance
It is imperative that you insure that your property, to include fixtures and fittings by an insurance policy specifically designed for a let property. It is a tenants responsibility to ensure their contents are adequately protected for the duration of the tenancy.
Financing
Where a property is subject to mortgage finance you will need have consent to let from your lender. This may mean you will need to move to a buy-to-let mortgage.
Taxation
All rental income must be declared to HMRC. For most landlord this will involve the completion of an annual selfassessment tax return. For non resident landlords, where we are managing the tenancy, we will deduct tax where required and submit quarterly returns to HRMC your behalf.
Electrical Installation Condition Report (EICR)
Electrical supplies, fixed wiring and electrical equipment must be inspected by a qualified electrician with a satisfactory Electrical Installation Condition Report (EICR) provided. The inspection and recertification is to be carried out every 5 years with visual inspections recommended between tenancies.
Portable Appliance Test (PAT)
All portable appliances supplied by the landlord must be checked for electrical safety. Even unfurnished properties often contain appliances which fall under this requirement.
Fire Detection Equipment
As a minimum all let property must have a tested and functionally smoke alarm fitted on each floor of the property. Heat detectors are also advisable in kitchens.
Carbon Monoxide
Any property with a solid fuel burning or gas appliance must have a tested and functioning carbon monoxide detector fitted in the correct position within the room where an appliance is present.
Legionella Risk Assessment
Every landlord has the obligation to ensure
that their property is inspected and the risk of legionella bacteria assessed. Any areas highlighted to be of risk should be monitored with all possible steps taken to minimise the risk
Landlord Gas Safety Certificate
Any property with a gas appliance must be inspectied and certificated by a Gas Safe Engineer on an annual basis.
Chimneys
In most cases it is the landlords responsibility to arrange and pay for the cost of chimney sweeping. This is usually undertaken annually however, we recommend that you check the requirements of your building insurance as more frequent sweeping may be required.
Private Water
Where the property has a private water supply you are required to maintain the water supply, carry out regular servicing and ensure that the water provided to the tenant is fit for human consumption.
Fire Safe Furniture & Furnishings
Landlords must ensure that any furniture and furnishings provided meet fire safety standards and are made from fire resistant materials.
‘Our reputation is built upon recommendation’
