The first stage towards letting your property is to arrange with Peter Large Lettings to meet at the property for a 'Valuation Appointment'. We provide this service free and with no obligation.
Every property is different, so in assessing rental value we take account of accommodation, condition, location and current demand. Most importantly we will draw on our database of similar properties nearby and the rental values achieved. During the valuation appointment we will advise you about any action you can take to maximise rental income, and over any safety and other legislation relevant.
Furnished or Unfurnished?
One of the first decisions to be made is whether to let your property furnished or unfurnished.
About 90% of prospective tenants locally are looking for unfurnished accommodation so this is how we generally advise you to let your property. The advantages of letting unfurnished are:
· Greater demand
· Lower turnover of tenants
· Generally more mature tenants
· Less wear and tear
· Lower maintenance and repair costs
Unfurnished lettings generally include the following: -
· Carpets or laminate flooring
· Light fittings
· Built in kitchen appliances, (freestanding kitchen appliances optional). If you leave washing machines and tumble dryers the responsibility to repair lies with the landlord if they break down.
· Smaller wall mounted items such as mirrors in the bathroom and cloakroom, toilet roll holders and towel rails. If these are not left, tenants tend to fix and remove their own leaving unsightly drill holes in the process.
You may for personal reasons choose to let you property furnished. If so you need to be aware of the following:
· All soft furnishings i.e. beds and upholstered chairs and sofas must comply with the Furniture and Furnishings (Fire) (Safety) Regulations Act 1988 (see page 11). Any furniture manufactured before 1988 will generally not comply.
· All bed linen, towels and ornaments should ideally be removed.
· If an electrical appliance such as a television, toaster, or washing machine breaks down, it is your responsibility to repair or replace it.
First impressions count! If your property is presented well, it will not only achieve a higher rent but will also attract a better tenant. It is important to ensure that the property is cleaned, that redecoration is carried out and carpets professionally cleaned where necessary, windows cleaned inside and out and the garden well tended. Peter Large Lettings can advise you on the level and type of furnishings, fittings, and appliances required and where redecoration or other improvements are required.
Decoration and carpets
When redecorating, choose neutral colours such as magnolia or cream. Emulsion paint the walls rather than wallpaper as it is a lot cheaper, quicker and easier to redecorate when necessary. Carpets and curtains should ideally be neutral or muted colours and be able to stand wear and tear.
Garden maintenance is normally the tenant's responsibility and most tenants are happy to maintain a small or medium sized garden. However, if your property has a large garden, we recommend that you employ a gardener to look after it during the tenancy with the cost of this being reflected in the rent.